Settlement
SWIFT
Also: SWIFT gpi
Global bank messaging network used to instruct cross-border wire transfers; slower and more expensive than schemes, but the default for large B2B settlements.
Related terms
Cross-border transaction
A card transaction where the issuer country differs from the acquirer country, attracting higher interchange and scheme fees.
Settlement
The transfer of funds from the acquirer to the merchant's bank account, net of fees and reserves.
Payout
The transfer of settled funds from acquirer to merchant bank account, cadence governed by the funding cycle and any reserve holdbacks.
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