Settlement
Clearing
The scheme process reconciling captured transactions between acquirer and issuer, producing the net position that settles between banks.
Related terms
Settlement
The transfer of funds from the acquirer to the merchant's bank account, net of fees and reserves.
Capture
The step where an authorised transaction is submitted for settlement, converting a hold into a cleared debit against the cardholder's account.
Net settlement
Payout model where the acquirer deducts fees, refunds, and chargebacks from gross transactions before funding; the merchant receives one net figure.
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