Business Operation

Settlement Process

10min

Overview





 is a bookkeeping

of a

and transfer of

funds from financial institutions (

or

) to an individual or company (Merchant). In its practice, there are 2 types of

models; Facilitator and Aggregator

Merchant can convert the fund from settlement fund into payout balance. Please visit Balance Deposits page for further information.



Settlement Type



On 

 Facilitator type,

fund will go directly to



account after the

finishes. In this scenario,

will represent

to perform bookkeeping for successful transactions and reconciliation processes with

to validate data, cutting its

fee and


fee as


gateway.



Settlement - Facilitator
Settlement - Facilitator


On

  Aggregator type,

will perform fund

through



account after the

is done. In this scenario,

will represent

in



, including cutting

fees from

and related Banks. Merchants will receive some

funds amount that has already been cut from

on their chosen

account.

Settlement - Aggregator
Settlement - Aggregator






Time





 time usually differs from one institution to another. It depends on the used

method,

, and

or

. Here is the difference in

time for each

.

Payment Method

Partner

Settlement Type

Duration





Visa, Mastercard, JCB, American Express for

 Mandiri, BCA, BNI, BRI



,



D+3 on weekdays





BCA



 (BCA),

(ALTO)

D+1 on weekdays





BRI, Mandiri, BNI, Permata, Maybank, KEB Hana, CIMB Niaga, Danamon, Permata Syariah, BJB, BNC,

 DKI



,







 only (CIMB, BNC, Bank DKI)

D+3 on weekdays





ATM Bersama, Prima, Alto



,



D+3 on weekdays





Indomaret





D+5 on weekdays





Alfa Group (Alfamart, Alfamidi, Dan+Dan, Lawson)





D+7 on weekdays





JeniusPay





D+2 on weekdays





OVO, DANA, ShopeePay, LinkAja dan AstraPay





D+3 on weekdays





Kredivo





Every Tuesday and Friday





Akulaku Paylater





D+4 on weekdays





Indodana





D+3 on weekdays





all QR type that have been integrated with



Aggregator

D+2 on weekdays





BNI, BTN







D+3 on weekdays



Same Day

(Instant

)



Same Day

 or also called SDS is a

latest innovation feature to meet your needs in getting funds from

with relatively fast time, which is D+0.





Cut-Off

Cut off is a

 of time

record from

which will be stop or pending.

Payment Method

Bank/Partner Name

Service Time

Note







22:00 - 24:00

  • 
    
    
    follow
    
    batch time between 22:00 until 24:00
  • 
    
    valid for Sale/Purchase
    
    , Refund and Capture
  • 
    
    report can be seen and downloaded through
    
    
    dashboard





OVO

23:59







BCA

  • 20:50 WIB - 02:00 WIB
  • 20:50 WIB - 04:00 WIB
  • Monday – Saturday and Sunday to Monday
  • Saturday = Sunday





BRI

22:00 WIB - 23:20 WIB

Everyday





DBS

23:00 WIB - 00:00 WIB

Everyday





Other



There is no scheduled time

Follow

 schedule



Benefit and Deficiency



Settlement Type

Benefit

Deficiency





  • On-boarding
    
    faster and focus only on one
    
    
  • Suitable for medium to big scale business
  • Provide special MID to
    
    and sub-
    
    
  • Need special account to
    
    which invited to work together





  • No need to open other
    
    accounts
  • Able to use various
    
    in one
    
    
  • Suitable for small to medium sale business
  • Combine MID to
    
    and sub-
    
    
  • 



See also





Reconcile

to find out how to check

data related to


operation.





Cancel Payment

to find out how to abort

on


.





Invoice & Receipt

to find out

related to

receipt on


operation.





Tax

to find out

related to

on


operation.



Updated 05 Apr 2024
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