MeevoPay: Delayed Funding 5/21 and 5/22

Update timeline

1. monitoring May 23, 2024, 03:28 PM UTC

   MeevoPay businesses may see delayed or partial funding for their May 21 and May 22 (deposited 5/22 and 5/23 respectively) deposits. This is due to an elevation in capture and refund failures on Mastercard transactions. You may see transactions marked as rejected. The affected transactions were recaptured automatically, the root issue has been resolved, and no action is required at this time. Mastercard transactions will be settled with a delay of up to 2 days, compared to their expected settlement schedule, and the related payouts will be impacted. If you have concerns about your deposits and payouts, please contact our MeevoPay Merchant Services team at 973-402-8801, option 5.

2. monitoring May 24, 2024, 01:41 PM UTC

   Update: We have confirmation that the root issue was resolved. Delayed funding should begin hitting accounts today, there may be an additional day of delay for expected 5/23 deposits, as well as for Mastercard transactions separately. If you have concerns about your deposits and payouts, please contact our MeevoPay Merchant Services team at 973-402-8801, option 5. Please see our userguide for how to handle reconciling Transactions and deposits: https://docs.meevo.com/single-location/Register/Merchants/MeevoPayReconciling.htm

3. resolved Jun 01, 2024, 11:43 PM UTC

   We are happy to report the MeevoPay funding issues have been resolved. We identified the root cause of the situation was a capture error between our financial institution and Mastercard between May 21st and May 22nd. Their course of action to correct this error impacted our funding engine’s ability to translate that data, which caused the discrepancies you experienced (e.g., delays and partial funding). The way the system works, if account balances are impacted by next day funding processes, it impacts subsequent deposits until the balances are corrected and back into alignment. This is the reason some of you experienced a prolonged period of discrepancies. We have remedied the situation, and everything has been processing and funding successfully since May 22nd with no issues (note that there has never been any disruption with the ability to process credit cards). We have disbursed all outstanding funds with an expected delivery to you on Monday, June 3, 2024. Please continue to monitor the MeevoXchange for status updates on outstanding funds and disbursements. To reconcile your recent payments, please pull your MR080 report with the date range 5/20/24 to 5/30/24 (full day) and compare it with the deposit section of the Meevo xChange for 5/21/24 to 5/31/24. If you need assistance with reconciliation, please contact our MeevoPay team at [email protected] or 973-402-8801, we are happy to provide any assistance you may need and ensure that every penny is accounted for.