Our settlement process has changed effective today.
Settlement reporting will continue to run on Sunday morning. Settlement transactions will be initiated on the following Saturday morning. For example, this week settlement funds will be deposited on the morning of Saturday, December 29.
This change better reflects the time elapsed between credit card processor, our bank and Dwolla account. As most shopkeepers know, credit card settlement is a 3-5 day process. Moving funds through the Dwolla network is also a 3-5 day process. Up to this point, GiftRocker has been settling ahead of receipt.
In 2013, we will introduce the option to work with your credit card processor starting with Authorize.net. Let us know if you are interested in this service.
Please contact Alex with questions or concerns.