Payment Service Processing

Modified on Fri, 12 Jan 2024 at 04:49 PM

Overview

Passport’s Paystation Processing feature enables you to use Passport Payments to manage, view, and reconcile transactions made at certified physical point-of-sale devices (e.g., meters and pay stations). By consolidating both digital and physical transactions into a single platform, you can streamline operations, gain valuable insights, and reduce costs across your operations.

With our Paystation Processing solution, the transactions will not originate in the Passport system. To ensure accuracy and consistency of how we present this data to clients, we decided to leverage the Settlement Date for the Paystation Processing records. This is unique to our Paystation Processing solution and we will continue to use the Transaction/Summary date for our other payment-related data and reporting.

What Is Paystation Processing?

This stand-alone payments option provides any hardware vendor certified to our backend settlement platform with the ability to submit authorized transaction batches to Passport for processing. It will allow Passport to support third-party POS device processing and settlement capabilities for Card Present (CP) Meters and unattended kiosks and extend partner opportunities via MID share.

Benefits

  • Better efficiency through daily settlement and automated reconciliation options 
  • Significant savings and increased cash flow while reducing processing fees by up to 50%
  • Flexible pricing and numerous payment options
  • Improved staff and customer experiences with efficient reporting 

What do settlement and funding look like? 

The Paystation Payment Processing feature will be able to support Daily and Monthly settlement. 

Note: Settlement is the transfer of value from the cards used to purchase a parking session to the clients’ merchant bank account (managed by Passport). 

Each day,  Passport collects the total credit and debit card purchases (settlement), removes the card network and merchant processing fees (net settlement), and transfers the net settlement funds to the client’s merchant bank account.  

The Settlement process typically takes 2-3 days to complete. For example, Daily Settlement clients would receive transaction activity from Monday (5/1) on Wednesday (5/3). 

Note: You can choose to receive settlement on a monthly basis. Monthly settlement options will accrue into Passport’s reserve settlement account under the same structure as daily. Funding to the you will occur at a mutually defined date.

Reports

Paystation Payment Processing provides two reports that can be leveraged by our Clients to help manage their data.  However, It is important to understand that with our Paystation Processing solution, the data will not originate in the Passport system.   To ensure accuracy and consistency of how we present this data back to clients we decided to leverage the Settlement Date for the Paystation Processing records. This is unique to Paystation Processing and we will continue to use the transaction/summary date in all other payment related data and reports. 

Each of these reports enables you to locate records and cross reference with your existing information. All reports provide the ability to use filters to narrow search results, schedule report, and download.

Settlement Period Summary - Universal Processing Report

Note: This report was formerly called Settlement Period Summary - Card Present.

The top section of the page displays the summary of aggregated results, while the bottom section of the page provides a summary by day.

Note: Each section exists as its own report, so you would need to download the aggregated summary and the daily summary separately.

Fields

Summary by Month

Column Name

Column Description

Invoice Month

Month the aggregation covers

Format: YYYY-MM

Operator Name

Operator Name

MID

Merchant ID

Net Settlement Amount

Format: $XXX.XX

Gross Revenue

Total parking payment amount + service fees

Format: $XXX.XX

Payment Fees

Fees charged to merchants for processing credit card payments Format: $XXX.XX

Refunds

Format: $XXX.XX

Chargebacks

Format: $XXX.XX

Transaction count

Total number of transactions for time period of report

Format: XXX

Summary by Day

Column Name

Column Description

Settlement Date

Settlement Date

Net Settlement Amount    

Net Settlement amount = Gross processing revenue - merchant processing fee - gateway fee - refund amounts - dispute amounts

Gross  Revenue    

is the total Parking payment amount + Service fee {if exist}

Payments Fees    

fees charged to merchants for processing credit card payments

Transaction Counts

Total number of transactions that occurred during the filtered date range 

Refunds    

Total refunds for all payment types

Chargebacks

These are the disputes that Passport payments team pulls from Finix/WP

Refund Count

These are the refunds that come in through our Processor

Chargebacks Count    

The number of chargebacks

Operator Name

Operator Name

MID

Merchant Identifier

Universal Processing Daily Transaction Report

Note: This report was formerly called Card Present Daily Transaction.

This report provides a detailed view of individual transactions that occurred during a specific time frame.    Unlike our other reports, this report lets you view daily volumes, troubleshoot transactions (e.g., missing, disputed, or in need of refunds) and help with their internal reconciliation processes.  

Column Name

Column Description

Transaction Date

Transaction Date and Time that payment was processed
(DD/MM/YYYY:HH.MMMM) 

Settlement Date

Date of Settlement (DD/MM/YYYY) 

Reference Number

The number assigned to the transaction by the Hardware provider

Net Settlement Amount    

Net Settlement amount = Gross processing revenue - merchant processing fee - gateway fee - refund amounts - dispute amounts

Gross  Revenue    

The total Parking payment amount + Service fee {if exist}

Payments Fees    

Total Fees charged to merchants for processing credit card payments

Transaction Type

Will pull the type of transaction {Payment, Auth, Void, Refund , Reversal}

Card Brand

Type of Card used when payment was  processed.

Card Expiration

Expiration date of the card used when payment was processed.

Card Tail

Last 4 digits of the card number of the card that was used when payment was processed.

Transaction ID

Settlement system ID {FINIX}

Related Transaction ID

Original Transaction ID tied to extended transactions

Operator Name

The name of the Operator the transaction is owned by

MID

The MID the transaction was processed against. 

Invoice Month

The Month the report is being run in (YYYY_MM) 

Learn More

Read more on our blog!

Was this article helpful?

That’s Great!

Thank you for your feedback

Sorry! We couldn't be helpful

Thank you for your feedback

Let us know how can we improve this article!

Select atleast one of the reasons

Feedback sent

We appreciate your effort and will try to fix the article