Reconciliation Definition.

End-to-end matching of orders, transactions as seen by the PSP, payouts received at the bank, and accounting entries. It relies on the PSP’s settlement reports, camt.053 statements, and shared references (RRN, ARN, end-to-end ID). It is what catches missing transactions, fee discrepancies, and duplicate payouts, a time-consuming job that orchestration and ISO 20022 data greatly reduce.

See also

→ Cash application→ Settlement→ camt.053

Where this term appears

GuideThe role of banksGuideMerchant, acquirer, PSPGuidePayments in GermanyGuidePayments in the Netherlands and BelgiumGuideProtecting customer funds, and what happens when the institution failsGuidePayments in Germany, Austria, and SwitzerlandGuideWhat a payment service provider must reportGuideManaging SCA exemptions: fraud rates, audits, and losing the exemptionGuidePayments in FranceGuidePayments in Hungary, Czechia, and SlovakiaGuidePayments in ItalyGuidePayments in Norway and Denmark

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