After a merchant applies to a bank, once the required checks on the company (termination check, the customer's financial status, etc.) are completed in the bank's system and the decision is made that the merchant can be worked with, a POS is connected to that customer.
So how does the money from transactions made through the POS get transferred to the merchant's account?
When a POS is connected to a merchant, a specific pricing arrangement is agreed upon. There can be 3 different agreement types with merchants:
- Commission-based
- Held (reserve)
- Both commission-based and held
For example, let's say the merchant made a 100 TL transaction at the end of the relevant day;
For merchants operating on a commission basis: If the merchant has agreed to a 3% commission arrangement, 3% commission is deducted the day after the transaction and 97 TL is transferred to the merchant's current account.
For merchants operating on a held basis: If the merchant has agreed to a 40-day hold arrangement, the transactions wait in a hold account opened by the bank for 40 days before being transferred to the merchant's current account.
For merchants operating on both a commission and held basis: If the merchant has agreed to a 20-day hold and 1% commission arrangement, the transactions wait in a hold account opened by the bank for 20 days, and on the value date(*), 1% commission is deducted and 99 TL is transferred to the merchant's current account.
The arrangements described above. -Upfront/Installment transactions
Transaction Type (Sale, Mail Order, E-commerce Sale, etc.)
can be managed separately based on Transaction Source (Onus, Domestic, International).
(*) Value Date: the date on which the transaction will be transferred to the merchant's current account.
