Payment card settlement involves the process of transferring funds from the card issuer to the merchant’s bank after a transaction. Key elements include interchange fees, which are integral to these transactions, and themerchant discount, which represents the fee paid by merchants. Components of a ...
Card fees (payment acceptance) Local payment method fees Integration methods Airwallex¹ Global payments with multi-currency settlement and local payment method options Domestic cards: 2.80% + $0.30 International cards: 4.30% + $0.30 Fixed fee ($0.30) + fee for local payment methods like Appl...
Accurate to eight decimal places in the settlement details report, and is rounded to two decimal places using the banker's rounding in the settlement summary report. This parameter is specified when paymentMethodType is CARD and the interchange++ pricing model is used. schemeFeeCurrency OPTIONAL ...
Added the documentation of the value-added services: Revenue Booster, Combined Payment, and Flexible Settlement. Added the documentation of the payment products: Scan to Bind and Subscription Payment. Added the Card payment documents in Checkout Payment documentation. Added the enumeration values AMEX,...
3.2.1 Gross Settlement. PayPal will invoice you on a monthly basis (“Fee Invoice”) for all fees, charges, or other amounts accrued in connection with your use of the Online Card Payment Services (“Gross Settlement”). 3.2.2 Currency Conversion. (a) PayPal may allow you to choose the...
Credit card payment processing explained Read article Blog Nov 29, 2024 Card issuer rejection explained Read article Blog Nov 14, 2024 Interchange fees explained Read article Blog Oct 21, 2024 What happens in 336 ms? The journey of a payment transaction Read article Blog Oct 17, 2024 ...
Settlement The second piece of the online payment system process (where you get paid) is the settlement: The card issuer sends the funds to your merchant bank, which deposits the money into your account. The funds are available. Although the settlement process can sometimes take a few days, ...
Front-end processors: Front-end processors maintain connections to card networks and settlement services and manage merchant accounts on behalf of their clients. They contract with back-end processors, who handle the actual movement of money behind the scenes. Back-end processors: Back-end processors...
There are two phases involved in credit card processing: authorization and settlement. The first one is authorization. When the cardholder taps their card to pay (or clicks the Pay button on your website): You (the merchant) send the payment authorization to the payment processor connected to ...
You agree to pay the applicable fees listed in these Payment Terms, on ourFee Schedule, and as described in your Dashboard for Card payments and Other Payment Methods (“Fees”) for use of the applicable Payment Services. All Fees are charged at the time we process a transaction and are ...