Post Processing, Reconciliation & Settlement

The IXOPAY Post Processing Engine allows you to fully automate the exchange and reconciliation of transaction data with third party systems and service providers. Optimize the complex process of reconciliation while IXOPAY automatically draws your attention to potential conflicts. Our Post Processing Engine covers reconciliation and settlements, providing a central platform for consolidating data provided in various formats by different payment service providers.

Reconciliation

The reconciliation of transactions with payment service providers represents a number of challenges for eCommerce enterprises.

Different service providers handle this process in different ways. For example, one service provider may provide reconciliation data within seconds, whereas it may take several hours for another service provider. The format, semantics and granularity of the data often differ, generally as a result of the underlying payment method.

The IXOPAY Post Processing Engine standardizes the reconciliation process and any resulting conflicts across the board, independent of your payment service providers and payment methods.

IXOPAY’s reconciliation overview collates conflicts, such as incorrectly calculated transaction fees, missing reconciliation data and unidentified transactions in a clear manner. All conflicts that have been identified can easily be resolved from within the interface, drastically simplifying this task for your employees.

Settlements

Settlements involving service providers are retrieved automatically by the IXOPAY Post Processing Engine and cross checked. IXOPAY acquires raw data for the current time period directly from your payment service providers and automatically compares these with the values stored in your transaction database, taking into account the fees entered in the Fee Management Engine.

If any conflicts are identified, such as missing transactions, conversion or rounding errors, these are made visible to administrators who can also be notified directly. They can then immediately correct the records or mark them for further processing.

ETL

You can configure flexible ETL (Extract – Transform – Load) processes in the Post Processing Engine and schedule jobs to automatically supply third party systems (e.g. ERP or CRM systems such as SAP and Microsoft Navision) with the data they require. Alternatively, you can export aggregated records to an Excel sheet or send them via email.

To do so, you first define a data set. The platform then extracts the relevant data from the IXOPAY transaction database using freely configurable criteria, e.g. all successful transaction over the past week.

The second step covers processing the previously selected data. This can include aggregating data (e.g. the sum or all fees incurred grouped by various criteria), conversions (e.g. convert USD to EUR, apply regional date formats), or specific calculations applied at the row level (e.g. recalculating fees per transaction, calculating the margin).

The final step is to determine where and how the data should be transferred. In addition to the traditional options of exporting data to CSV/Excel files, you can also use proprietary interfaces (e.g. for ERP systems) or open protocols such as S/FTP and email.

Fee Management Engine

The IXOPAY Fee Management Engine allows you to depict a vast array of different fees of all types that are incurred when processing your payment transactions. All industry standard calculation modes are supported, from blended pricing to more complex models such as Interchange++. In addition to detailed transaction fees (e.g. intra- and inter-regional, personal/corporate cards and separate price points for specific transaction types), you can also use the Fee Management Engine to depict recurring fees, monthly fixed costs, minimum commitments, tiered pricing structures and rolling reserves.

If you are a white label customer, you can of course use the IXOPAY Fee Management Engine to depict your own fee models in order to then use these as the basis for calculating commission due to other sales partners (e.g. ISOs, affiliates).

The fee structures stored in IXOPAY are applied to all processed transactions in realtime and compared with the information received from your service providers during post-processing (in particular reconciliation and settlement processes). IXOPAY thus provides you with an additional and completely independent data source for checking your billing.

Depicting fee structures in detail also allows our enterprise merchants to forward transactions using the most cost-effective channel in conjunction with the IXOPAY Smart Routing Engine.

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