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The Credit Card Settlement Process
The following steps summarize the interactions that take place
during the settlement process, which is the means by which funds
are actually transferred from the customer’s bank to yours.
- RTWare.net servers automatically transmit batches of
transactions to the Acquiring Bank’s processor.
- The Acquiring Bank’s processor passes the transaction
batches to the Credit Card Interchange system.
- The Credit Card Interchange system routes to the appropriate
Card Issuer database.
- The Card Issuer verifies transactions, passes results
through Credit Card Interchange system, and passes funds
to the Interchange system.
- The Interchange system relays transaction process results
to the Acquiring Bank’s processor, and passes funds
to the Acquiring Bank. The Acquiring Bank passes remaining
funds to the Merchant’s bank account.
- The Acquiring Bank’s processor passes transaction
results to RTWare.net servers.
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