Glossary
Settlement
The actual movement of funds between parties after transactions have been processed.
Settlement is when money changes hands: the processor pays the merchant, the operator pays a payout partner, the platform pays a seller. It happens on a cycle — daily, weekly, or per agreement — and usually nets many transactions into a single transfer, less fees.
Because settlement is netted and delayed, the settled amount rarely matches any single transaction. Reconciliation is what proves the netted figure is correct.