Payment Processing System (Automatic/ Manual)
Cloud MLM Software is enhanced with a range of features. It includes both basic and pro features designed to accelerate the performance of your MLM business.
Cloud MLM Software is enhanced with a range of features. It includes both basic and pro features designed to accelerate the performance of your MLM business.
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 prevents the problem associated with manual payments.
Cloud MLM software provides two types of payment processors. They are,
Front-end processors have links to different card associations and fund approval and settlement services to the vendor banks’ dealers.
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
Generate different types of reports which are useful in MLM Software, allowing you to oversee the progress of your entire organization. All reports are in real-time, and include the followings :
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 enables you to handle your payments, so you keep company funds at maximum levels while distributing payments timely to take advantage of good discount terms. Use an automatic payment processing system to pay vouchers as your typical payment cycle. Automatic payment processing include:
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 the voucher. Manual payments can consist of payments:
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.
