VeriFone VX 520 User Manual page 69

You'll know that a transaction has gone through successfully if the POS device prints out a
merchant copy. The transaction will reflect in the current batch.
If a customer has a double debit on his or her account but only a single transaction shows in
your batch or in your account, the cardholder has to dispute the transaction with his or her
bank. Please make sure the customer keeps all copies of the transaction to show the bank.
5. WHAT DO I DO WHEN A POS DEVICE IS LOST OR STOLEN?
Immediately report the lost or stolen POS device to Standard Bank. If you report that
a POS device has been lost or stolen, all communication with the POS device will be
suspended within 2 to 24 hours. It'll take up to 48 hours to reverse this process (to
restore communication with the POS device). It's important to report a lost or stolen
POS device to the police immediately. They'll issue an incident number for lost POS
devices and a case number for stolen devices.
Complete a Standard Bank Merchant Solutions Incident form so that we can cancel
the user ID of the stolen POS device. You need to insure your POS device for the full
replacement value as documented in your Merchant Agreement with Standard Bank. If
your POS device is insured, we'll start a new deployment process. If your POS device is
uninsured, you must pay the replacement cost before the new deployment process will
be started.
6. WHAT IS SETTLEMENT?
Settlement is the payment of the value of the transactions processed and is effected into
your account the next day if you bank with Standard Bank or within 2–3 business days if you
bank with another financial institution. Batch your POS device before midnight to ensure
financial settlement into your bank account.
Standard Bank has the right to withhold or delay settlement or any credit due to you where
the credit is greater than their internal and confidential risk detection parameters.
69