4 ms·

what's a settlement? the vendor receiving the payment?

• kyrra 10y ago
  Yes. 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 ago
    I 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