Dongfang Finance: From a certain Ant Financial: .

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Therefore, those with licenses are also called “acquirs”. If you do not have the qualifications, you just pass on the information, which is also called “acquiring the transfer”. Of course,there are also reverse operations such as refunds and cancellations when there is a payment. . The simplest settlement process illustrates: What is drawn here is the flow of information. The relationship between banks and payment platforms is an institution-institution relationship, and the concept of clearing is usually used, because in most cases, clearing services between financial institutions are performed by independent clearing agencies. The concept of settlement is usually used between the payment platform and the merchant, and the payment platform directly pays the merchant. (The difference between clearing and settlement is only available in the Chinese environment and is essentially the same thing) What is shown above is the settlement of the internal balance in the account opened by the merchant on the payment platform, so the merchant has to withdraw cash manually.



The payment platform usually also supports australia email list direct settlement to the card, so the merchant does not have to withdraw cash manually. The three words “clearing and settlement” have another meaning: “clearance + settlement”. The first is to clearly calculate the money, and the second is to make the right payment. Some companies also call it clearing and repayment. The first calculates how to divide the money, and the second completes the rounding of the creditor’s rights. The essence is also one. . The simplest book-to-book procurement process is illustrated: The so-called book-to-book invoice means that the currency of the merchant’s product price, the currency of the order to the payment system, the currency of the user’s payment, and the currency of the merchant’s settlement are in the same currency. No foreign exchange transactions are involved. A Chinese man bought two kilograms of Shandong cherries through Duoduo in China with a China Merchants Bank credit card, which is a standard book-to-book receipt.



. The simplest cross-border acquisition process is illustrated: The so-called cross-border receipt means that the currency billed to the merchant is different from the currency paid by the user and needs to be exchanged through a foreign exchange agency. After the EUR is successfully rejected, the payment platform will call an external foreign exchange institution to lock the exchange. After bank clearing, the payment platform calls an external foreign exchange agency to perform the actual exchange. Finally, the payment platform settles the payment to the merchant in USD. This is just a small cross-border scenario. Real cross-border scenarios are extremely rich and complex. If you don't believe me, ask your friends who did business in Russia during this period and received rubles. If replaced by a time diagram, it is as follows: illustrate: The reason why there is a lock-in exchange above is that the foreign exchange rate is constantly changing, and the payment platform does not want to bear the risk of losing the exchange rate, so it directly adds a fee to handle the payment.