Credit Card Receipt

[mpdhas@gmail.com]

Can anybody provide the document for credit card receipt

[ajeeshmb]

Hi Das

Receivables lets your customers use a credit card to remit payments for open debit items. The procedure for processing credit card payments in Receivables is similar to the procedure for creating automatic receipts.

By providing a credit card number as payment, your customer expects that the credit card issuer will transfer funds to your bank account as payment for their open debit items. The Automatic Receipts program lets you collect payments according to a predefined agreement with your customer. The Automatic Remittances program transfers funds from the customer's bank account to yours on the receipt maturity date.

You must complete these steps to process credit card payments in Receivables:

1.Assign a credit card payment method and credit card bank account to the transactions that you want to pay by credit card.

2. Run the Automatic Receipts program to select the transactions that are flagged for credit card payment. The Automatic Receipts program creates a batch of receipts (payments) for the selected transactions.

3. Approve the batch of automatic receipts to reserve the payment amount from your cardholder's account and close the selected transactions. The Approve Automatic Receipts program sends the receipt batch to Oracle iPayment for credit card authorization. iPayment integrates with third party payment processors to authorize your customer's credit card account number and assign an approval code to the transaction.

If authorization is successful, then iPayment assigns the approval code and the receipt is approved. If authorization is not successful, then the receipt is rejected from the batch.

Hope this information will serve your purposes..

Regards

Ajeesh
Oracle Financial Functional Consultant