Overview of the Payment Authorization, Clearing & Settlement Process
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Overview of the Payment Authorization, Clearing & Settlement Process
The Payment Card consists of three key phases : Authorization, Clearing and the Settlement. Payment Authorization refers to the process of securely communicating authorization requests, responses and cancellations messages essential to verify the vital cardholder details at the time of purchase. Clearing is the process of exchanging financial ...
7.9K viewsJul 27, 2020
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