The client required an invoicing solution for its clubs and merchants. Their existing system was falling short so the client wanted a completely automated process which Invoicera provided.
The client settled and cleared transaction amounts processed by the client's system on a monthly basis. These transaction amounts were settled automatically when each month, the settlement files were sent from the client's system to client's bank (TD Bank in Canada) for clearing to our client's (Clubs and merchant) bank accounts.
In addition, the staff manually calculated any "billing item" such as transaction fees and sales tax (GST) on Accumulation of CAA Dollars transactions. The staff created a manual invoice for each of the CAA Clubs that shows the total transactions (by transaction type), taxes (GST), and any transaction fees, for all their members' card transactions.
Merchants did not receive any billing summary or invoice from the staff or the clubs. Each month, the client settled and cleared the transaction amounts (accumulated CAA Dollars), and then separately manually calculated the taxes (GST) and transaction fees and settled/cleared those amounts.
Merchants did not see a consolidated billing summary or invoice that shows the total amount (CAA Dollars + Taxes + Fees) that they have to be debited.
Invoicera provided the billing/invoicing capability that will include the following functionality for its clients, including both issuers and merchants: