Transaction Lifecycle
As credit card transactions are made, either via a Compass-360 web portal or the Compass-360 application, data will move through Compass-360, to your merchant account, to your bank.
Note: this help document assumes the use of Stripe as your merchant processor. Other supported merchants will follow the same pattern.
Lifecycle
Create
There are two main ways a credit card can be processed in Compass-360.
- 1: Online campaign / donation / event portal
- 2: Within the application
A transaction that originates from an online portal will first create an income record that will have the status of pending. These transactions will need to be matched to a constituent.
A transaction from within the application will already have an income record, or you are in the process of creating one.
Process
Next, Compass-360 will attempt to process the card sending the transaction information, including the income record ID, to Stripe.
Compass-360 does this in real time, and you or the user will be notified of a successful or failed transaction.
Batch & Deposit
Depending on your payout schedule, Stripe will accumulate transactions and automatically deposit into your bank account. This is usually once every few days once transactions reach a high volume.
Reconciliation
Once a batch is complete, Stripe will notify Compass-360 with the individual income records that were apart of that batch.
Along with this is a unique batch ID – or batch number. The income records that were apart of the batch deposit will be marked with this batch ID within Compass-360.