Settlement System
The diagram shows how funds are settled. The funds flow follows the same path as the card schemes (Visa and MasterCard).
- The revenue generated by the currency conversion on all foreign card business is shared.
- Daily settlement is provided in local currency. At no time does the merchant or bank have foreign currency risk or exposure.
- Monex provides comprehensive reports of all transactions on a daily basis summarised by currency and card type.
- All reports are based in the local currency so that previous reconciliation procedures remain unaffected.
- Monex provides full transparency and audit trails on all transactions.
- All reports can easily be accessed via our web based reporting system
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