Many clients will have the requirement to process customer credit card payments in a seamless fashion within Oracle AR. The Oracle Payments (previously iPayments in Rel 11) module enables this functionality working with Oracle AR using a 3 step process:
- Create Invoices: Create invoices in AR with payment method= ‘credit card’
- Credit Card Authorization: Create and approve receipt which includes getting approval codes through Oracle payments and Payment gateway/Payment Processor. Tyco is currently using Chase Paymenttech as a payment processor which Oracle has certified for R12 (Metalink Doc. ID: 471385.1) so we may want to use the same in the future.
- Credit Card Fund Capture: Generating remittances and capture fund through Oracle payments and Payment gateway/Payment Processor.
What is PSON?
- PSON stands for Payment Server Order Number and this is used by Payments during the funds capture settlement process. This field is located at receipt workbench and is populated by Oracle Payments after authorizing fund.
- Process for ACH processing:
- Oracle Payment, through Funds capture, supports ACH payment and can be integrated with any Payment system for Electronic fund transfer. For Tyco, Payment system can be their remittance banks.
- Process for ACH processing is same as credit card processing (Create Invoices, Authorization and Fund Capture/ Settlement) with following differences:
- Authorization step is optional for ACH
- ACH does not block funds during authorization
- Bank information is validated only once and then it is stored as a profile in Oracle payments whereas credit card payment needs approval (PSON) for every transaction.
