Alipay, China's leading third-party online payment solutionAlipay, China's leading third-party online payment solution

Settlement lifecycle

Settlements can be conducted on a daily, weekly, or monthly basis, with a settlement lifecycle that covers the journey from successful payment to completion of settlement for the entire batch of transactions. During the settlement lifecycle, pay attention to the following details:

  • The settlement-related actions of Antom/acquirers at specific time points.
  • The time at which you can view and download financial reports.

Daily settlement

For daily settlement, the settlement lifecycle differs based on different currency conversion modes and payment methods:

  • Locked-in currency conversion mode
  • Non-locked-in currency conversion mode (Alipay+)
  • Non-locked-in currency conversion mode (Non-Alipay+)
  • No currency conversion

Note: Payment methods are divided into Alipay+ and non-Alipay+ based on whether having a partnership with Alipay+.

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Figure 1. Different settlement lifecycles under daily settlement

The difference in settlement lifecycle under different currency conversion modes lies in which day's exchange rate is used for the settlement of a transaction. When the currency conversion mode is non-locked-in, the settlement lifecycle difference between Alipay+ and non-Alipay+ payment methods is as follows:

  • Locked-in currency conversion mode: For all payment methods, the settlement exchange rate is the exchange rate on the transaction day.
  • Non-locked-in currency conversion mode:
    • Alipay+ payment methods: The settlement amount is estimated and deposited into your balance on the same day of the transaction. The actual settlement amount is calculated based on the exchange rate on the next day after the transaction, and any overpayment or underpayment and fee deduction is handled accordingly on the next day.
    • Non-Alipay+ payment methods: The settlement rate is the exchange rate on the next day after the transaction.
  • No currency conversion mode: The settlement currency is the same as the transaction currency. No exchange rate conversion is needed.

Weekly settlement

For weekly settlement, the settlement lifecycle differs based on different currency conversion modes:

  • Non-locked-in currency conversion mode
  • No currency conversion

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Figure 2. Different settlement lifecycles under weekly settlement

The difference in the settlement lifecycles lies in whether currency exchange is involved during the settlement. For weekly settlement, only non-locked-in currency conversion mode and no currency conversion mode are supported. The locked-in currency conversion mode is not available.

Monthly settlement

For monthly settlement, the settlement lifecycle differs based on different currency conversion modes:

  • Non-locked-in currency conversion mode
  • No currency conversion

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Figure 3. Different settlement lifecycles under monthly settlement

The difference in the settlement lifecycles lies in whether currency exchange is involved during the settlement. For monthly settlement, only non-locked-in currency conversion mode and no currency conversion mode are supported. The locked-in currency conversion mode is not available.