Difference between revisions of "Template:Batch"
From Payment Processing Software Library
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| − | Also known as '''End-Of-Day Batch''' or '''Settlement''', Batch confirms, settles and clears all credit card transactions with the designated processors. After batch is complete merchant’s account receives the money from customer credit card accounts. At the end of each day a batch should be run to settle all purchases and prepare for the next day. | + | ==Batch== |
| + | Also known as '''End-Of-Day Batch''', '''Journal''' or '''Settlement''', Batch confirms, settles and clears all credit card transactions with the designated processors. After batch is complete merchant’s account receives the money from customer credit card accounts. At the end of each day a batch should be run to settle all purchases and prepare for the next day. | ||
#'''Credit Card Processing Software''' contacts Processor designated for Settlement. | #'''Credit Card Processing Software''' contacts Processor designated for Settlement. | ||
#'''Credit Card Processing Software''' transmits Account Numbers, Expiration Dates, Amounts and other relevant information of EVERY transaction to Processor. | #'''Credit Card Processing Software''' transmits Account Numbers, Expiration Dates, Amounts and other relevant information of EVERY transaction to Processor. | ||
| − | Processor transmits back Batch Completion Code. | + | #[[Processor]] transmits back Batch Completion Code. |
Latest revision as of 15:42, 9 February 2006
Batch
Also known as End-Of-Day Batch, Journal or Settlement, Batch confirms, settles and clears all credit card transactions with the designated processors. After batch is complete merchant’s account receives the money from customer credit card accounts. At the end of each day a batch should be run to settle all purchases and prepare for the next day.
- Credit Card Processing Software contacts Processor designated for Settlement.
- Credit Card Processing Software transmits Account Numbers, Expiration Dates, Amounts and other relevant information of EVERY transaction to Processor.
- Processor transmits back Batch Completion Code.
