Note: This feature is currently only available in Singapore and selected merchants in Hong Kong.
In this article
What is Oddle Payouts?
Oddle Payouts is an automated fund disbursement feature for restaurants to receive customer payments accurately and timely.
Customer payments are received through Stripe's secure payment infrastructure and restaurants get paid directly into bank accounts after Oddle's fees have been automatically calculated.
With Oddle Payouts, restaurants can view payment transactions on Oddle e-statements or update their bank accounts from the Oddle dashboard conveniently.
Best of all, there is no extra cost to using Oddle Payouts. Set up Oddle Payouts today!
How payouts are made
Customers checkout from your Oddle Shop with their credit/debit cards as usual.
After orders are fulfilled, Oddle Payouts automatically calculates the revenue less of your current Oddle fees, logistics fees, and customer refunds.
The net amount is then paid out into your bank account about 5 working days after the closure of your statement period.
Set up Oddle Payouts
Refer here for a pdf guide.
Before you begin, please ensure that:
You have the following business registration information ready:
Legal business name
Company registration number
Registered business address
Corporate banking details (branch and account number) for payout purposes
[Not always necessary] Identity verification documents (e.g. Driver's license, identity card, passport, work permit/pass)
Refer to our FAQ below for the list of accepted identity verification documents
Steps:
Log into your Oddle dashboard.
Click on Account Settings located on the left navigation panel.
Click on Billing, followed by Accounts located on the left navigation panel.
If you are migrating to Oddle Payouts for an existing menu
An initial billing account has been created for you, click Configure on the desired account.
Proceed with the steps indicated on the screen
If you are creating a new billing account for your menu,
Click on + Add Billing Account.
Proceed with the steps indicated on the screen to create a new account
Ensure ALL business information and documents are submitted and verified during registration.
Tip: Ensure that the registration name submitted matches the name stated in the verification document (if necessary).
Refer here for mistakes commonly made to avoid disruption to your disbursement.
Three green tags will be displayed on the payout account once registration is completed.
Frequently Asked Questions (FAQ)
Is Oddle Payouts secure?
Oddle Payouts uses Stripe to process and manage transactions, and the funds do not flow directly through Oddle.
Your personal and payment information is securely stored with Stripe. Thousands of companies around the world trust Stripe to process payments for their users. Find out more about Stripe here.
Why must I provide my identity information?
Stripe must verify the identity of all individuals associated with a Stripe account due to "Know Your Customer" (KYC) obligations.
Stripe may request your identity information, which may include a copy of your government-issued photo ID for verification. Your identity information is secure with Stripe and Oddle does not access or store it.
How will my payout be affected?
Upon successful verification of your Stripe account, you will be onboarded onto our weekly payout schedule at the start of the next month. You can find out more about the weekly payout schedule here.
What are the identity verification documents acceptable by Stripe?
Accepted verification documents for Singapore:
Passport
Driver's license - front and back
National Registration Identity Card - front and back
Work Pass or Long Term Pass - front and back
Singapore Armed Forces Identity Card - front and back
Accepted verification documents for Hong Kong:
護照 / Passport
身份證 / Identity card - front and back
登記事項證明書 / Certificate of Registered Particulars
豁免證明書 / Certificate of Exemption
越南難民證 / Vietnamese refugee card
Why do I not see the Oddle Payouts registration page?
It is likely because this feature has not yet been activated for your account. We seek your understanding as we progressively roll out this feature to all our merchants.
However, if Oddle has informed you of the feature, do contact our support team at [email protected] so we can help to resolve the issue.
Can I change the payout schedule?
We are unable to cater to a customised payout schedule currently.
What should I do when I see red tags under my Bank Account?
A red tag could mean 2 scenarios:
Restricted: Disbursements to your account may be temporarily paused as Stripe needs to collect and verify additional information from you
Rejected: Your account has been disabled. We recommend you to create a new stripe account and inform our Oddle support team, who will help to transfer the payouts to your new account.
Do not fret! You can contact our Oddle Support team through our live chat, through your Account Manager, or by emailing us at [email protected]
You may also refer here to the common mistakes that prevent a successful verification.
I need help with Stripe's two-step authentication login.
Please follow the troubleshooting steps listed here.
If you are still unable to authenticate your Stripe account, please submit a Stripe account recovery form to remove the two-step authentication.
You can contact our Oddle Support team through our live chat, through your Account Manager, or by emailing us at [email protected].
Please note that Oddle is unable to assist with the account recovery on your behalf due to security reasons but our support team will guide you along the process.