Clearing System Overview
Visa clears transactions every day, seven days a week. In this webcast, we’ll be covering the definition of “clearing” and some related terminology, and we’ll talk about how a transaction gets cleared. The bulk of the presentation consists of a comprehensive overview of the main functions performed by Visa via BASE II, and by the Visa client using the Edit Package. This course is included in the Maximizing the Value of VisaNet bundled course.
1 course, 40 minutes, 6 month unlimited access after purchase.
- What is Clearing?: Here we go over the collection of data used in the clearing process and discuss key terms related to interchange.
- Clearing Processing Steps: This segment discusses the process flow during clearing from the acquirer to the edit package to Visa for processing by BASE II.
- BASE II Functions: Learn about how BASE II processes interchange files and clears transactions, then delivers a file to every client bank.
- Edit Package Functions: In this section the instructor goes into detail about the Edit Package, optimizing the clearing process, outgoing and incoming runs, and duplicate and returned items—finishing up with some valuable best practices for using Edit Package reports.
Who Should View
- Card center managers and staff with at least two years of experience
- Individuals responsible for authorization services
- Team members from operations, risk management, or customer service