Checkout.com Brings Google Pay to Merchants
Checkout.com Introduces the Reconciliation API
Checkout.com’s Reconciliation API is a sophisticated solution that introduces automation to what was previously a highly manual and complicated task: reconciling payments with payouts and a merchant’s internal systems. Whether you’re a large-scale business operating globally or an SME with domestic operations, our Reconciliation API can assist in the automation of your reconciliation process.
How does it work?
Integrating with the Reconciliation API gives you access to a single source for payment and payout data, greatly simplifying the technical infrastructure of your reconciliation processes. Rather than integrating multiple data sources for each Gateway, Acquirer or geographical region (or worse, working completely manually), the Reconciliation API offers a single source that reduces technical complexity and allows you to focus on what you do best.
Direct integration with the Reconciliation API is easy and is supported by in-depth documentation and technical expertise from Checkout.com’s integration specialists. Depending on the availability of your resources, integration with the Reconciliation API should only take a few days.
Looking for the CSV extract? You can continue to extract CSV files until you’re ready to directly integrate, and you can get this immediately without the need for any development resource (and if you love CSV files, you can continue extracting in that format indefinitely).
How do merchants benefit?
Data. With redesigned payments and statements endpoints, merchants have access to more payment details and associated fees than ever before. By connecting your systems directly with our Reconciliation API, you can access payment data or download CSV files from a direct API call. Our Reconciliation API also offers unparalleled depth of payment and fee details across all card schemes and alternative payment methods, providing the specific details of any scheme fees, interchange fees and Checkout.com fees.
With the breadth of data provided by the Reconciliation API, you can utilize the data to aid in your strategic decision-making process and assist in commercial discussions.
Customization. The Reconciliation API supports an array of request parameters, allowing you to hone in on the data that matters to you most. For example, you can utilize Payout ID, Payout Currency and Statement ID parameters in the request to allow simple reconciliation between payments and payouts. Couple this range of parameters with the capability to support both API and CSV responses and you truly have a customizable experience tailored to your needs.
Convenience. By eliminating the manual reconciliation process, businesses can save time and money, reduce risk, and better utilize resources elsewhere in the business. We have introduced links between endpoints, meaning you can request summary-level data from the statements endpoint and then follow a link which returns all payments associated with that statement, simplifying the integration process and reducing any ambiguity in the response.
Accuracy. The reconciliation process is a crucial component of any business to ensure that financial records are accurate. The Reconciliation API empowers your finance team to perform their reconciliation processes quickly, efficiently and accurately, thus reducing the stress and effort associated with this task.
As a technology-first company, Checkout.com strives to make businesses better by removing complexity and reducing risk through sophisticated and innovative products that aim to help businesses grow. To learn more about our Reconciliation API, contact your Customer Success manager or get in touch with one of our payment experts today.
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September 29, 2023
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