About batch settlement

Batch settlement is the process of transferring funds from authorized transactions to the merchant's bank account. Rather than settling each transaction individually,Reefpay groups transactions into batches that are submitted to the processor as a single unit.

As transactions are authorized throughout the business day, they are added to the current open batch. Each authorized transaction receives a batch_id in the response.

{
  "id": "TRANSACTION-01JMRSPCK7XVNP3KS8F2W4T6Y",
  "type": "sale",
  "transaction_state": "authorized",
  "batch_id": "BATCH-01JMRSPCK7XVNP3KS8F2W4T6Y",
  "amount": 1999
}

When the batch closes, all transactions in the batch are submitted to the processor for clearing. Batch closure can happen in two ways:

• Automatic: The batch closes on a schedule (typically at the end of each business day).
• Manual: A merchant or reseller closes the batch explicitly through the API.

After the batch closes:

1. The processor submits the batch to the card network (for card transactions) or ACH network (for bank account transactions).
2. The card network coordinates fund transfers between the issuing bank and the acquiring bank.
3. The acquiring bank deposits the net settlement amount (transaction total minus fees) into the merchant's account.

Settlement typically completes within 1–2 business days for card transactions and 2–3 business days for ACH transactions.

Retrieve batch history with GET /v1/batches.

curl -X GET \
  https://api.dev.paradisegateway.net/v1/batches \
  -H "APIKEY: YOUR-API-KEY"

Close the current open batch by updating its status with PUT /v1/batches/status.

curl -X PUT \
  https://api.dev.paradisegateway.net/v1/batches/status \
  -H "Content-Type: application/json" \
  -H "APIKEY: YOUR-API-KEY" \
  -d '{
    "status": "closed"
  }'

A batch includes all transactions that are in a capturable state when the batch closes.

Canceled (voided) transactions are removed from the batch before submission. Refunds are included as negative amounts, reducing the net settlement total.

| Event | Transactions | | :--------| :---------| :-----------| | Transaction authorized | Immediate | Immediate | | Batch closes | End of business day (or manual) | End of business day (or manual) | | Processor submits to network | Same day or next business day | Next business day | | Funds deposited to merchant | 1–2 business days after closure | 2–3 business days after closure |

Reconcile your records againstReefpay's batch data to verify that all expected transactions are accounted for.

1. List batches for the date range using GET /v1/batches.
2. Compare transaction counts and amounts against your internal records.
3. List transactions within a batch using GET /v1/transactions filtered by batch_id.
4. Check for discrepancies: missing transactions, unexpected cancels, or amount mismatches.
5. Log correlation_id values for any transactions that require investigation.

The amount deposited to the merchant's account is the net of all transactions in the batch, minus processor and interchange fees.

Net settlement = (Sales + Captures) − Refunds − Fees

Fees include interchange fees (paid to the issuing bank), assessment fees (paid to the card network), and processor markup. These are deducted before the funds reach the merchant's account.

For more information about fee structures, see About card networks and interchange.

• About the transaction lifecycle
• About cancels and refunds
• Closing a batch manually
• About card networks and interchange