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Settlement & Reconciliation

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Balancing the books

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Settlement and Reconciliation

Reconciliation is an important step in an economic transaction. When a payment is reconciled, captured amounts for the payment are matched against the corresponding settlement.

The information needed to reconcile captured funds - the balance report and transactions list - are available for all merchants using Swedbank Pay.

  • By default, the settlement files will be sent to you by via e-mail.
  • We also have the option to send it via SFTP as well, if this is something you would like then you need to state this to your sales representative, so they can inform the setup team when the time is ready.
  • The settlement frequency is defined in the agreement and you will receive it (per default) once a month, or once a week.
  • You do not need to subscribe, the files will be delivered by default.

Contact omni.client@swedbankpay.se for further inquiries regarding this.

Settlement

There are two main alternatives for settlement - either we handle the settlement process for you, or you handle the process yourself:

Swedbank Pay handles the settlement process

Swedbank Pay handles the settlement process on your behalf, (called “Redovisningsservice”). Swedbank Pay transfers the net amount to you directly.

Swedbank Pay Checkout

When choosing Swedbank Pay Checkout we always handle the settlement process for you, gathering all your eCommerce payments in one place. Straighforward and time efficient.

You handle the settlement process yourself

If you will handle the settlement yourself, then Swedbank Pay will send you an invoice with the relevant fees, in addition to the report and transactions lists. Your acquirer will transfer settled funds to you.

Balance Report

The Balance Report (a .pdf file) specifies the total sales for a specific period, including fees and VAT. The report contains three parts: a payment summary and specifications for sales and for fees.

Payment Summary

Provides a summary of the Amount sold, Fees and VAT. If Swedbank Pay handles the settlement process, the Transferedamount - shown in the balance report summary is equivalent to the disbursement on the bank statement (the remaining total amount after fees).

Sales specification

Provides a specification over sales for the given period. The sales total is specified per payment area (CreditCard, Invoice) and underlying payment instruments. Each sales row specify Quantity, Sum sales and Amount to pay out, the last one is only eligble if Swedbank Pay handles the Settlement process.

Fees specification

Provides a specification over fees for the given period. The fees total is specified per payment area (CreditCard, Invoice) and underlying payment instruments. Each fees row specify Quantity (sales), Amount (sales), Unit price, Provision and fee Amount. If you handle the settlement process yourselves you will receive a separat invoice for fees.

Transactions List

The Transaction List (provided in .xlsx and .xml formats) specifies all transactions for a specific period, including a summary of transactions grouped by payment instrument. Both formats contain the same information, but the xml file is meant for computer processing while the excel workbook is meant for human interaction.

The first row contains the name of the Swedbank Pay company (e.g. Swedbank Pay Solutions AB) that the merchant has the contract with, and the balance report number. The header fields contain a summary of the transactions displayed in the body.

Header fields
Field Type Description
Prefix String The Prefix used for transactions, only eligible if merchant uses prefix.
Currency ISO 4217 Settlement currency (e.g. SEK, NOK, EUR).
ServiceType String The service type of the service used (e.g. Creditcard).
Service String The service used (e.g. Creditcard).
NoOfDebet Decimal Total number of debit transactions for the given service.
NoOfCredit Decimal Total number of credit transactions for the given service.
Amount Decimal Total amount for the given service (e.g 100.00).
FromDate ISO 8601 The earlistest transaction date, YYYY-MM-DD.
ToDate ISO 8601 The latest transaction date, YYYY-MM-DD.
Body fields
Field Type Description
Swedbank Pay Batch Number Decimal A batch number common to all types of transactions processed by Swedbank Pay.
Transaction Number Decimal A unique identifier of the transaction, can be traced in Swedbank Pay Admin user interface.
Order id String A unique identifier of the order, as sent from the merchant to Swedbank Pay. Transactions that are related to the same order are associated with this ID.
Date Created ISO 8601 Transaction capture date/time. YYYY-MM-DD hh:mm:ss.
Date Modified ISO 8601 Transaction settle date/time. YYYY-MM-DD hh:mm:ss.
Provider String The service provider (e.g. Babs, Swedbank).
Type String The service type of the related transaction (e.g. Creditcard).
Amount Decimal Total amount of the related transaction (e.g 100.00).
Currency ISO 4217 Settlement currency (e.g. SEK, NOK, EUR).
Product Number String A product number, as sent by merchant to Swedbank Pay.
Description String A textual description of the transaction, as sent by merchant to Swedbank Pay.
VAT Amount Decimal VAT Amount for the given transaction (e.g 100.00).
VAT Percentage Decimal VAT Percentage for the given transaction.
Credit Card Batch Number Decimal The reference number from the credit card processor.
Reference Decimal The transaction reference from processor.
Swedbank Pay Account Number Decimal The Account number given, shown in Swedbank Pay admin.
Referenced Transaction Number Decimal Transaction number for the Authoriation transaction for a two-stage transaction or the number of the debit transaction if it is a credit transaction.
Sales Channel String The channel through which the transaction was sent to Swedbank Pay (e.g Transaction via eCommerce APIs).
Brand String If eligible, Branding information as sent by merchant to Swedbank Pay.
Point Of Sale String If eligible, POS information as sent by merchant to Swedbank Pay.

