Are you ready?
In this tutorial you will learn how to change authorized
amount is withdrawn from the card holder’s account and transferred to merchant’s account.
The general practice is to do this at the end of the business day.
There are two possible settlement mechanisms commonly referred to as terminal capture and host capture:
When terminal capture
is used, the information about each transaction to include in settlement has to be supplied at the settlement time (generally through a settlement file).
When host capture
is used, the underlying processing system (the host) keeps track of all of the transactions and it is usually sufficient to simply send a settlement message without including transaction details.
" >settlement cutoff time for credit card and direct debit transactions. As a rule, card and direct debit transactions are processed by different processors/banks. Thus, settlement time for these types of transactions can differ, which can cause funding delay for merchants. For this reason, it is needed to separate a settlement time for these types of transactions.
We will use the following parameters:
Settlement type: daily
Cutoff (Cards): 11:00 PM
Cutoff (Direct Debit): 5:00 PM