As of January 2020, Payoneer is the primary payment processor for projects in the Catalant Expert Marketplace. Payoneer is a leading global payment processor and platform for independent professionals and firms around the world. Experts and Firms must have a Payoneer account associated with their Catalant account to receive payments.
The Catalant platform accommodates two structures for project payment: fixed fee (deliverables-based, the default setting) and variable (time-based, based on an hourly rate). Experts are able to choose their preferred payment structure (fixed or variable) when they submit a proposal for a project.
To learn more about the process for Fixed Fee projects, click here.
To learn more about the process for Variable (Hourly Rate) projects, click here.
You can learn more about Catalant's payment process by viewing this Livecast.
Establishing Fees and Payment Schedule
Experts include their proposed fees, expenses, and payment schedule for a project in the proposal they submit through the Platform. The payment schedule in the approved proposal and the fully executed contract between the client and the expert establishes the timeline and structure for how an expert is able to request payment for a project.
In order to give experts flexibility in the timing of their payments, experts are eligible for up to 1 payment per $5,000 of Total Project Cost (total contract value). For example: for a project that’s $50,000 in total, the expert is able to include up to 10 separate payments for the course of the contract. This payment threshold only limits the overall number of payments an expert can receive on a given project; each individual payment can be of any value.
Once a client and expert execute a contract and launch a project, experts are responsible for requesting payment for client approval based on the agreed-upon payment or deliverable schedule in the project agreement. Payments are batch-processed twice a month, on the 1st and 16th. After payment is requested by the Expert and approved by the client in the Catalant platform, an expert will receive payment on the next batch payment date following the date of client approval. This process and timeline apply to fixed fee payments, variable professional fee payments, and expenses. Please note that Catalant's payment terms have been updated for new projects and extensions and starting April 1, 2021.
Starting April 1, 2021, payments for all Expert Marketplace contracts will be cleared to send 30 days from the date of approval by the client. If a client approves payment on or between the 1st and 15th of a calendar month, payment will be disbursed on the 16th of the following calendar month. If they approve payment on or between the 16th and the last day of a calendar month, payment will be disbursed on the 1st of the second month following the calendar month of approval (e.g., if client approves on March 17th, payment shall be made to you on May 1st). If the disbursal date falls on a bank holiday or any other day when banks are closed, then such payment shall be made to you on the following business day when banks are open.
If an expert hasn’t received an approved payment on the batch payment date, confirm the following:
- Confirm that Payoneer account information was successfully added to the Expert's account, which is found at Settings > Account Settings > Payments in the Catalant platform. Payoneer account status must be “Verified” to receive payment.
- Confirm that the client approved payment in the Catalant platform, which can be found on the Payments tab in the Project Workspace
If you have logged in and confirmed that your Payoneer account is “verified,” have confirmed that the client has approved your payment, you may reach out to email@example.com to resolve any payment inquiries.
Linking Payoneer and Bank Account
Experts and firms can transfer funds from their Payoneer account directly to local bank accounts in over 150 countries and currencies. See the full list of countries and currencies, here.
For questions about Payoneer, or for help setting up an account, visit Payoneer’s Customer Care Center ─ it’s available 24/7 and ready to assist in 16+ languages.
Proposals and contracts must always be in USD. However, Experts can choose to be paid in USD or in their local currency through Payoneer.