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 payment initiation, followed by encryption and fraud checks, and concludes with authorization by the issuing bank after thorough verification. Once the payment is successfully authorized, the settle step transfers funds from the customer’s account to the merchant’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.

Defining the payment_type of the transaction as either customer-initiated (CIT) or merchant-initiated (MIT) is important for determining the maximum settlement 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 incomplete fund authorization, the settlement process is not initiated. The system waits for successful authorization, as the status change to auth_ok indicates. Once it occurs, the system arranges the settle operation at the next feasible time. This streamlined approach ensures that the settlement process begins after successful authorization, improving the efficiency of the payment completion process.

Usage terms

• Set type : auth is mandatory for authorization transactions.
• Define payment_type of the transaction as CIT/MIT to understand the maximum value.
• Specify settle_interval value.
  Otherwise, manual intervention must be completed.

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

Settlement terms

Solidgate handles the settlement process based on the transaction payment_type and card scheme.

• 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, in line with Visa’s merchant-initiated payment limits.
• Other payment systems: Maximum 144 hours (6 days).
  If the card is identified as non-Visa and the specified settle_interval exceeds 144 hours, it will be limited to 144 hours.

Additionally, Solidgate ensures smooth settlement by comparing the settlement limit on the Payment Service Provider (PSP) side with the specified settle_interval set by the merchant for the product:

• If the PSP’s maximum settlement period is shorter than the specified settle_interval, the system adjusts the interval to match the PSP’s limit.
• If the PSP does not specify a maximum period or if their maximum is longer than the specified settle_interval, no changes are made to the settlement date.