Before you authorize and process a credit card payment through Sage Exchange, it is important that you understand the following information.
According to Visa and MasterCard Association regulations, you cannot charge the cardholder for a sale until the product has been shipped or a service is performed. In other words, you cannot charge customers on the date the product was ordered; you can only charge when the order is fulfilled. Sage 50 prevents this practice by allowing you to enter and authorize credit card payments only from the Receive Money and Sales/Invoicing windows. You cannot enter or process credit card information from the Quotes window or the Sales Orders window. At the gateway provider Manager Web site, you can establish whether your transactions are digitally fulfilled or physically fulfilled.
Sage Payment Solutions uses Sage Exchange to authorize and process credit card transactions in a "card-not-present" situation. The credit card does not need to be physically present to authorize the transaction, as it does if you use a credit card swipe terminal. For example, you can get credit card information from your customer over the phone or from a Web site sales order. All you need is the customer name, the customer's address, transaction amount, the card number, and the card expiration date. You may also need the card verification number. You will click Process from the Receive Money or Receive Money at time of sale screen and enter Sage Exchange where you can enter the credit card information and authorize the payment.
This processing method gives you more flexibility and enables you to authorize and maintain credit card payment transactions through Sage 50.
Be aware that you are responsible for safeguarding against fraudulent credit card transactions. To learn about ways to reduce fraud, see the User Manual available from the Help menu in the Virtual Terminal application.
If you use Sage Exchange and the credit card payment is approved (authorized), the transaction amount will be processed (settled) by the payment service in daily batches. The default Batch Settlement Time preference is approximately 3:00 AM (Eastern time) each day that authorizations are requested. You can change your daily batch settlement time preference at the gateway provider Web site. Contact your merchant account provider to determine when funds are deposited into your business checking accounts.