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Reconciliation and settlement

Alipay provides financial reports to help you streamline your business workflows:

  • Use the settlement reports to check the total number of transactions in a period of time and the amount for settlement.
  • Use the transaction report to check details of all successful transaction records, including records of payments and refunds.

With these reports, financial tasks such as validating funds received and reconciling balances can be completed more efficiently.

Settlement

Alipay performs a merchant settlement at the end of each settlement period. This process occurs at the end of each settlement cycle or occurs when the settlement amount reaches some pre-defined level of imbalance (trigger-point).

Settlement cycle

The settlement cycle for AlipayCN and other Alipay+ MPPs are as follows. If a shorter settlement cycle is wanted, contact technical support for a customization assessment.

  • AlipayCN: T+2
  • Other Alipay+ MPPs: T+4

Settlement modes

If multiple wallets are supported in your system for payment service, two settlement modes exist:

  • Settlement for a single wallet: settlement for each Alipay+ MPP is conducted individually
  • Settlement for multiple wallets: combined settlement of all Alipay+ MPPs.

Note: For the multiple wallets settlement mode, all wallets must be settled together, without the option of choosing some of the wallets to settle together.

The settlement mode specified in the contract influences the file name of these reports: Settlement Summary, Settlement Items, and Transaction Items. For example, if you specify the multiple wallets settlement mode when signing the contract, the Settlement Summary and Settlement Items reports will be generated with the file naming rules of multiple wallets settlement, even if only one wallet is involved for settlement. For more details about the report names, see Obtaining reports.

Reconciliation

For reconciliation, use the following three types of reports:

  • Settlement Summary: provides summary information, such as the total number of transactions in a period of time and the amount for settlement. For every clearing cycle, a settlement summary report is created, therefore, with the Settlement Summary report, you can check the summary of all clearing data in each clearing cycle.
  • Settlement Items: provides transaction details within a settlement cycle. This file is provided in a document form and is generated along with the summary file of the settlement cycle.
  • Transaction Items: provides all successful transaction details on T day, including records of transactions and refunds. This file is generated on the T+1 day.

Tasks and reports generation dates

The following table shows the reports provided by Alipay and tasks that can be performed by the corresponding reports:

Report

Tasks

Generation Date

Report sample

Settlement Summary

  • View the summary of all clearing data in each clearing cycle
  • Identify discrepancies between summary report and detail report

Generation dates are different for AlipayCN and other Alipay+ MPPs:

  • For AlipayCN: T+3
  • For other Alipay+ MPPs: T+5

Download

Settlement Items

  • View transaction details within the settlement period
  • Perform reconciliation and funds settlement

Generation dates are different for AlipayCN and other Alipay+ MPPs:

  • For AlipayCN: T+3
  • For other Alipay+ MPPs: T+5

Transaction Items

  • View transaction details of the corresponding T day, including records of transactions and refunds.
  • Validate funds received and refunded

Generated on the T+1 day.

Table 1. Reports and tasks

The following graphic shows the reports generation date and settlement date for Alipay+ MPPs:

  • The Settlement Summary and Settlement Items reports are generated one day after the settlement date.
  • The Transaction Items report is generated one day after the transaction date.
  • The settlement occurs at the end of each settlement period. If settlement fails due to insufficient funds, there will be no settlement files.

image

Figure 1. Reports generation dates

Notes:

  • Alipay+ MPP: Alipay+ Mobile Payment Partner, is an organization that processes payment services and other value-added services on behalf of the payer. For online and in-store payments, an Alipay+ Mobile Payment Partner is a digital wallet, such as GCash.
  • About the commission fee:
    • In the sandbox environment, the commission fee is a fixed value of 10 and is in the currency's smallest unit. For example, for a transaction in USD, the commission fee is 10 cents.
    • In the production environment, the commission fee is calculated based on the real merchant discount rate (MDR).

Report fields details

Each reconciliation report delivers information about the transaction by using several fields. The following table shows the description about the important fields in each reconciliation report and in which reconciliation report the field will appear:

Fields and descriptions

Reports

Transaction report

Settlement reports

Transaction Items

Settlement Items

Settlement Summary

settlementBatchId

Identify a settlement cycle where a group of transactions is settled at one operation

✅

✅

count

The number of transactions in the settlement operation

✅

summaryType

Transaction type (Payment, Refund, Cancel, or Total) for the summary row

✅

customerId

The unique ID assigned by Alipay to identify a merchant

✅

✅

✅

referenceMerchantId

The unique ID assigned by the acquirer to identify the merchant that directly provides services or goods to users

✅

✅

referenceStoreId

The unique ID of the store that belongs to the merchant

✅

✅

transactionType

Transaction type, such as PAYMENT, REFUND, CANCEL, etc

✅

✅

transactionId

The unique ID assigned by Alipay to identify a transaction

✅

✅

originalTransactionId

The unique ID to identify the original transaction when the transaction type is REFUND

✅

✅

transactionRequestId

The unique ID assigned by the merchant to identify a transaction request

✅

✅

originalTransactionRequestId

The original payment request ID of the transaction when the transaction type is REFUND or CANCEL

✅

✅

referenceTransactionId

The unique ID assigned by the merchant that directly provides services or goods to users, to identify a transaction

✅

✅

orderDescription

Description about the order

✅

paymentMethodType

The payment method used to collect the payment by the merchant or acquirer

✅

✅

pspName

Name of the Alipay+ Mobile Payment Partner (Alipay+ MPP)

✅

✅

paymentTime

The date and time when the corresponding transaction reaches a final status of success or failure

✅

✅

settlementTime

The date and time when the settlement file is generated

✅

✅

productCode

Identify the payment product that is being used

✅

✅

transactionAmountValue

The transaction amount in the smallest unit of the corresponding currency.

✅

✅

transactionCurrency

The currency used for transaction

✅

✅

settlementAmountValue

The net settlement amount in the smallest unit of the corresponding currency

✅

✅

settlementCurrency

The currency used for settlement

✅

✅

quoteCurrencyPair

The quotation of the relative value of a currency unit against the unit of another currency in the foreign exchange market.

✅

quotePrice

The exchange rate between the amount in the transaction currency and the amount in the settlement currency.

✅

feeAmountValue

The fee amount in the smallest unit of the corresponding currency.

✅

✅

feeCurrency

The currency of fee

✅

✅

nonGuaranteeCouponValue

Merchant discount amount, which is not settled to the merchant and is in the smallest unit of the corresponding currency.

✅

✅

nonGuaranteeCouponCurrency

The currency of merchant discount amount

✅

✅

Table 2. Fields in the reports.