Step 2: Define transaction types and classifications

ABC Furniture accepts credit card purchases paid in two to six installments. AcmePay wants that activity to receive settlement, fee, and installment treatment that differs from other transaction classifications.

Objective: Determine which transaction types exist and identify which ones require unique processing behavior. Define how Seller management should classify each transaction.

Establish transaction classifications and processing codes

AcmePay assigns the following processing codes to its transaction classification using the Create processing code endpoint.

AcmePay transaction classifications

From here on, the example follows PC300, AcmePay's code for credit card sales in two to six installments, and a six-installment sale. Because PC200 covers single-payment credit card sales, PC300 starts at two installments, so each transaction classification has one processing code.

AcmePay classification layer for PC300

AcmePay records PC300's attributes in the Classification layer of the planning matrix.

Note: The example codes illustrate AcmePay's classification strategy and do not represent a required processing-code structure for every implementation.

The classification does not specify how Seller management should charge or settle a PC300 transaction. AcmePay defines that treatment in the Configuration layer.