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posted on 19 Apr 2024
Payment flow for card transaction involves authorization, clearing, and settlement processes.
Customer initiates payment using card details
Merchant sends payment request to acquiring bank
Acquiring bank forwards request to card network for authorization
Card network checks with issuing bank for funds availability
Issuing bank approves or declines transaction
Authorization code is sent back to acquiring bank
Merchant complete...
posted on 19 Apr 2024
Payment flow for card transaction involves authorization, clearing, and settlement processes.
Customer initiates payment using card details
Merchant sends payment request to acquiring bank
Acquiring bank forwards request to card network for authorization
Card network checks with issuing bank for funds availability
Issuing bank approves or declines transaction
Authorization code is sent back to acquiring bank
Merchant complete...
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