Payments insights
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Payments insights
Streamline your payment processes by understanding key components

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Understanding payment types and statuses is essential to apply the correct business logic, ensuring efficient management of payment processes and tracking from initial order creation through final transaction resolution.

Recognizing the distinct phases of an order’s life cycle, from creation to potential refund or settlement, helps navigate the complexities of payment transactions and implement effective financial strategies.

Understanding error codes is crucial for identifying why payments are declined and enabling effective resolutions, enhancing both merchant and customer experiences.

Decline codes provide specific insights into failures at both transaction and order levels, advising customers on corrective actions.

Refund reason codes help analyze refund and void activities, offering insights into operations and enabling automated responses.

Analyzing refund reasons helps identify fraudulent activities, thereby improving customer satisfaction and securing revenue by optimizing refund processes.

Solidgate supports processing in over 100 currencies, adhering to ISO 4217 standards, enabling to receive payments in multiple global currencies.

Each currency is identified by a specific code and has a designated minor unit, which determines the smallest unit of currency for transaction processing.

In order to optimize the transaction approval process in different countries, additional data must be collected and provided to improve the acceptance of cards and alternative payment methods.

This additional information, which varies by country and payment method, is necessary to comply with regional regulations and improve the authentication process, which has a direct impact on transaction success.

ECI (Electronic Commerce Indicator) values signify the authentication level of a transaction, influencing both the authorization process and the extent of liability protection afforded to it.

Understanding and correctly applying ECI codes is critical as it affects transaction risk management and determines liability for unauthorized expenditures.

Merchant Advice Codes (MACs) from Mastercard provide specific reasons for transaction declines and offer actionable recommendations, enhancing ability to address and rectify payment issues.

These codes range from advising updates to account details to suggestions on transaction retry timing, facilitating improved decision-making and potentially higher transaction approval rates.


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