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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.

Assuming funds are available, the correct amount is deducted and sent through the processing network to the settlement bank ? which settles the transaction. Depending on your bank, funds may be available in your merchant account immediately. In some cases, settlement may take 24 to 72 hours.

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.

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.

(finance, chiefly banking) An instruction from a sender to a receiving bank, transmitted orally, electronically, or in writing, to pay, or to cause another bank to pay a fixed and determinable amount of money to a beneficiary.

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.

Clearing involves network operators routing messages and other information among financial institutions to facilitate payments between payers and payees. Interbank settlement is the discharge of obligations that arise in connection with faster payments either in real-time or on a deferred schedule.