⚠️ New Feature - Limited Access. To activate, email us at support@rvvup.com
Card Payments: From 3DS to your Bank Account
Card payments have a unique lifecycle. Rvvup's Pay by Card solution makes it easy for your customers to pay securely and for you to track the steps the funds go through to securely make it to your bank account.
➡️ The Transaction Lifecycle
Step 1: Authentication (3DS)
When your customer provides their card information, Rvvup sends the customer’s card information to their issuing bank for authentication.
- Presently, 3DS authentication is in place for all card payments.
- Authentication via 3DS is required for payments under the PSD2 regulations adopted by the FCA, and also has the added benefit of providing you with liability protection from fraud chargebacks.
Step 2: Authorisation
When your customer authenticates the payment via 3DS, Rvvup sends the transaction to the acquiring bank, which then sends it to the customer’s card issuing bank for authorisation. The issuing bank checks for sufficient funds and will in most cases, hold these funds for later settlement.
⚠️ If your customer’s payment is declined by their issuing bank, the payment will stop
here & will record a “Decline” status on the payment with additional details logged
to the payment record. Click here for more details on payment statuses.
Step 3: Capture
After the payment’s authentication is successfully completed, funds must then be instructed to be “captured” to your bank account in the next settlement batch.
- Presently, all payments are immediately captured after authorisation, so you don't need to manually take action to complete a payment.
Step 4: Batch Settlement
At 21:59:59 GMT each day, all transactions and refunds from 22:00:00 the prior day are collected into a batch and are submitted to the card networks to instruct money movement from the customer’s issuing bank to your bank account.
Step 5: Payout / Disbursement
Once your settlement funds have successfully transferred, any fees, refunds, chargebacks are calculated into your Pay by Card portion of your Rvvup Payout.
⚠️ Pay by Card disbursements require a 25.00 GBP minimum balance in order to be
included in your Rvvup Payout. Amounts less or negative will be held until the
balance reaches the minimum threshold for disbursement.
👀 Example
Here is an example of the timeline for a successful Pay by Card purchase & disbursement:
- Monday, 10:00 GMT - your customer makes a purchase from your online store for £30.00 and chooses to Pay by Card.
- Subtracting the £0.56 transaction fee, your Rvvup Account balance is now £29.44
- Monday, 21:59:59 GMT (disbursement cut-off)
- Since your Pay by Card payments is at or over £25.00 before the disbursement cutoff, a payout disbursement begins!
- Tuesday, The previous day’s activity is batched up (including transactions, refunds, fees, etc.) and your disbursement balance is calculated.
- Wednesday, 00:00:00 GMT - Your Rvvup Payout of £29.44 is deposited into your bank account.
🏁 That's it! What's next? Check out this article on how to get started with Pay by Card.