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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.

Payment gateway settlement time: This means that the captured payments are settled within two working days from the date of capture. (Working days do not include second and fourth Saturdays, Sundays, and bank holidays.)

A settlement in payment gateway refers to the process by which the payment made by a customer for a product/service, is credited to the merchant account. What are the different types of settlements offered by Cashfree? The standard settlement cycle in Cashfree is T+2 days, where T is the date of the transaction.

Payment is a dollar amount paid on any debt or allowance. A settlement is a payment or payments that will conclude the financial obligation in full, thus finishing the agreed term and amount in total.

Payment settlement involves collecting the funds for the amount recorded for an order. For example, when using credit cards, the settlement process specifically involves contacting the payment system and collecting the required amount of funds against the credit card.

Settlement is when the funds from customer transactions are actually transferred from the cardholder's issuing bank to the business's acquiring bank. Think of it like this: Payment authorization is when the issuer says, ?Yes, those funds are available and approved to be used for this purchase.?

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.