INDUSTRY NEWS


merchant account settlement

When merchant configures his website to the third party gateway, he needs to add the website by submitting required information. Transaction success return url and transaction failed return url is the link to which merchant want the page back after customer finish the checkout procedure successfully/without success whether payment by credit card or other method. Asynchronous notification url is the link to notify transaction status when the real time transaction result does not return immediately within few seconds. The merchant needs to enter the every link for the above demands.

Merchant is required to submit bank information in their back office himself. This section is very important which directly determine which bank the payouts wired to. In the settlement section, merchant can check the settlement schedule with details: generally the payout of processing is weekly. Transactions amount are calculated weekly and wired by the finance department to the merchant. Some merchants may want the payout settled in different currencies. If within a settlement period, the merchant has refunds or chargebacks, they will be deducted automatically in the system and reflected in the merchant balance at that period. The settlement is no doubt is one of the most concern questions for the merchant. It affects the turnover for business. On the other hand, the third party processor should have risk control system to prevent fraud or scam company to process transactions without perform order fulfillment to customer which later causes chargeback and complaints from card association. 


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