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![*]()
Merchant Transaction Terms
![*]() You should know common
transaction procedures related to a merchant account. Batching
out is the process by which the merchant and cardholder's
banks exchange transaction data, resulting in the depositing
of funds into your specified bank account.
There are two methods of batching. Most Transaction Management
terminals are set to Auto Batch for you convenience. Auto
batching will occur at 10:30 pm each night and will include
a batch report for that day. Second, you can batch any time
throughout the day manually with a touch of one key. What
if I don't? Your terminal will be set to Auto Batch, but in
the event the terminal does not batch, the display on your
terminal will read "Need To Batch", and you can manually batch.
You can verify funds on a customer's credit card. Those funds
will be reserved for you until, at a later date, you deposit
those held funds into your account. You should find out if
you can put your account in test mode. Internet payment, gateway
and terminals can easily be put into test mode. It's a great
way to practice the use of your terminal or test the web sites
payment gateway configuration before you launch your site.
Be aware of the fact that depending on your specific business
you will receive a terminal, supplies to get you started,
stickers for advertisement, support phone numbers, and call
center information with your equipment package.
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