The Funds Capture Flow is comprised of the following phases:
Source product creates a transaction, which is used to store payment-related attributes.
Source product requests authorization from Oracle Payments for the transaction.
Source product passes the transaction and authorization information to Oracle Receivables.
Oracle Receivables initiates settlement process.
Oracle Payments settles the transaction.
The diagram below shows the steps performed in the Funds Capture Flow.
Funds Capture Flow Overview
The information below describes the steps performed in the Funds Capture Flow.
Source products interact with Oracle Payments when they create transactions that require automatic funds capture for settlement. When source products create transactions, they capture required payment attributes so Oracle Payments can perform the funds capture process.
Note: Creating a transaction is not the same as requesting an authorization or settlement. Instead, it is a preliminary step meant only for capturing payment information.
Source products request real-time authorization for the transaction from Oracle Payments. This step is required for credit cards and debit cards, and optional for bank account transfers. In the case of bank account transfers, this step is also called Electronic Funds Transfer Online Validation. When the source product requests an authorization, the transaction passes through Oracle Payments' instrument validation and/or authorization process. Payment attributes captured by the source products when they created the transactions are used in the authorization step.
This phase does not directly involve Oracle Payments. It involves the source product and Oracle Receivables. Source products pass the transaction and authorization to Oracle Receivables for future settlement. When Oracle Receivables accepts transactions from source products, it inherits payment attributes and authorization information. When Oracle Receivables creates its own manual transactions, it integrates with Oracle Payments to capture required payment attributes and obtain authorizations.
The final phase in the Funds Capture Flow is the settlement process, which is initiated from Oracle Receivables. During the settlement process, captured funds are processed and deposited into the first party payee's bank account. The first party payee represents one or more organizations within the deploying company that receive funds as payment from third party payers (customers, paying students, and so on) via credit card payments, debit card payments, bank account transfers, or bills receivable transactions sent to banks.