What is a Batch Settlement?
Each time an order is placed, it is approved and added to a “batch”, but the funds have not actually been charged against the credit cards nor transferred to the Merchant’s bank account. That will happen when the funds for the orders in a batch are sent and then to “settle” the batch. Capturing the funds causes the credit cards to get charged and the funds to be transferred to the Merchant’s bank account.
Electronic Merchant Systems Payment Processing Glossary :
Defining key payment processing and merchant services industry terms to help business owners make better decisions.