Reconciliation
For most payment methods offered by Buckaroo, payment transaction statuses are communicated directly by the bank or third-party payment processor as soon as the customer completes the payment process. Here's an overview of how reconciliation works for different payment methods:
Immediate payment methods (e.g., iDEAL)
- Guaranteed payment: For iDEAL, the bank immediately reports to Buckaroo once the payment process is completed.
- Status update: Buckaroo changes the transaction status to ‘success’ as soon as the bank confirms the payment.
Delayed payment methods (e.g., transfers, Sofort Banking)
- Delayed payment: For payment methods where the customer’s payment takes longer, Buckaroo waits until the payment is received.
- Status update: Once payment is received by Buckaroo or a third-party processor, the payment status is updated to ‘success’.
Collecting payment methods
- Stichting Derdengelden Account: All collecting payment methods are processed through the Stichting Derdengelden account (third-party account).
- Automatic teconciliation: Once an amount is received, it is automatically linked to the relevant successful transaction.
Handling unrecognized payments
- Common Issue: Unrecognized payments typically occur with transfers where the customer must accurately duplicate an amount and reference provided by Buckaroo.
- Manual reconciliation: If the customer does not duplicate the information correctly, the payment is received but not immediately recognized.
- Special team: Buckaroo's front office has a dedicated team to manually reconcile these payments and link them to the appropriate transactions.
- Discrepancy investigation: Any other discrepancies in reconciliation are investigated and remedial actions are taken to ensure proper accounting.
Guarantee of proper assignment
- Accountability: Buckaroo guarantees that each amount within the Stichting Derdengelden account is accounted for and properly assigned to the corresponding transactions.
- Remedial action: Continuous monitoring and action ensure that all funds are correctly reconciled and no amounts are left unaccounted for.
Updated 16 days ago