Updated May 13, 2024
1. Settlements
Settling is the process of reconciling Boom sales, external sales, and refunds. We settle payouts for the previous month during the first five days of the month. Once your account is settled, a Credit will show on your Sales dashboard.
Your settlement may be delayed if there are unresolved issues with our account, such as refund holds for violations of the terms of service. Your Credit may change if we have to resettle your account due to processing additional refunds.
Payouts begin when settlement is complete and are finished by the 15th. Wait until the 16th to contact us about a missing payout for the prior month.
2. Eligible PayPal Account Required
You must have a PayPal Eligible Account to receive a payout. You are solely responsible for ensuring that your account is eligible to receive a payout. If a payout is returned to us because you did not have an Eligible Account, any repayments will be less fees incurred when we issued the unclaimed payment. If we do not have payout instructions by the 15th, you will be paid the following month.
3. What
We issue payouts for Credits of $5 or more. Credits of less than $5 are rolled over to the following month. If you want to close your account and have a balance of less than $5, you must contact us to receive final payout.
4. Service Fees
Service Fees are percentages of the sale price. Service fees help pay for customer support, development to maintain and improve the system for you and customers, and to enable you to sell Boom Cards as you see fit, on a marketplace of your choosing. Below is our current schedule of Service Fees
| Source of Fee | Service Fee | Service Fee Calculation Basis |
| Boom store | 15% | Price in customer's checkout cart at time of checkout |
| External marketplace URL redemption* | 10% | Price of matching item in the Boom store at the time the external marketplace URL is redeemed. If the item is never redeemed you will not be charged a service fee for it. |
| API external marketplace redemption | negotiated | negotiated |
| Payout delivery expense - PayPal | amount set by PayPal | Credit show after settling |
| Other payout delivery expenses - negotiated | negotiated | negotiated |
* From time to time and in our sole discretion we may exempt select marketplaces or select sales on select marketplaces from the external marketplace URL redemption service fee.
5. Payout Amount
Payouts are the amounts you receive after all Service Fees and the PayPal Mass Payment Fee are deducted.
6. Invoices
Sellers with a negative balance at month-end will be invoiced for Service Fees owed to Boom Learning.