Settling, or closing, the batch involves transmitting all authorization codes for approved credit and debit transactions to Vantiv for sorting and forwarding to the issuing banks. At settlement, the issuing banks release the funds to Vantiv, which in turn, deposits them into your account, typically within 48 hours of the transaction.
- Power on the terminal by pressing the Up arrow key on the bottom-left corner of the keypad.
- When the terminal finishes initializing, press the green OK button on the keypad to access the terminal's Core Menu.
- When prompted, enter the terminal's password using the keypad and press OK.
NOTE: The terminal’s factory default password is 1 2 3 4.
- Using your fingertip tap Settlement.
- Tap Settle Daily Batch. You may be prompted to enter the password again.
The terminal communicates with Vantiv and displays the relevant response from the host system (Approved or Declined). Once batch processing is complete, the terminal prints a report and returns to the Core menu.