The processing time for Zai's direct entry capabilities has been brought forward, meaning funds are settled sooner than previously, and the risk of processing failures may be reduced.
What's the change?
- Previously: Batch transactions were processed and marked as successful after 3 business days at 1pm (Melbourne/Sydney timezone)
- Now: Batch transactions are processed and marked as successful after 2 business days at 11:30pm (Melbourne/Sydney timezone)
This means that overall performance will be enhanced due to processing occurring at an off peak time, and funds will be in digital wallets sooner. Customers using direct debit will then be able to trigger payouts earlier and direct credit transactions will see all corresponding web-hook notifications sent sooner than previously.
Note: In the event of any exceptions, the 2 business day processing time at 11:30 PM will not be done, and may extend to 3 days, as there are a number of verification checks that will need to be done manually by our Payments team. If this occurs, we will keep customers updated via email.
When did this change happen?
The update was released on Thursday 30 September 2021 at 2pm AEST.
No action is required from your end to implement this change, and your experience will not be interrupted.
For more information on payment processing, refer to this article.