Credit Card Settlement

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Settling the credit card transaction initiates the deposit of money to your bank account.

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Introduction

Settling a credit card transaction initiates the deposit of money to your bank account. Authorization and settlement can be configured on the Payment Gateway Setup admin screen. By default, credit card authorization and settlement is automatic when a new order is placed. For more info about the Payment Gateway Setup admin screen, see the Payment Gateway Setup KB article.

There are 2 types of credit card settlement:

  1. Automatic Credit Card Settlement - All successful orders in the cart are sent to payment gateway with an Auth + Settle flag indicating auto settlement. Auto settlement is the most common way to setup your credit card processing because it requires the least amount of maintenance.
  2. Manual Credit Card Settlement - The shopping cart will send an Auth Only transaction to the payment gateway. The Auth Only transaction will verify that your customer has funds on their credit card and it reserves funds for purchase reducing the available balance on the credit card.

    Additionally, when your customer successfully checks out and purchases a product from the shopping cart, the module sets the status of the order to an Open status.

Notes

- Most ecommerce sites are set up for automatic credit card settlement so you will not have to worry about manually settling (capturing) the credit card authorization.

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Credit Card Settlement Settings

The Payment Gateway Setup screen, controls how a Payment is settled. The following settlement options are aviable:

Authorize Only (enabled) - When Authorize Only is enabled, all successful orders are sent to Authorize.Net with an Auth Only flag.

Authorize Only - (disabled "Default") - When Authorize Only is not enabled, all successful orders are sent to payment gateway with an Auth + Settle flag indicating auto settlement. Auto settlement is the most common way to setup your credit card processing because it requires the least amount of maintenance.

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Auto Credit Card Settlement

If you want automatic settlement for your shopping cart orders, you do not need to do anything. Automatic credit card settlement is the recommended settlement type because it requires less maintenance to manage your credit card payments.

Note: Depending on if you meet the cutoff time for your credit card processor your funds will be deposited within 24 hours.

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Manual Credit Card Settlement

The reason you might want Manual Credit Card Settlement is because some states require that you physically ship product before settling a credit card transaction.

To setup the store for manual settlement go to the Payment Gateway Setup admin screen, and check the checkbox titled Authorize Only.

To manually settle a transaction, take the following steps:

  1. Navigate to the Add/Update Payment screen

    The first step to settling a Payment is navigating to the Add/Update Payment screen of an Order. The Add Payment page can be accessed by selecting the Payments tab on the Store Order Details screen. After navigating to the Store Order Details screen, click the Payments tab to view the Payment listing.


  2. Access Payment Details screen

    The next step to adding processing a Payment is entering new or reviewing existing Payment Details. After navigating to the Payments tab, edit the Payment to be settled.


  3. Enter or Review Payment Details

    The next step to adding processing a Payment is entering new or reviewing existing Payment Details. After navigating to the Add/Update Payment screen, enter or confirm the Payment Details or correct.


  4. Settle the Payment

    Once a Payment is ready to be processed, click the Settle button and the Payment will sent to payment gateway with an Auth + Settle flag indicating settlement.

    Click the Back button to cancel your changes.

    After the Save button is clicked the following message will be displayed:


  5. Payment Settlement Complete

    This completes the steps to settle a Payment. Make sure to check the Payment Status to confirm the Payment was processed successfully.

    To manage the Order Details please see the Manage Order Details section for more info.

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The Payments screen allows you send a settlement request to the payment gateway or manually add a payment. Simply check the “Process Payment” checkbox when updated a Payment and the settlement request will be sent to the payment gateway.