Reconciliation

To do the reconciliation, you need to match the information in your system against the information provided by Swedbank Pay in the balance report and transaction list. Below is a sequence diagram detailing the interaction.

sequenceDiagram
    participant SwedbankPay as Swedbank Pay

    activate Merchant
    activate SwedbankPay
    Merchant-->>SwedbankPay: Online payment transactions
    deactivate Merchant

    deactivate SwedbankPay

    activate Merchant

    SwedbankPay->>Merchant: Balance Report (PDF-file)
    note left of Merchant: files are sent by e-mail or file transfer
    SwedbankPay->>Merchant: Transaction list (XLSX-file)
    SwedbankPay->>Merchant: Transaction list (XML-file)
    deactivate Merchant

There are two ways for you to match the information from your system with the information given in the reconciliation files from Swedbank Pay:

  1. You can use information generated by your system (you will have to set a unique payeeReference when you make the transaction), or
  2. You can use the transaction number generated by Swedbank Pay (this is called transaction number and is returned from Swedbank Pay after you have created the transaction).

A credit card transaction is made when you either make a capture or a reversal. In the input data for making a capture, you will set the payeeReference. The unique value of this field is the same as the field called OrderID in the reconciliation file.

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{
    "transaction": {
        "amount": 1500,
        "vatAmount": 0,
        "description": "Test Reversal",
        "payeeReference": "ABC123"
    }
}

When you receive the response from Swedbank Pay, the response will include transaction.number. This is the same as the field called TransactionNo in the reconciliation file.

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{
    "payment": "/psp/paymentorders/payments/7e6cdfc3-1276-44e9-9992-7cf4419750e1",
    "capture": {
        "id": "/psp/paymentorders/payments/7e6cdfc3-1276-44e9-9992-7cf4419750e1/captures/ec2a9b09-601a-42ae-8e33-a5737e1cf177",
        "transaction": {
            "id": "/psp/paymentorders/payments/7e6cdfc3-1276-44e9-9992-7cf4419750e1/transactions/ec2a9b09-601a-42ae-8e33-a5737e1cf177",
            "created": "2016-09-14T01:01:01.01Z",
            "updated": "2016-09-14T01:01:01.03Z",
            "type": "Capture",
            "state": "Initialized",
            "number": 1234567890,
            "amount": 1500,
            "vatAmount": 250,
            "description": "Test Capture",
            "payeeReference": "ABC123",
            "failedReason": "",
            "isOperational": false,
            "operations": []
        }
    }
}
  • payeeReference sent to Swedbank Pay is equal to OrderId in the reconciliation file.
  • capture.transaction.number returned from Swedbank Pay is equal to TransactionNo in reconciliation file.

Below you will see the API mapping tables to the fields in the settlement report for Capture and Reversal.

Capture

API XLSX XML  
  Swedbank Pay Batch Number SwedbankbatchNo  
transaction.number Transaction Number TransactionNo  
transaction.payeeReference Order id OrderId  
transaction.created Date Created DateCreated  
  Date Modified DateModified  
  Provider Provider  
  Type Type  
transaction.amount Amount Amount  
  Currency Currency  
  Product Number MerchantProductNo  
transaction.description Description Description  
transaction.vatAmount VAT Amount VATAmount  
  VAT Percentage VatoPercentage  
  Credit Card Batch Number CreditCardBatchNo  
transaction.number if DirectDebit Direct Debit Bank Reference DirectDebitbankRef  
transaction.number if DirectDebit Reference Reference  
  Swedbank Account Number SwedbankAccountNo  
transaction.number if reversed later Referenced Transaction Number ReferencedTransaction  
  Sales Channel SalesChannel  
  Brand    
  Point Of Sale    

