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Once a batch is closed, the settlement occurs when the processor receives the processed funds from each issuing bank whose credit cards were part of the batch. The total batch amount will then be transferred via bank-transfer to your bank account.

Payment settlement refers to the process of the issuing bank transferring funds from the cardholder's account, via a payment gateway, to the acquiring bank - the financial institution that accepts card payments on behalf of the merchant.

It involves a series of steps that occur after a customer makes a purchase, ensuring the funds are aptly transferred from the customer's account to the merchant's account. This process involves various intermediaries, including the payment gateway, acquiring bank, issuing bank, and card networks.

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.

The POS settlement works in the same way as a bank reconciliation in the sense that it retrieves all transactions since the previous POS settlement. This means that the sales that are registered after the completed POS settlement, are automatically registered on the next settlement.

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.

As between the two financial institutions and their respective customers, they will typically settle by debiting and crediting their respective customers' accounts they maintain. But the financial institutions involved in the transaction will also need to settle among themselves.