How do invoices and the payment process work for contractors?

This article explains the invoice and payment process for both fixed and pay-as-you-go (PAYG) contractors. You'll learn how the invoice systems work, how to pay, and the payment process for contractors. 

Invoice Process

When an invoice is auto-generated or submitted by the contractor, it will go into the approval queue under Invoices. You can then go ahead and either approve or dispute the invoice if you like.

If an invoice is disputed, an email notification will be sent to the contractor, and the status will be updated.

Paying Oyster

Once the invoice has been approved, if you have a direct debit set up, funds will be automatically pulled from your bank account. It could take five business days for this to reflect in your company account. You can learn how to set up direct debit.

If a direct debit is not available in your region, your invoice will have the Oyster bank account details for you to transfer the funds manually.

💡 If paying via wire transfer, ensure you enter the invoice number (usually in format XX-XXXX-XXXXXX-XXXXX) in the comments or reference field to help our Finance team match the payment to your account quickly.

Payment timeline for contractors

  1. Once an invoice gets approved, Oyster will wait for your company funds to be sent to our account. The settlement and clearing of funds might take up to 5 business days.

  2. Immediately after we receive the invoice payment, Oyster automatically begins the payout based on the contractor's bank account and currency through our payment provider (MoneyCorp). 

  3. Once MoneyCorp starts the payment process, an email notification is automatically sent to the contractor's registered email. 

  4. Payment should ideally take up to 7 business days. However, there are sometimes delays due to the location of the contractor. If this happens, Oyster will immediately contact the contractor to resolve this.

  5. If the payment has been successfully made to the contractor's bank account, the payment confirmation is automatically sent to the contractor's registered email by MoneyCorp.


The contractor invoice payout status can be any of the following:

Status Description
Pending Payment is not yet sent.
Payment in process Payment process has been initiated.
Payment sent Payment has been sent.
Failed Payment process has failed.
Not paid Automatic flow failed and we will initiate a manual payment.




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