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ComPay transaction times

1-Stop would like to clarify the timing of the funds transfer associated with Credit Card payments made via ComPay. In our previous advice to customers dated 23rd September, 2014 we indicated that funds will be transferred to payees on a T+1 basis. This advice only related to Direct Debit payments whilst Credit Card payments will move to T+2. Whilst at this stage we are unable to achieve the T+1 for Credit Card payments, you will of course note this will still be an improvement of at least 2, sometimes 3 days better than the previous offering.

 

We do hope this clarifies the situation surrounding Credit Card payments and the associated T+2 will be effective from Monday 20th October, 2014.

 

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Created: Thursday, 16 October, 2014 11:22 AM
Last Modified: Thursday, 16 October, 2014 11:22 AM

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