Card balance settlement refers to the process of reconciling and transferring funds between various parties involved in a card transaction. This mechanism moves money from the cardholder’s account to the merchant’s account, involving authorization, clearing, and the final settlement of funds. For cryptocurrency-linked cards, this process converts digital assets into fiat currency at the point of sale, followed by the traditional settlement cycle. It ensures that all financial obligations are met after a purchase.
Context
News related to card balance settlement often covers advancements in payment technology aimed at reducing settlement times and costs. The integration of digital assets with traditional card networks highlights efforts to streamline this process, enabling faster access to funds for merchants. Discussions also address the regulatory implications of converting cryptocurrencies for card payments and ensuring the stability of fiat conversions during settlement cycles.
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