A modified version of Bolt’s Merchant Dashboard is provided for Merchant relationships where Bolt does not handle payment processing. Read this article to be aware of:
- Which processing features are excluded
- The differences in financial items (pricing, invoices)
For non-gateway relationships, the following information is excluded:
- Unsettled Balance
- Settled Balance
- In Progress Transfer
For non-gateway relationships, the following information and functionality is excluded:
- Payment processing information
- Payment processing functions
Use your processor’s console to perform payment processing functions.
Transaction Timeline and Events
If a transaction was voided or captured outside of the Bolt system, that event is not included in the transaction timeline.
You will see the same transaction CSV download you would without CyberSource, but the processing fee will always be $0.
For non-gateway relationships, the following reports are excluded:
- The Transaction Events CSV.
- The Daily Bank Transfer CSVs.
- The Monthly Statement CSVs.
You cannot use Bolt’s Virtual Terminal.
Bolt does not charge a fee for processing; your processor will charge you. For non-gateway relationships, Bolt only charges fees for checkout and fraud.
Bolt sets the Bolt Fee to the mutually agreed upon amount, as specified in your contract. It is processed in Bolt’s internal systems but the fee won’t be captured automatically.
No money movement will occur within Bolt’s internal ledger service outside of transaction processing. At the end of each month, there will be a balance that you owe Bolt (Bolt Fees minus Credits for Indemnified Chargebacks). Bolt will zero out this balance monthly in the ledger.
At the end of each month, Bolt will calculate the Bolt Fee (using a pre-ordained query) and the chargeback indemnifications credit and send the merchant an invoice PDF.
The invoice will include:
- General Information
- Bolt Name / Address
- Merchant Name / Address
- Payment instructions
- Amount Due
- Bolt Fee amount
- Chargeback indemnification credit amount
- Total amount due
- Other Data
- Number of chargebacks indemnified
There are two common scenarios for non-gateway relationships:
- Bolt will automatically debit you via ACH for the invoice amount. (Preferable)
- You will wire Bolt the money on ‘Net 30’ terms.
If Bolt ends up owing you money (for example, due to the chargeback indemnification being more than the Bolt fee), Bolt will transfer money to your bank account at the end of the month.