When you are working with the financial institution. You know that they keep every record in the right place. In terms of payment processing, they keep all the records on your merchant account statement. This is a statement which you receive from your merchant account required for payment service provider on weekly basis.
This statement shows all the transactions that were processed within a specific period of time. As a merchant, you are free to go back to the acquirer and request an investigation if you see any discrepancies. Most of the times there won't be any discrepancies primarily because the system used by payment service providers are highly advanced. Still in case if you notice that There's something missing on your merchant account statement then you should certainly contact your payment service provider or merchant account, acquirer.
The Merchant account statement clearly shows all the approved transactions, declined transactions and also shows you the refund and chargeback requests.
With the merchant account statement, you will be able to identify how much charges are you paying for a transaction and how much is your merchant account processor making every week and every month. This is a very strong document because you can use the statement to get a better rate from a different processor. No matter if you are processing credit cards, debit cards or electronic check. Your payment service provider will surely send you a statement either every week or monthly or sometimes they even send you a statement every 15 days.
The statement looks pretty much like a telephone bill. On the top, it mentions the name of the Merchant and the location it also mentions you descriptor that appears on the credit card billing statement of your customers.
It gives you a detailed breakdown of the number of the transaction as per different card brands. A detailed analysis of your statement can clearly explain the success ratio that you are getting from the merchant account provider.
This statement shows all the transactions that were processed within a specific period of time. As a merchant, you are free to go back to the acquirer and request an investigation if you see any discrepancies. Most of the times there won't be any discrepancies primarily because the system used by payment service providers are highly advanced. Still in case if you notice that There's something missing on your merchant account statement then you should certainly contact your payment service provider or merchant account, acquirer.
The Merchant account statement clearly shows all the approved transactions, declined transactions and also shows you the refund and chargeback requests.
With the merchant account statement, you will be able to identify how much charges are you paying for a transaction and how much is your merchant account processor making every week and every month. This is a very strong document because you can use the statement to get a better rate from a different processor. No matter if you are processing credit cards, debit cards or electronic check. Your payment service provider will surely send you a statement either every week or monthly or sometimes they even send you a statement every 15 days.
The statement looks pretty much like a telephone bill. On the top, it mentions the name of the Merchant and the location it also mentions you descriptor that appears on the credit card billing statement of your customers.
It gives you a detailed breakdown of the number of the transaction as per different card brands. A detailed analysis of your statement can clearly explain the success ratio that you are getting from the merchant account provider.
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