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Transaction settlement is the process of moving funds from the cardholder's account to the merchant's account following a credit or debit card purchase. The issuer will route funds to the acquirer via the card network.

Further, Settlement is the procedure through which the shares are transferred from the seller's account to the buyer's account, and the funds are transferred from the buyer to the seller. These two processes are carried out on T+1 Day. This is the core clearing and settlement process in a stock exchange.

Settlement can be defined as the process of transferring of funds through a central agency, from payer to payee, through participation of their respective banks or custodians of funds.

Payment and settlement system means the financial infrastructure that carries out payment and settlement between banks and other institutions. Since banks are the medium through which payments are made, the payment and settlement system manage the interbank transactions and settles them.

SETTLEMENT PROCESS OVERVIEW In the financial industry, settlement is generally the term applied to the exchange of payment to the seller and the transfer of securities to the buyer of a trade. It's the final step in the lifecycle of a securities transaction.

Payment and settlement system means the financial infrastructure that carries out payment and settlement between banks and other institutions. Since banks are the medium through which payments are made, the payment and settlement system manage the interbank transactions and settles them.

During the settlement period, the buyer must pay for the shares, and the seller must deliver the shares. On the last day of the settlement period, the buyer becomes the holder of record of the security.