Single and Batch Postings

Your sponsor bank may decide to implement the postings functionality with Electrum. The corporate client and the sponsor bank must decide whether single or batch postings will be used.

Single Postings

For each successful payment, Electrum will send a posting notifying the sponsor bank of the completed transaction. The sponsor bank will use this information to credit or debit (depending on the type of payment) the corporate client’s merchant account with the specified amount. This means that, potentially, the sponsor bank would receive multiple postings each day, and make multiple separate payments into a merchant account. At the end of the day, the sponsor bank sends their corporate client a statement listing each debit or credit posting made to their account during that day.

Batch Postings

In order to simplify the postings process and reduce the number of messages sent, a batch postings option is available. Sponsor banks and corporate clients may wish to adopt this.

Batch postings will be sent at set intervals and will contain a batch of successful clearing instructions summed together against a given corporate client’s account. They include the following information:

• The aggregated (total) amount to be credited or debited.
• The batch posting batch ID (reference ID).
• The number of transactions the batch posting incorporates.

What You Need to Do

Although the single postings option is the default scenario, corporate clients may prefer the batch postings option.

The use of batch postings does not affect the way in which transaction processing is done for corporate clients. As a corporate client you do not need to implement any new functionality. However, you must be aware of this feature for when you perform your own reconciliation processes.

Electrum sends you a mark-off extract at the end of each day. This contains a list of all individual transactions for that day. If you are making use of batch postings then each transaction in the mark-off extract will contain the batch posting reference ID. If you wish to compare a transaction with the statement from your sponsor bank, you will need to refer to this batch posting ID to find out into which postings batch the transaction falls.