Reconciliation for Third Party Acquirers
Matching & Merchant Reference
To ensure correct reconciliation between your internal systems and the settlement data provided by the platform, all matching is done based on the merchantReference field.
How Matching Works
Each transaction in the platform can be assigned a merchantReference. This reference:
- Is defined by you (the merchant) at the time of the transaction.
- Is propagated throughout the entire payment lifecycle (authorization, capture, refund, settlement).
- Appears in the Settlement Record and Bank Transaction objects.
By aligning this merchantReference with your internal booking or order ID, you can automate the reconciliation process with high confidence.
Important: If you use Settlement Directors or third-party reconciliation software, providing a consistent
merchantReferenceis strongly recommended to ensure traceability and auditability of funds.
Use Cases
- Accounting Systems: Link the payout to the originating invoice or booking.
- ERP Integration: Match settlements to internal cost centers or departments.
- Risk & Compliance: Provide transparency on where the funds originated from and how they were settled.
Best Practice
We recommend the following:
- Always generate a unique and meaningful
merchantReferenceper transaction. - Ensure the reference is persistent across refunds and re-presentments.
- Use the
merchantReferenceas your primary key when reconciling against the following:- Bank Transactions
- Settlement Records
- Transaction Events (Charges / Refunds / Refund Recoveries)