Understand the merchant user type and how they might use Swan
To use the Merchant Payment Collection feature, you need to complete a risk review first. To get started, contact your dedicated Technical Account Manager, or send an email to [email protected].

Merchant profile

A merchant profile is a collection of business, risk, and support information that fulfils two primary requirements: (1) to approve the account holder as a merchant, and (2) to operate Swan’s Merchant Payment Collection services.
The merchant profile contains information such as business details, a description of the business activity, a link to the merchant’s website, projected volumes, a support phone number, and more.
A merchant profile is required of all Swan account holders wanting to collect third-party funds using the Swan Merchant Payment Collection feature. If you want to collect third-party funds, you must have at least one merchant profile
The merchant profile is created with the status PendingReview, and the profile is visible right away on your Dashboard.

Risk and merchant profiles

All merchant profiles are reviewed by Swan. We might contact you for more information before accepting or rejecting the new merchant profile.
  • Swan changes the status for accepted merchant profiles from PendingReview to Enabled.
  • Swan changes the status of unaccepted profiles to Rejected. The decision is final and cannot be challenged.
  • Swan might suspend or cancel a merchant profile.
    • There are various situations that can lead to the suspension or cancellation of a merchant profile, the most notable being risk-related, such as fraud.
  • Merchant profiles with the status Suspended cannot be used.
  • The status Canceled, like the status Rejected, is final.

Merchant payment method

Merchant payment methods are the payment methods a merchant uses to accept payment from their clients. Merchant payment methods are connected to a merchant profile. A single merchant profile can have multiple payment methods, and multiple payment methods can be requested at the same time.
To use the Swan Merchant Payment Collection feature, there must be at least one merchant profile and at least one merchant payment method, both with the status Enabled.

Available payment methods

Swan offers the following payment methods for merchant payment collection:
  • Internal Direct Debit
  • French checks (debtor bank must be located in France; API only)

Versions and statuses

Swan creates a new version of your payment method each time a change is requested. Only one version of a payment method can have the status Enabled.
Similarly, only one version of a payment method can have the status PendingReview. However, the statuses Disabled, Canceled, and Rejected can be assigned to unlimited versions of each payment method.
You do not need to change the status of the Enabled or PendingReview product payment before running a request with the API. We handle this automatically on our end.

Risk and payment methods

All payment methods are reviewed by Swan. We might contact you for more information before accepting or rejecting the payment method.
  • Swan might change a payment method status to Suspended if an API request is made that conflicts with status and versioning rules.
  • After completing a review of an existing payment method, Swan can reinstate the payment method by changing the status back to to Enabled.
  • Swan changes the status from PendingReview or Suspended to Rejected when the payment method is rejected or no longer acceptable.

Payment mandate

A payment mandate is required for direct debit. Before being allowed to collect payments, you'll need a mandate for each debtor. Please refer to the dedicated payment mandates page for more information.

Merchant rolling reserve

The merchant rolling reserve is expressed as a percentage over a period of time (example: 10% over 30 interbank business days), which is applied to all funds collected through the Swan Merchant Payment Collection feature.
Payment method
Rolling reserve applied?
Reserve amount
Standard Internal Direct Debit
Determined by a merchant profile risk assessment
B2B Internal Direct Debit
❌ No
French checks
By default, 100% over 10 interbank business days
The reserved amount is not part of the available account balance and can't be used for the specified period of time.
-> Learn more about account balances and why we apply rolling reserve.

Settlement date and booked time

Days are measured in interbank business days (IBBD).
Time is expressed with the 24-hour clock.

Internal Direct Debit

Internal Direct Debit transactions are booked at 18:00 CET/CEST on the settlement date.
The settlement date is one day after (D+1) initiating the debit if:
  • Transactions are sent before 11:30 for B2B transactions.
  • Transactions are sent before 10:30 for standard transactions.


Checks received by the check provider by 09:00 CET/CEST should be processed the same day.