Understanding Settlement & Reconciliation

Created by CHIP Merchant Service, Modified on Tue, 18 Jul 2023 at 11:17 PM by CHIP Merchant Service

We aim to assist you in optimising your financial transactions across all the payment methods you have enabled with us. They also save as a great reporting tool to optimize your business.

There are 2 different reports you can refer to:

  1. Account Statement

  2. Settlement Report

    • Detailed report sent by CHIP via email after each settlement to your bank account
    • Only transactions that have been settled will be documented in this file, categorised by date
    • How to reconcile

Settlement period varies for each payment method. Business days do not include Federal public holidays and weekends.

Our settlement speed can be found at https://www.chip-in.asia/collect

Please note that Paid transactions will be settled according to settlement speed. Paid date does not equal to settlement date.

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