Hello, I’m exploring the implementation of a cost processing system that operates barely in a different way based mostly on the affiliation of each the service provider and the client with a selected EMI/financial institution (let's name it Financial institution X). Listed here are the 2 eventualities I’m contemplating.
Case 1:
Each the service provider and the client are purchasers of Financial institution X On this state of affairs, when a buyer makes a cost utilizing their card on the service provider's POS (Level of Sale), the cost gateway recognises that each events are purchasers of Financial institution X. The system then proceeds to course of and settle the cost internally, bypassing conventional card networks like Visa/Mastercard, probably saving on transaction charges.
Case 2:
Both the service provider or the client will not be a shopper of Financial institution X Opposite to the primary case, right here, if one of many events will not be a shopper of Financial institution X, the cost gateway opts to course of the cost totally by way of normal card networks like Visa/Mastercard to facilitate the transaction.
Assumptions:
In each instances the POS efficiently confirms the operation There isn’t any distinction in cost execution from the service provider or buyer perspective to different card transactions The answer ought to work with any POS that helps Visa/Mastercard Within the fist state of affairs the cardboard scheme is used only for authorisation, whereas clearing and settlement is dealt with internally, probably saving 75% of transactional prices
My important concern sits on the settlement facet, because it occurs internally on Financial institution X techniques, would the cardboard scheme nonetheless approve it in order that it appropriately seems as processed on the POS endpoint?Lastly, would the cardboard scheme not cost clearing/settlement prices? Thanks!
a schema
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