Same-day settlement refers to the process of completing financial transactions and settling funds on the same day they are initiated. This term is commonly used in the banking and payment industry, where it is crucial to expedite the transfer of funds between parties. Same-day settlement offers numerous benefits, including improved cash flow, reduced risk, and increased efficiency. It allows businesses and individuals to access their funds quickly, enabling them to meet their financial obligations promptly. This feature is particularly valuable in time-sensitive situations, such as urgent payments or time-critical transactions. Overall, same-day settlement plays a vital role in facilitating seamless and timely financial transactions.