How to find the transaction is settled/Unsettled in Authorize.net?

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How to find the transaction is settled/Unsettled in Authorize.net?

Hello there,

How Can I find whether the transaction made by user is settled or Unsettled in the authorize.net.I am using AIM. I want to get through coding.When the transaction is completed and I cant find transaction status.But I want to get whether it goes for settled or unsettled transaction. Thanks in advance.

+3 A:

You cannot get this information through coding as no API Authorize.Net offers allows for this. It can only be done through the control panel. When you process a transaction and it is approved you can assume the transaction is unsettled. Transactions are settled once per day usually around midnight Pacific Time. After that you can assume a transaction is settled.

John Conde 2010-07-06 12:13:54

Ah, I didn't know that. What exactly does it mean when a transaction is "unsettled"? Have the funds not been deducted from the purchaser yet? Or does it just mean the funds are in between the purchaser's account and the merchant's account (e.g. being held by Authorize.net)?

Lèse majesté 2010-07-06 13:23:26

To make the process of handling transaction easier for everyone involved (merchant, acquirer, processing bank) transactions are processed in batches once per day. An unsettled transaction has the funds held on a cardholder's credit card for the merchant purchased from. Once that transaction is settled the funds are taken from the cardholder and transferred to the merchant. As soon as an approval code is given for a transaction, as far as the merchant is concerned, the transaction is complete and they can count on receiving that money within 2-3 business days depending on the kind of card.

John Conde 2010-07-06 13:27:56

Thanks John conde. My doubt is after 12 hours if it is unsettled transaction (ie if it is failed for validation when the bank people go through it(I dont know whether this situation will arise or not)) is there any posibilities to inform the merchant to make the refund(unheld) the amound for the user.

vinothkumar 2010-07-07 10:37:10

Unsettled means it is just not submitted for payment to you. Once the approval is given it can't fail validation or anything because no more validation is done.

John Conde 2010-07-07 12:10:17

Thanks Johny.It really makes the clear idea.

vinothkumar 2010-07-09 04:18:21

ansaurus

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How to find the transaction is settled/Unsettled in Authorize.net?

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