4 ms·
When will it be 2 day settlement in the EU like it is in the US. I don't get how competitors can do it and yet stripe still holds off.
by neximo64 10y ago
When will it be 2 day settlement in the EU like it is in the US. I don't get how competitors can do it and yet stripe still holds off.
- 1_listerine_pls 10y agowhat's a settlement? the vendor receiving the payment?
- kyrra 10y agoYes. In credit card world it goes auth, capture, settlement. Auth happens within those few seconds when you slide your card. Capture tends to happen at the end of the business day when the "final" total is known and charged against your card. Settlement is when everything has cleared and merchants get their money.
- 1_listerine_pls 10y agoI am very interested in how the whole system works together. Any chance you happen know of any books or guides on the subject?
- aaronmacy 10y ago"Payment Systems in the US" by Carol Coye Benson and Scott Loftesness
- Aeolun 10y agoCan't you request them to do that anyway? That said, I still don't understand why this is so relevant to a business?
- halomru 10y agoGetting your money later means that your you are effectively giving out a free loan to whoever is holding your money. For you that's an opportunity cost because you can't reinvest the money for some period of time. If your expenses have to be paid before you get your money this can also be a cash flow issue (or make a cash flow issue worse), when a peak in demand leaves you very profitable but unable to pay your bills because you're waiting for your money to arrive.