"What is a Transaction Settlement?" — 2Checkout E-Commerce Glossary

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What is a Transaction Settlement?
When a merchant receives funds for a transaction with a customer.

How Do Transaction Settlements Work?
Once a buyer purchases goods or services, his or her card-issuing bank sends funds to the seller's payment processor, which disperses said funds to the merchant. The term "settlement" is also used to refer to the specific amount of funds transferred by an acquirer to a merchant for the acceptance of a card transaction.