Settlement & Files

Merchant settlement refers to the final step in a financial transaction where the transaction is completed and the funds are officially transferred between a merchant and a customer.

Settlement Process

• At the end of each day, the acquiring bank sends the Payment Gateway a mark-off file which contains all the transactions that have completed for that day, since the last mark-off file was run.
• The Payment Gateway runs daily batch settlement which processes all the transactions that are received the mark-off files from the banks and moves the transations from a processed state to a settled state.

There are 2 types of files that are involved in the settlement process:

1. Bank Mark-Off File
2. Recon File

Setting up an SFTP Account

In order for us to create an account for you so that you can have access to our SFTP folder(s) and upload or collect your files, please provide us with the following details:

• Contact name and surname
• Email address
• Phone number
• Public key (as instructed in the Integration Guide, in .pub file format).

Once we receive your details, we will create an account and provide you with the following details:

• IP Address
• Username

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NOTE: you can only access the SFTP folder from the same machine that you used to create the Public key from.