When submitting a future initial billing and/or recurring order on our Virtual Terminal, we have two reports that provide information on these transactions. Future Initial Billing To review your future initial billing transactions, head to the Reporting dropdown menu and choose Future Billing Report. From there, all initial billing transactions and their subsequent (second) transaction…
Actum Processing, a third-party processor, solely works with merchants processing transactions (debits and/or credits) in the ACH or Automated Clearing House network. ACH, which has been in existence since the 1970s, does not happen in real-time. However, processing speeds have increased by leaps and bounds in the past 50 years. Typically, an ACH payment takes…
Altogether, our Payout Report serves as the central hub of information pertaining to your processing fees associated with your merchant account transactions. If there’s a report that breaks down a merchant’s overall activity, then this report provides an overall perspective. In this case, this entry walks merchants through on using and understanding our this report.…
When merchants process ACH transactions, they can accept authorizations in many ways. Each has its compliance requirements that merchants need to familiarize with when accepting ACH. The way in which ACH transactions are authorized depends on the Standard Entry Class (SEC) code(s). With this in mind, this post explains SEC codes along with Proof of…