Settlement

Settlement

Posted on : 15 Mar, 2023    |    Last Update - 11 bulan yang lepas   

 

1. Transaction that been make on working days

  • Every transaction that has been made on a working day will have its settlement processed by T+1. Within 24 hourse the merchant will receive payment. For instance, if clients pay a merchant on Monday, Lekirpay will make a settlement on Monday  to ensure that the merchant receives their payments within 24 hours. The prcosess of settlement will be T+1 and merchant will received their payment within 24 hours after the settlement has been made.  

 

2. Transactions that have been made on public holidays. 

  • On the following business day or the day after a holiday, all transactions that have been completed on that day will be processed for settlement. Christmas Day, for instance, falls on December 25th (Sunday) and is observed on December 26th (Monday). The processing of settlement will take place on Tuesday, December 27. 

 

3. Transactions that have been made on weekends.

  • The processing of all transactions made over the weekend will take place on Monday. For instance, if customers pay a business on Saturday, Monday will be used to settle the transaction. The identical situation holds true for transactions made on Sunday; Monday will be used to settle Sunday transactions.

 

4. Cut-off time

  • The transaction cut-off is 3:00 PM. Any transaction submitted before 3:00 PM will be executed the same day. Merchant will receive payment within 24 hours. Any transactions that take place after 3 PM result in the disbursement of merchant payment the next day. For instance, if customers pay merchants at 2.59 p.m., disbursement will occur and merchant will received their payment within 24 hours. The disbursement will happen the following day if customers pay the merchant by 3.01 p.m. 

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