Batch & Settlement
Closing out the day's approved transactions so the money actually moves.
Batching submits the day's captured transactions for settlement, after which the acquirer funds the merchant, typically on a one-to-two-business-day cycle. Anything left unbatched is approved but unfunded, which is the usual cause of a day's sales appearing to be missing from the bank. Tip adjustments must be made before the batch closes, or the original amount is what settles.
Related terms
See it in Opero
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