This guide is designed to provide helpful descriptions of industry billing terms used and clearly guide merchants through the details of their statement.
Access Your Statement in Merchant Home
Follow the steps below to access statements in Merchant Home.
- Log in to Merchant Home at https://my.clearent.net/ui.
- Select Statements and Tax Forms from the home view.
- To view one or more statement(s), check the box for each statement to view and then click “Download Selected”.
Statement Sections
Quickview Summary – Provides summary of volume and fees.
Card Type Summary – All monthly transactions by card brand.
Deposit Detail – Daily totals settled for the month
Fee Detail – Fees assessed by card brand (listed as Fee Description) and processor
(Processing Fees)
- Fee Description
- Processing Fees
Key Terms
- Chargeback: A transaction dispute sent from a cardholder to their issuing bank.
- Discount rate: An amount charged to a merchant for processing daily credit card transactions.
- Debit transaction: A bankcard used to purchase goods and services and to obtain cash, which debits the cardholder’s personal deposit account.
- Transaction: Any event that causes a change in an organization’s financial position or net worth, resulting from normal activity. Advance of funds, purchase of goods at a retailer or when a borrower activates a revolving line of credit. Activities affecting a deposit account carried out at the request of the account owner. One example of a transaction is the process that takes place when a cardholder makes a purchase with a credit card.
- Interchange: The domestic and international systems operated by Visa and Mastercard for authorization, settlement and the passing through of interchange and other fees, as well as other monetary and non-monetary information related to bankcard activities.
- Volume: The dollar value of sales that are processed by a merchant per month.
- Interchange Fee: Fees paid by the acquirer to the issuer to compensate for transaction-related costs. Visa and Mastercard establish interchange fee rates.
- Authorization fee: Processing charge for when a card is keyed or swiped, regardless of approval or decline.
- Monthly account fee: Base amount for Clearent services, including merchant support.