Summary settlement report

This gives a daily summary of all the transactions settled by the card association. Paymentology gathers the information from the card association file and packages it into a summary report. It is a report where you can find a summary of transaction types, the number of transactions that have been settled for the day, fees and interchanges earned.

The Summary Settlement Report includes a separate tab for each currency you decide to settle in.

Note: If the client chooses to settle in one currency, then both domestic and international settlements will fall under one tab.

The report includes a combination of debits and credits that the network processes daily.

• Credits - include refunds, chargebacks and interchanges.

• Debits - include POS and ATM settlements, fees and unique transactions.

The network NETTs off the credits from the debits. So, only a single transfer will need to be made when settling with the network daily.

Here is a description of the transactions you can find in the report:

• Unique Transactions - consist of transactions from merchants, such as casinos, gambling sites and pharmacies.

• ATM Interchange - it’s a debit fee that the card issuer sends to a card network to pay the bank agent where the ATM transaction took place.

• Card Association Fee - this can be either a debit or a credit transaction. As a debit transaction, there is a fee paid to a card network for a specific service rendered. As a credit transaction, there can be some discounts applied to the paid services. There is a difference between Card Association Fee Credit and Card Association Fee Reversal. The latter refers to a reversal provided back to the issuer via an incorrect charge, whereas the former is a discount given off the fees.

Report format

Report time frame

Report sample

Daily_Settlement_ReportICA(YYYY_MM_DD).xls