Blog
Product
All Posts
Company
Customers
Explainers
Guides
Legal
Podcast
Product
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Settlement API for Better Visibility into Daily Cash Movement

Settlement API for Better Visibility into Daily Cash Movement

Ronald Caspers
Ronald Caspers
, 
Product Manager
August 21, 2023
 • 
#
 min read
Expand for full transcript

Today, we’re launching our Settlement API, a solution that provides you a clear view of cash movement and daily network activity, including data on interchange and network fees.

The API is designed to give you a single, clean source for understanding transaction activity on the Lithic platform. It streamlines your reconciliation process by eliminating the need to aggregate financial data across multiple APIs or perform extensive data transformations.

The Settlement API offers several benefits:

  • Simplified reconciliation of daily cash movements
  • A comprehensive view of transactions for effective card program management
  • Streamlined financial transaction analysis for Lithic customers

This feature is particularly useful for customers who act as their own card program managers and use Lithic solely as an issuer processor (Processor Only).

How the Settlement API Works

The Settlement API helps you reconcile daily cash movements from your settlement account against transactions. The key functionality of the API includes two main endpoints: Settlement Summary and Settlement Details.

Settlement Summary endpoint Provides an aggregate gross settlement by report date.
The summary includes information such as currency, settled transactions, interchange, chargebacks, and fees along with their respective details.
Settlement Details endpoint Offers detailed information on each settlement that makes up the totals in the summary endpoint

Getting Started

Visit our documentation to learn how to start using the API for your settlement reporting.

If you have any questions, schedule some time with your account manager, or reach out to us via your dedicated Slack channel.