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Merchants with same day txn posting

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Old 30-06-2019, 03:01 PM   #1
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Merchants with same day txn posting

Any idea which ones for those who need posted txn by calendar or statement month ?

These are some merchants which have given me same day on most occasions.

1.) grab
2.) 7-11

Anymore to share ?
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Old 30-06-2019, 03:21 PM   #2
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AFAIK, it will be dependent on the card type and timing of transaction and merchant.

Example, generally if I use my AMEX card for Grab transactions during daytime, it should post to my AMEX card at end of the day (after the night batch run).

For Visa / Mastercard, it is dependent on the merchant bank. Example, if the merchant bank is the same card as you are using and the merchant has performed the "settlement" function on the machine, you are likely to see it by the end of the day. It is because where the merchant bank and credit issuing bank is the same bank, it is considered as "On-Us Card" transaction and will not be sent to Visa / Mastercard for processing and settlement and instead, these are settled internally within the Bank. That is the reason why overseas transactions are hardly posted on the same day.
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Old 30-06-2019, 03:26 PM   #3
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AFAIK, it will be dependent on the card type and timing of transaction and merchant.

Example, generally if I use my AMEX card for Grab transactions during daytime, it should post to my AMEX card at end of the day (after the night batch run).

For Visa / Mastercard, it is dependent on the merchant bank. Example, if the merchant bank is the same card as you are using and the merchant has performed the "settlement" function on the machine, you are likely to see it by the end of the day. It is because where the merchant bank and credit issuing bank is the same bank, it is considered as "On-Us Card" transaction and will not be sent to Visa / Mastercard for processing and settlement and instead, these are settled internally within the Bank. That is the reason why overseas transactions are hardly posted on the same day.
Very nicely written. Shall we then discuss how do we detect which bank the merchant is using ?
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