When a shopper places an order, the transaction information is sent to the issuing bank for authorization. The issuing bank will decide whether to decline the authorization or accept the authorization.
Use Bank Transfer statements to report out the settled net volume funded to your bank account during each respective funding cycle. Bank Transfer statements become available each business day. See the Payout Schedule for more information on how settlements are processed.
Funding Detail statements become available every business day and also at the end of each month.
Merchants can export transaction data for various reporting purposes from the Bolt Merchant Dashboard.
A funding withdrawal is the removal of funds from an account. Funds will be withdrawn from your bank account if the amount of refunds for a day exceeds the revenue for that day.
Bolt follows industry-standard practices for settlement and funding. The typical process takes approximately two days from order placement to availability, and works as follows:
Settlement is the process of managing electronic payment transactions so they can clear and be funded. When a payment is submitted, it is sent to the issuing financial institution for authorization. At this stage, the transaction is said to be unsettled and will be added to your unsettled balance. Card issuers require a daily confirmation (via a settlement batch) for all transactions.