Stax

NOVEMBER 14, 2024

Step 6: At the end of the month, the statement is sent to the business that details the interchange for all transactions that month–which is the fee set by credit card companies for merchants to accept their cards as payment. Many businesses still rely on very manual processes such as Excel templates, in order to create invoices.

Credit Cards 88

Credit Cards Process Online and Mobile Banking Payment APIs and Integration 88

Stax

APRIL 18, 2024

At the end of the business day, the merchant batches all authorized transactions and submits them to the acquiring bank for settlement. The acquiring bank then deposits the funds into the merchant’s account, typically within a couple of business days. This marks the completion of the credit card payment process.

Credit Cards 88

Credit Cards Process Online and Mobile Banking Processors 88

Payment Savvy

JULY 3, 2024

Clearing and Settlement At the end of a business day or a predetermined period, the merchant batches all approved transactions and submits them to the acquiring bank for settlement. The acquiring bank forwards the batched transaction data to the appropriate card network for processing.

Debit Card 52

Debit Card Process PCI DSS Processors 52

Evolve Payment

APRIL 12, 2023

Glenwood State Bank previously managed their merchant service options in-house but understood with accelerating technology, including EMV and Pin Chip, they needed to partner with a team that could help upgrade their customers and transition their customer portfolio. How can your bank improve its merchant processing services?

Community Banks 52

Community Banks Process B2C Treasury Management 52