Batch Uploads and Credit Card Processing
Some merchants do not process a very high volume, while others can process thousands of transactions each day, depending on the size of their business. For merchants who do a high volume amount of credit card transactions, a batch upload method of processing is usually the most efficient way to complete it. A batch upload basically means that all transactions are “held” in the merchant’s gateway processing system until they are all complete and ready to be batched. The merchant will then process the batch all at once, so that all transactions are gone through and settle into their bank account at the same time. Retail merchants also follow this method, but they usually manually batch upload their transactions on a terminal, whereas with offline batch upload gateway processing, a specific time can be set to batch upload automatically through the payment gateway. Another benefit to this method is that merchants are able to view their transactions and keep a record of them the following day by downloading them via the gateway.
Typically, batch upload gateway processing settles the batches the following day which means that the money is deposited in about 1 to 2 business days from the date of the batch settlement. This means money in merchants’ pockets faster. Some processing methods can make merchants wait up to three days or more before receiving their settle deposits. With a high volume of offline processing, batch uploading gives the merchant much more control, and the ability to actually see what kind of volumes they are pulling in on a day to day basis. Most gateway processing providers also offer great security options, such as address verification and CVV2 requirements so that both the merchant and the customer is protected from fraudulent activity. Several transactions are stored in a single file, instead of having to deal with each individual file on a separate basis, making batch upload gateway processing the best solution for merchants with high volumes.