10. Opayo sends Settlement Batch Files

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Overview

Once each day from 00:00 a.m. the Opayo system:

  • Batches all authorised transactions for each acquirer and
  • Creates a settlement file for each acquirer.

The process requires no input from you or your site.

The Settlement File

The settlement file contains transactions for ALL merchants who use the same merchant acquirer.

  • All transactions occurring from 00:00 a.m to 11:59:59 p.m. on the previous day are included in the files except PayPal and European Payment methods transactions.
  • The files are uploaded to the acquiring banks on a private secure connection.
  • The batched contents and delivery confirmation are found in the Settlement section of MySagePay.
  • Opayo monitors the process for successful submissions and notifies the support department to correct problems.  Corrected files are sent the same evening and as soon as reasonably possible to ensure funds are available to vendors most expediently.

To confirm their receipt of the file, the acquirers return summary information to Opayo and later, more detail about rejections or errors. If a transaction is rejected, we will inform you and resubmit the transaction for settlement when possible.

PayPal Payments

Funds from your customers’ PayPal payments are deposited into your PayPal Business account immediately and there is no settlement process. You can withdraw or transfer the funds electronically into your specified bank account.

Although PayPal transactions are included in the Settlement Reports displayed within MySagePay, and as PayPal transactions are not settled by Opayo directly with the banks, we recommend you log into your PayPal Admin area to obtain a report of your PayPal transactions.

 

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