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Optimize transaction settlements with auto-settle, reducing manual effort

This process includes initially Guide
This process involves the merchant obtaining authorization to hold a customer’s funds, Solidgate communicating with the acquirer to process the transaction, and the merchant settling the transaction.
authorizing funds
and settling after verifying the transaction, effectively reducing the risks of payment returns. It starts with initiating the payment, followed by encryption and fraud checks, authorization by the issuing bank after a detailed check. It ends with clearing and settlement stages, transferring funds from the customer’s account to the seller’s account.

Automatic payment completion is a key function for efficient payment processing, especially if the settle_interval parameter and auth type are specified in payment requests.

Before beginning payment processing, merchants should configure the necessary settings and parameters to govern transaction flow and processing. These configurations ensure that transactions are secure and adhere to established standards.

Defining the payment_type of transaction as either customer-initiated (CIT) or merchant-initiated (MIT) is important for determining the maximum settle interval for VISA payments. In addition, the type of card brand, such as Visa, may dictate specific checks that must be applied to ensure that all transactions meet the defined limits and rules the payment network sets.

If the first transaction attempt to complete the payment fails , the system retries up to six times within 24 hours, every 4 hours, regardless of the settle_interval. Our auto-calculation process starts 3 minutes before the settle_interval and continues for 24 hours if needed.

For orders with an incomplete fund authorization and a processing or 3ds_verify Guide
Understand payment states and types to implement correct business logic.
, the settlement process is put on hold for up to 2 hours, with a maximum of two such delays. If the authorization remains pending after these delays, the system will wait until the authorization is completed before initiating the settlement.

Usage terms

  • Setting type : auth is mandatory for authorization transactions; if not specified, charge will automatically be set.
  • Define the payment_type of the transaction as CIT/MIT to understand the maximum value.
  • settle_interval should not be set as null; otherwise, manual intervention must be completed.

Transactions with one or more canceled operations will not be automatically completed, ensuring that only valid and complete transactions are processed.

Settlement terms

  • CIT Visa payments: Maximum 240 hours (10 days).
  • MIT Visa payments: Maximum 120 hours (5 days).

If the transaction is MIT and the specified settle_interval exceeds 120 hours, like for CIT, it will be adjusted to 120 hours, consistent with the limits for merchant-initiated Visa payments.

  • Other payment systems: Maximum 144 hours (6 days).

If card brand information is available and identifies the card as non-Visa, and the settle_interval specified exceeds 144 hours, the maximum settlement interval will still be limited at 144 hours.

In such cases, the system manages settlements based on the set interval, eliminating the need for a separate settle request.

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