What is the significance of the transmission receipt the acquirer receives from the merchant?

The transmission receipt that the acquirer receives from the merchant is significant because it serves as confirmation of the transaction details submitted. This includes important aspects such as the amount processed, the time of processing, and the associated merchant information. The confirmation of the deposit date is crucial as it verifies that the funds from the customer’s transaction will be deposited into the merchant's account on a specific date. This is vital for the merchant's financial planning and reconciliation purposes, ensuring that they can track their cash flow accurately and manage their business operations efficiently.

In contrast, while audit trails are important for record-keeping and regulatory compliance, the transmission receipt itself primarily serves to confirm transactions and deposit information rather than providing a full audit trail. The trigger for the merchant's payment process is generally related to the transaction authorization, rather than the receipt itself. Lastly, customer account setup is typically associated with information gathered prior to transaction processing, not something that would be confirmed through a transmission receipt.