A transaction is when your customer uses their card to pay for your goods or services. Card payments can be made on your POS terminal, ePOS or a payment page. A transaction can be both successful or unsuccessful.
What is a successful transaction?
A successful transaction is a transaction that was approved in the system and transferred to the settlement cycle. SaltPay pays out all successful transactions on the following business day. Your total daily transaction value is paid in the form of a settlement, that means after fees have been deducted.
What is an unsuccessful transaction?
A transaction is unsuccessful if it's not processed by the terminal, and the amount is not deducted from the customer’s card. The reasons for an unsuccessful transaction can vary, some examples include connectivity issues, wrong PIN, insufficient funds, etc.