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Table of Contents
1 MONTHLY TRANSACTION AND REVENUE REPORTS ..................................................... 3 1.1 1.2 1.3 2 2.1 BACKGROUND ................................................................................................................ 3 HOW TO ACCESS YOUR MONTHLY TRANSACTION SUMMARY REPORT ....................................... 3 HOW TO READ YOUR MONTHLY TRANSACTION SUMMARY ..................................................... 3 BACKGROUND ................................................................................................................ 5 Expected Payouts ................................................................................................. 5 Actual Payout ....................................................................................................... 5 Timing ................................................................................................................... 6
FORMAT ........................................................................................................................ 6 EXPLANATION OF ITEMS ON THE STATEMENT ....................................................................... 7 TIMELINES ..................................................................................................................... 8 PAYMENT CURRENCY ....................................................................................................... 8 PAYMENT METHOD ......................................................................................................... 9 PAYMENT REMITTANCE ADVICE......................................................................................... 9
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Unique Consumers This is the number of unique subscribers who initiated a payment transaction. Total Transactions This is the total amount of transactions that have taken place in each market in a particular month. Successful Transactions This is the total amount of transactions that were successful and completed in a particular month. Failed Transactions This is the total amount of transactions that failed in a particular month. Success % - This is the total amount of successful transactions as a percentage of the total amount of transactions in a particular month. Part Paid Transactions In some markets, a transaction can complete with the total billed amount less than the total transaction amount but still greater than zero. All such transactions are counted as part paid transactions.
x.
Part Paid Revenue This is the total gross revenue that is earned from part billed transactions in a particular month. Total gross revenue, sometimes referred to as Total Payment Volume (TPV), is defined as the total amount billed to end users.
xi. xii.
Total Revenue This is the total gross earned in a particular month, including part paid revenue. Gross Payout This is the estimated total payout to Boku for all completed and billed transactions. The payout to Boku is calculated as the payout received from suppliers in each market net of any messaging fees. Note this includes payouts from part paid transactions as well. The Gross Payout for a part paid transaction is computed based on the part paid revenue.
xiii.
Net Payout This is the estimated total payout to you for all completed and billed transactions, after Boku has assessed their fee. The fee is generally applied as a percentage of Gross Payout.
The fields marked with a star (*) are converted into your reference currency at the current exchange rate. Boku sources exchange rates from http://www.xe.com on a daily basis. Exchange rates are provided for indicative use only. The exchange rate used for settlement is likely to be different.
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After the end of each month you will receive a monthly transaction statement which shows the net expected payout for each market for transactions completed and billed in a particular month. This expected payout is net of all messaging fees and commissions and is shown in the local currency of each market.
2.1.2
The actual payout may differ from the expected payout for a variety of reasons. i. Billing Adjustments Operator statements are received and reconciled against Boku internal billed volumes. These statements can differ from internal volumes due to a variety of reasons, including bad debt, timing differences, chargebacks or operator billing discrepancies. Once the statements are reconciled, Boku may pass a billing adjustment percentage to be applied against the expected payout. The billing adjustment is calculated as a percentage as follows: [(Actual Payout - Expected Payout) / Expected Payout]. This billing adjustment percentage is called the Monthly Adjustment and can be seen in the Adjustment column on your statement.
Actual Payout
ii.
Withholding Taxes Withholding taxes occur when funds are transferred between countries. A percentage of the transfer is required to be paid to the originating government as a withholding tax, and this percentage is then applied against your payout. A list of all countries and their corresponding withholding tax rate, if applicable, can be seen in Appendix 2. Withholding tax rates are subject to change from time to time.
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iii.
Chargebacks a. Operator initiated chargebacks - In the US, operators may issue refunds to end users and pass a chargeback to Boku. Boku receives detailed information from the operators about these chargebacks, which are then matched to the original transaction. The revenue share of that original transaction is passed to you as a chargeback. b. Boku initiated chargebacks and credits - Boku Customer Support Representatives sometimes need to issue credits or chargebacks to your account if there is a problem during the transaction process.
The actual payout is computed as follows: Expected Payout * (1 Billing Adjustment %) * (1 Withholding Tax %) Chargebacks. The actual payout amount will be communicated on your statement after the reconciliation process is completed between Boku and mobile operators. This is the final amount you will receive for transactions in the indicated month and market.
the prior month, as well as an account summary including actual payouts and payment dates for prior months. The account summary will include all months that had activity during the previous billing cycle or in which payments have not been completed.
2.1.3
Within 7 days after month end, statements are issued showing the expected payout for
Timing
2.2 Format
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3 Payments
3.1 Timelines
Boku generates payments twice a month, usually around the 10th and 25th of each month. Boku then takes approximately 3 business days to process and issue payments. All payments received from operators prior to the generation date that have not already been remitted will be included in this payment. Payment timing varies from market to market, but generally ranges between 45-120 days. Determination of when a market and month of transactions will be paid is not made until payments are generated. Boku imposes a $500.00 minimum on every payment. Any payments that do not meet the minimum requirement will be carried over to the next payment cycle.
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* Brazil payments are made from Paymo Brazil. Withholding is done by the local bank and tax certificates are provided to the Merchant with remittance.
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