The Multi Settlement feature for Static and Dynamic QRIS transactions, fund disbursement can be done up to four times a day. For more information, read the information below.
What is Multi Settlement?
Settlement credit funds to the merchant account for payments made through BCA EDC machines. The Multi-Settlement service allows for multiple disbursements of funds from QRIS transactions throughout the day. This feature applies to all individual QRIS merchants who meet the Micro Individual Business (UMI) criteria.
Through QRIS Multi-Settlement, batch settlement and fund disbursement for merchants can occur up to 4 times a day, specifically for both dynamic and static QRIS transactions. Thus, merchants are no longer required to wait until the following day to access transaction funds.
Some of the benefits of this multi-settlement include:
- Faster receipt of funds from QRIS transactions, up to a day.
- Better cash flow management for merchants due to faster incoming funds.
How to Settle at EDC/APOS BCA
To settle using the BCA EDC/APOS machine, follow these steps for QRIS Multi-Settlement:
- Conduct QRIS transactions as usual using the BCA EDC/APOS.
- Perform settlement on the machine once so that the transaction is included in the next batch settlement process.
- The system will automatically perform batch settlement at scheduled times.
- After settlement, funds will be forwarded to the merchant account according to the settlement schedule.
There are two categories for batch or multi-settlement schedules: dynamic QRIS and static QRIS, with specific times for each.
- Static QRIS:
- 08.10 WIB for transactions between 04.00-07.59 WIB
- 14.10 WIB for transactions between 08.00-13.59 WIB
- 19.10 WIB for transactions between 14.00-18.59 WIB
- 04.10 (D+1) WIB for transactions between 19.00-03.59 WIB
- Dynamic QRIS:
- 08.10 WIB if settled on the machine before 08.00 WIB
- 14.10 WIB if settled on the machine before 14.00 WIB
- 19.10 WIB if settled on the machine before 19.00 WIB
- 04.10 (D+1) WIB if settled on the machine before 04.00 WIB
The funds will be deposited into the merchant’s account within 1-2 hours after settlement.
The QRIS Multi-Settlement feature on BCA EDC/APOS machines serves as an innovative tool enabling merchants to efficiently manage transaction funds. With the capability for batch settlement up to four times in a day, merchants can enjoy faster cash flow and better liquidity. Make sure that you take advantage of this feature to optimize business processes.