What is typically confirmed by merchants at the end of the day regarding card payments?

Merchants typically confirm "all day's card payments through a closing authorization" at the end of the day. This process is known as closing the batch and involves finalizing all transactions that were processed during the business day.

At this stage, the merchant verifies that all transactions have been accurately recorded and authorized. This helps ensure that the funds for the card payments are successfully transferred from the cardholder’s bank to the merchant’s account. The closing authorization effectively reconciles all sales, ensuring that any discrepancies can be addressed, and it prepares the information to be sent to the payment processor and card networks for settlement.

This is a standard practice in the payment processing cycle, as it helps maintain financial accuracy and is essential for effective cash flow management for the business.