settlement is the process of payment to the store
in order to comply with different business models, we provide:
Settlement via CIP* (Interbank Payments Chamber)
TED Remittance
how does CIP settlement work?
The brand submits accounting data to CIP, debiting the issuing bank in credit to the acquirer.
Afterwards, the acquirer also communicates with CIP, informing the credit is transferred to the merchant.
Having those two pieces of information, CIP submits a settlement file, validating the operation so the bank will release the money to the merchant.
what about TED remittance?
It is quite simple! It is the settlement of our partners’ stores in a grid that was established by the merchant domicile branch gathering all amounts in the agenda (credit and debit) to make it effective all at once.