Last Settlement

Overview

Last Settlement: After a transaction is completed, the final step involves ensuring that the funds are transferred to the merchant's account. The last settlement process ensures that all pending transactions are captured and moved from the customer's bank to the merchant's bank.

The last settlement operation is crucial for finalizing all pending transactions and ensuring the merchant receives the complete payment. This process is typically performed at the end of the business day to update the merchant’s account.

Processing Last Settlement with POS and Microservices

This section outlines the steps involved in processing the last settlement using an integrated approach with a Point of Sale (POS) system and microservices:

Step 1: POS Initiates the Last Settlement Request Using API

1. End of Day Interaction: The process begins when the POS terminal initiates a last settlement request, typically at the end of the business day.
2. API Request: The POS system sends a POST request via an API to the payment processing service to start the last settlement process.

Step 2: Microservice Validates and Prepares the Request

1. Request Validation: The microservice receives the last settlement intent from the POS system.
2. Validation Process: It conducts a thorough validation of the received parameters to ensure accuracy and validity.

Step 3: Microservice Creates a Last Settlement Request to Terminal

1. Validated Request: Once the last settlement intent is validated, the microservice prepares a last settlement request to be sent to the connected payment terminal.
2. Request Details: This request includes comprehensive details about the transactions to be settled, ensuring a smooth settlement process.

Step 4: Terminal Processes the Last Settlement

1. Settlement Completion: The payment terminal processes the last settlement request, capturing the held funds and transferring them to the merchant's account.
2. Order Details: After the last settlement operation is completed, relevant order details are presented, confirming the successful settlement.

This process ensures that all funds are correctly transferred and the transactions are finalized, providing both the customer and the merchant with a smooth and secure payment experience.