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Payment processing system (Automatic / Manual)

Online payment processing influences creative technologies that enable companies to take payments through the web, including credit and debit cards. A payment processor is a company appointed by a distributor to manage transactions from different mediums such as credit cards and debit cards for a dealer earning banks. The timesaving allowed by online payments allows companies targets on their center business and prevent the problem associated with manual payments.

Types of payment processor

There are two types of payment processors. They are,

Front-end processors

Front-end processors have links to different card associations and fund approval and settlement services to the vendor banks’ dealers.

 Back-end.processors

 Back-end processors take settlements from front-end processors and, through The Federal Reserve Bank, for example, transfer the money from the distributing bank to the vendor bank.

Cloud MLM Software can be configured to use a payment processing system. We provide well-planned solutions in our MLM Software for payment process which is based on scheduled time and accuracy.  The Payment gateway integration, automatic payout processing, everything can be managed by our company.

Types of payment processing

Our payment processing includes,

Weekly Payout Processing.

Monthly Payout Processing

.Income wise Statement Details.

Deduction Details.

Sometimes the payment processor has taken confirmation that the credit card details have been confirmed, the information will be sent back through the payment gateway to the dealer, who will then finish the payment transaction. If verification is disagreed by the card association, the payment processor will send the information to the dealer, who will then deny the transaction.

Automatic payment processing

Automatic payment processing enables you to handle your payments, so you keep up company funds at maximum levels while distributing payments timely to take benefit of good discount terms. Use automatic payment processing system to pay vouchers as your typical payment cycle. Automatic payment processing include:

Withholding temporary taxes

Preparing vouchers for payment

Form vouchers for payment

Working with payments 

Working with payment groups

Renew the A/P register

Authorizing and posting automatic payments

Clearing automatic payments

 Manual Payments Processing system

To distribute a payment instantly, you do not want to stay for your next payment cycle. You can come into a manual payment though whether you have taken r the voucher. Manual payments can consist of payments:

With an existing voucher.

Without an existing voucher.

Based on either the payment raises an existing voucher or the voucher is developed at the time the payment is made, the system allows the following document and batch types:

To develop a manual payment for one or more vouchers that you have already entered, you enter a manual payment with a voucher match. You determine whether to print the payment. If you do not print it, you must form the payment manually.

The system keeps the records (payment numbers) required for the manual payments, develops a payment record, renew the pay status of the voucher, and decrease the open amount of the voucher. The Print Payment checkbox on the Manual Payment Entry form decides if the payment is printed. The processing choices on the Print tab allows you to define secure print characteristics such as payment instrument and print program version number.

 

 

 

 

 

Cloud MLM Software vision

Clients are our first priority. We always develop and customize the software according to their needs, which helps us to grab the title “Best MLM Software Development Company”. Within these years, we have delivered so many projects to our clients across different countries.” )

Why wait! You can start right away, while we develop the system for you, be busy on spreading the happy news of your Awesome upcoming MLM with the world!!

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