Settlement of International transactions in Baroda e-Gateay get credit to merchants accounts on:

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Real Time
B	T+1 Working Day
C	T+2 Working Day
D	T+3 Working Day

Explanation:

Detailed explanation-1: -Some payment gateways have the default settlement cycle of T+2 or T+3 working or business days, where T stands for the date of payment capture from the customer’s bank or card.

Detailed explanation-2: -What is Merchant Payment Gateway? A merchant payment gateway authorizes payments for retailers in every business categorization. These payment processing platforms ensure that the sensitive transactional information you enter on any E-commerce website is passed safely from the customers to the retailer.

Detailed explanation-3: -Settlement in “real time” means payment transaction is not subjected to any waiting period. “Gross settlement” means the transaction is settled on one to one basis without bunching or netting with any other transaction. Once processed, payments are final and irrevocable.

There is 1 question to complete.