T+1 settlement
Funds for a day’s takings are settled in the batch on the following day, rather than weekly or monthly. "T" is the transaction day. Longer cycles are common and are a working-capital cost rather than a fee.
For Uniweb Pay specifically: Uniweb Pay settles in SGD in T+1 batches, with in-store, online and in-app takings in the same batch.
Why it matters to a merchant
The shorthand is about the batch, not about a promise for every transaction. What a merchant should confirm is the cut-off — a sale after the cut-off belongs to the next day's batch, so a late Friday evening in a restaurant and a Monday morning in an office can behave very differently on the same nominal terms. Weekends and public holidays are where the difference shows up.
Where this comes up
Pages on this site that deal with this in context:
Related terms
In this section: How a payment moves