I will introduce myself first, I have been working in the payment industry for almost 3 years. During the period, the company has developed from about 10 people to more than 60 people, ran across the streets of Xiamen, went to various companies, and the banks have cooperated. I don't know much about this industry, but some things in the industry still know something. Today, I will give you a brief explanation of the process of settlement of POS credit card funds. In order to make it easier for everyone to understand, I will introduce them here.
The cardholder swipes the card and the pos machine uploads the transaction request. Regardless of whether it is directly connected or interlinked, the transaction order returns information from the POS to the payment company (pos machine company) to the transfer center (UnionPay) and then to the issuing bank (the bank that swipes the card) to return the transaction successfully. After the transaction is successful, the transaction is processed and the information flow of the transaction is completed. After the transaction is over, the cardholder signs the purchase order, the merchant saves the purchase order, and the transaction is completed.
However, the merchant (the owner of the POS machine) did not receive the payment at this time. The customer's payment has been deducted in real time, but it is stored in the relevant account of the bank. Because the merchant is T+1 settlement, it only informs the transaction that the transaction is successful. However, the real capital flow needs to be processed. It will be processed at 23:00 pm, and the money will be paid to the company's reserve fund account. This account is a bank account supervised by the People's Bank of China. This account is open, so the money is very strict. The second working day is normal. After deducting the handling fee after 9:00, the merchant will be paid to complete the settlement, and then the flow of funds will be completed.
Credit card information and capital flow chart
Let me introduce you here today, let everyone know more about our industry. If you have any comments or questions, feel free to leave a message and I will reply as soon as I see it. Finally, the mutual powder will return!
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