Another week, another update from Naspay. Our team is relentlessly working to improve, tweak and expand the capabilities of our platform. Our mission is to be proactive in satisfying your needs and give you solutions to problems that are not even problems yet.
The newest development is the deployment of the settlement calendar. Clearing and settlement of funds are often confused as terms and it’s essential to make the distinction. As defined by the European Payments Council, a settlement is “the completion of a transaction or of processing with the aim of discharging participants’ obligations through the transfer of funds.” For a more elaborate explanation, examples and definition of the clearing and settlement concepts navigate to the European Payments Council website.
Back to our calendar. Our new feature offers you the option to see the exact settlement dates for each and every payment processor as well as the detailed breakdown of all the financial info for each one.
This tool will help you streamline your operations and stay up-to-date with the most necessary information needed. The calendar is updated on a daily basis and it gives you insight on the amount of turnover, fees and net amounts resulting from the volume of transactions.