Actinic payment delay

[chris ashdown]

I seem to have heard that Actinic Payments update yesterdays payments to the Streamline etc every morning at 09:00

When I was with Protx (SagePay) the apparently did the transfer late in the evening rather than the next day

This small time delay means we get our dosh now a day later than when at SagePay

Could not actinic transfer the payments just after 18:00 each day which would be to all our benifit

[leehack]

Might be linked to manned hours Chris, actinic closes down at 5pm ish, someone probably oversees it in the morning, if its not fully automatic. Probably an argument to say that next day is the best way too as you get a whole days money then, at 1800 you'd be paid just before the main part of the transactions is about to start, nice to be paid for a 24 hour period that is one complete day, not stretched over 2.

[chris ashdown]

Lee most companies close at 17:00 or 17:30 so no more transactions after that, it's actually taking the dosh not orders

Actinic is offering a proffessional service so a late evening for someone should not be a problem and probably find its all done automatically anyway just timed for next day

[leehack]

Hmm fair point, exclusively online companies do still operate on traditional office hours, all a bit bizarre really, they're never open at their busiest times. Thought processes will modernise one day no doubt.

[chris ashdown]

Doubt they will change as restricted by hours the courier companies collect or post office are open

We do actually get more orders in the day than a night time, nice phone calls in day and shitty emails at night, funny old world ain't it

[Darren B]

I had thought the polling was done in the early hours, something to do with the way banks run their debits and credits. Although i would prefer my days round up to have been done on the day they money was taken not the day after.

I poll my manual terminal at the end of everday and this is also with streamline and yes the money appears alot faster than when processed online.

Think about it, if you can hold onto millions for 24hours what would the interest be?

[chris ashdown]

Think about it, if you can hold onto millions for 24hours what would the interest be?

Boy o Boy your kite sites must be doing ok or is it the lanterns

[Darren B]

Boy o Boy your kite sites must be doing ok or is it the lanterns

LMFAO actually the kites are kinda quiet this time of year but thats usual. reminds me i need some more clothing, if i dont ring you next week drop me an email and remind me please Chris

[chris ashdown]

Thanks will do, busy this coming week as moving to 3000Sq Ft new office and warehouse look for red roof building on this link, shop and offices on left with glass front under shutters, warehouse on right

http://maps.google.co.uk/maps?f=q&so...,64.33,,0,3.79

[Darren B]

Nice one chris, no probs though, i'll let you settle in before hassling you

cheers
Darren

[cbarling]

Each PSP has a set time to do their settlements with the bank (acquirer) when they settle for ALL merchants with that PSP.

It's pretty hard to change as it impacts all customers (not just Actinic ones) and the banks don't want everyone settling at the same time due to the load on their systems.

Most of Creditcall's slots are at 9 - 9.15 in the morning.

Chris

[chris ashdown]

I understand that Chris, but it does put your company at a disadvantage in taking 3 days to get payment when others take only 2 days like Sagepay, afterall thats a 15 hour dalay doing nothing from close of nearly all businesses to when money transfer even starts.

Creditcall must be quite a way down the pecking order to have to wait 15 hours or even 9 hours if done at midnight

[Mike Hughes]

Not sure I understand how 3 days comes into it.

Using PayPoint (SecPay as was) the days transactions are credited to my bank account as a batch "in the early hours of the following day".

Are there some PSPs holding onto the money for a day or two before passing it on?

Mike

[cbarling]

No PSP can hold onto money as they never see it.

The "settlement" is an instruction to the bank to settle and it's between the issuer and the acquirer what happens from that point on. No PSP has any control over the downstream process. In fact, if the bank decides not to settle the transaction (which happens very, very occasionally) they don't even tell the PSP.

Chris

[Mike Hughes]

Good point Chris.

I guess I was wondering if maybe the merchant account people are getting involved somehow. Much like the unverified accounts worldpay and others offer that sometimes hold onto the money for 30 days or more before transferring it.

If the merchant accounts aren't delaying things then I wonder what's causing Chris' concern? I've always thought it quite impressive how quickly the money gets transferred but wonder if I've been missing something.

Mike