The payment rate is a set percentage that’s deducted from your sales on your payout schedule.
For example, if your payment rate is 9% and you do $1000 of sales in a week, you’ll see $90 deducted toward paying your outstanding obligation on your Mindbody payout date.
Merchant cash offers and advances are provided by Parafin and governed by Parafin’s Terms of Service. Merchant cash offers and advances and bank transfers are subject to review and may be rescinded. Merchant cash offers and advances are not extensions of credit or loans and they may not be used for personal, family, or household purposes.