We often hear that different payment companies always say D0, T0, D1, T1 when they promote their business. So what do these represent and what is the difference?
Day d refers to the nature day, including weekends and holidays. The t day refers to the trading day, and the meaning of +0 means that the fund clearing time is the current day, not the real time. The meaning of +1 means that the normal liquidation time is the second working day (Monday to Friday 10:00-18) :00)
According to the normal liquidation understanding is this:
T of T+1 is trade, which means trading day; D of D+1 stands for Day, regardless of trading day or holiday. In the UnionPay card payment acceptance service, the T+0 settlement business nails will transfer the settlement funds of Party B to the settlement account designated by Party B on the day of the UnionPay card transaction, and collect the special settlement processing business of the relevant service fees. Simply put, T+0 means that the card is on the same day.
For merchants, the T+0 handling fee is usually 0.2% higher than T+1 (depending on the situation). In addition, UnionPay officially adopts the T+1-accounting mode, and T+0 is the third-party payment advance.
Therefore, T+1 normal fund clearing mode: after the customer swipes the card, the POS machine's acquiring institution (bank or three-party payment company) transmits the transaction information to the clearing institution (UnionPay), and the clearing institution transmits the information to the cardholder. The card issuer, the card issuer deducts the funds in the cardholder's account according to the transaction information, and transfers the funds to the clearing institution, and the funds are deposited in the clearing house for one night. By the second business day (Monday to Friday 10:00-18:00), the clearing house transfers the funds to the account designated by the acquirer, and the liquidation process is completed.
At present, it is more popular in the industry to carry out this business by means of joint investment by the payment agency. The purpose is to standardize the risks of agents developing merchants and maximize win-win.
Standard Manual Screen,Matt White Projection Screen,Ceiling Screen For Projector,Wall-Mounted Projection Screens
Dongguan Aoxing Audio Visual Equipment CO.,Ltd , https://www.aoxing-whiteboard.com