POS machine T+0 and T+1 concept
T means working days, weekends and holidays are not working days.
The meaning of +0 means that the fund clearing time is the current day, even in real time, and +1 means that the fund clearing time is the second trading day.
That is to say, the POS machine of T+0 is the card transaction conducted on the same day, and the designated account can be reached on the same day. The T+1 POS machine will perform the credit card transaction on the same day, and it will not reach the designated account until the next business day.
What is the difference between POS machine T+0 and T+1?
When it comes to the difference, let's start with security. Everyone knows that the POS machine is a collection tool in the financial industry. If the security is not well controlled, the amount of your credit card may reach someone else's pocket. So, how do we control this risk?
1. When a credit card is consumed on a POS machine, there will be a 24-hour period of consumer protection. If the credit card is stolen, with this protection, you can easily protect your rights. If you find that you have stolen the brush, you can have enough time to coordinate the problem with the bank.
2. At present, only banks can issue T+0 machines because banks have money. If you make a transaction, the bank can give you money first. The next day, your money will go to the bank account, if your The machine is not handled by the bank, so you have to be careful. For example, I have a POS machine. When you want to apply for a POS machine, I will directly use my machine for you. How much do you pay for how much money I will transfer to you, that is, when you brush The card, I can not transfer it to you, this is the so-called risk.
3. Isn't the bank's POS machine the most practical? When the bank gives the merchants funds, they have to bear a lot of risks. In order to reduce the risk, the bank will greatly limit the amount of credit card, and greatly reduce it. The practicality of the POS machine.
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