Settlements
What a Settlement is and how to process one from PAYware Connect and a variety of Verifone terminals.
What is a Settlement?
A Settlement is the final stage of a transaction, where funds actually move from the buyer's bank to the seller's account, completing the purchase after authorization. It involves clearing and transferring money between financial institutions.
This happens in a Batch — a group of multiple transactions collected over a defined period (such as 24 hours or a month) and submitted together for final authorization and settlement.
Settlements can be completed on a terminal, or in PAYware Connect's Store Portal (for Merchants) or Corporate Portal (for Resellers).
Related topics
Checking the Pre Settlement Report — see unsettled transactions before you settle a batch.
Performing a Settlement — settle a batch automatically or manually.
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