Reversal

API XLSX XML  
  Swedbank Pay Batch Number SwedbankbatchNo  
transaction.number Transaction Number TransactionNo  
transaction.payeeReference Order id OrderId  
transaction.created Date Created DateCreated  
  Date Modified DateModified  
  Provider Provider  
  Type Type  
transaction.amount Amount Amount  
  Currency Currency  
  Product Number MerchantProductNo  
transaction.description Description Description  
transaction.vatAmount VAT Amount VATAmount  
  VAT Percentage VatoPercentage  
  Credit Card Batch Number CreditCardBatchNo  
transaction.number if DirectDebit Direct Debit Bank Reference DirectDebitbankRef  
transaction.number if DirectDebit Reference Reference  
  Swedbank Account Number SwedbankAccountNo  
  Referenced Transaction Number ReferencedTransaction  
  Sales Channel SalesChannel  
  Brand    
  Point Of Sale    

Samples

The content of the files depends on the type of agreement you have made with Swedbank Pay. For some payment instruments, only option A is available, while for other payment instruments, only option B is available. The sample files can be downloaded below.

Option A: Swedbank Pay handles the settlement process

Option B: You will handle the settlement process yourself

Split Settlement

The split settlement feature is the easy way of doing settlements for companies with multiple sub merchants. With a few easy steps, the settlement process becomes more efficient with regards to invoicing, payouts and setup for both your sub merchants and yourself.

In short, it is a settlement feature where a company with a website or an app can attach specific subsite numbers to sub merchants selling their goods or services through the company. The subsite number is used to match the transactions with the correct sub merchant, so the settlement is automatically split between them. If you run a site selling tickets to concerts, theatres, sporting events etc., each venue gets its own subsite number. If you run a funeral home, the sub merchants can be everything from flower shops to charities.

What we need from you as a company

  • Submit a KYC (Know Your Costumer) form for each sub merchant you want to include. We will also do a KYC check on your sub merchants, providing extra security for you.
  • Give every sub merchant who sells goods/services through your website or in your app a unique subsite number. This must be included in the KYC form. We recommend using the same customer number they have in your system.
  • Attach the subsite number to all the goods/services the sub merchant sells through your website or app, so the goods/services can be matched to the correct merchant in our back office system.
  • A partner agreement is needed for automatic deduction of revenue cuts and fees.

How it works

  1. We set up the sub merchant subsite number in our systems.
  2. That number is added in the requests subsite field in when you create the payment for the goods or service.
  3. The customer selects payment instrument and completes the payment.
  4. The payment goes into the client funds account.
  5. Swedbank Pay matches the transaction and the merchant using the subsite number.
  6. The settlement is split and connected to the correct merchant.
  7. Revenue cuts for the super merchant and fees from Swedbank Pay are deducted automatically.
  8. Payout to the sub merchant is done.

The upsides

Sub merchants being connected to Swedbank Pay through the super merchant instead of having separate setups has a lot of pros:

  • You only need one agreement for each payment instrument (credit card, Vipps, Swish, MobilePay Online, invoice) and payment gateway.
  • You only need one acquiring agreement.
  • You only one Vipps or Swish certificate.
  • You can add more payment instruments easily, as it only has to be done once.
  • New sub merchants can be set up quickly, as the only thing needed is a KYC form and a subsite number. This shortens the setup time for both you and us to a matter of hours.
  • The automatic settlement split and deduction of fees and revenue cuts minimizes the work for your accounting department, as you do not have to invoice your sub merchants.
  • The subsite split is available for all the payment instruments we offer on our eCom platform.

Good to know

With regards to admin functions, we offer a full integration towards our admin system. This way, you do not have to log in to Swedbank Pay Admin to perform these operations.

Captures and cancels

Captures and cancels are done by the super merchant the same way as any other normal flow.

Reversals

In cases where you need to do reversals, this will be performed by the super merchant. The reversal amount will be charged from the sub merchants subsite number. If the sub merchants balance is 0 (zero), the super merchant will be invoiced. The super merchant will in turn have to invoice this amount to the sub merchant.