Paysafe / Meritus: Settling Credit Cards

In this article, you will learn about settling credit cards.

Set the Settlement Time

After charging a credit card through your Store account it gets put into a “holding tank” on your Paysafe / Merchant account. Before this payment is has been settled, in Store you can only do a void. This is like canceling the transaction as if it never existed. In your Store account there will be a record of the purchase and return / void. After the transaction has been settled, you can no longer do a void. You can at this point do a return / refund.

In the Paysafe site you have the ability to either manually settle your transactions or automatically settle transactions. By default the system is set to automatically settle transactions at 1:00pm PST. If you wish to change the settlement time, log into your Paysafe – Payment XP account https://www.paymentxp.com and select Settings / Gateway Options.

Then select your Settlement Time. Please note that it is in PST timezone.