Fundamentals of Transaction Processing (Europe Only)
This 12-module series covers the lifecycle of a Visa transaction, from the authorization stage, to clearing and settlement. You will learn how Visa can help you prevent fraud and help you process transactions seamlessly and efficiently.
Learn how, every day, Visa’s European systems are:
- Routing and approving millions of authorization requests via the Visa Europe Authorization Service.
- Clearing and settling funds between banks all over the world via the VECSS system (Visa Europe Clearing and Settlement Service).
- Standing in and making authorization decisions on behalf of our issuers when things go wrong.
12-module series, 2 hours total, 6-month unlimited access after registration
Price does not include VAT.
The 12 modules include:
- Introduction to Visa Authorizations : why should transactions be authorized and who is involved in the process?
- Authorization message types: what is the difference between an authorization request, an authorization response and an advice?
- Field and message structure: what data is included in an authorization message?
- Introduction to PCAS (Positive Cardholder Authorization Service): how does Visa Authorization enables transactions to always be authorized even if the issuer is unavailable or wishes to limit the authorization traffic?
- Introduction to Clearing with Visa: how does VECSS enable the transmission of data once transactions have been authorized?
- VECSS transaction types and codes: what is the difference between a Transaction Code and a Transaction Component Record?
- Introduction to currency conversion: how does Visa process international transactions where currency conversion is required?
- Introduction to Interchange Reimbursement Fee (IRF): how does VECSS process the interchange reimbursement fees between issuers and acquirers?
- Chargeback overview: what happens if a transaction is disputed by a cardholder and it needs to be charged back?
- Introduction to settlement: how does VECSS enable the transfer of funds and the reporting?
- Settlement services: what is the different between the international settlement service and the domestic settlement service?
- Settlement calculation game: in this game you will have a chance to apply what you learned on clearing and settlement, where you will act as a VECSS operator.
Who should view?
- Clients new to the payment industry
- Issuers and Acquirers who need a basic understanding of how Visa authorizes, clears and settles transactions
- Staff who cannot make the time to attend a face-to-face course and/or need to dip in and out of the course content at any time.
Those who wish to gain more than a high-level overview should attend the 2-day classroom workshop, also named Fundamentals of Transaction Processing.
Please note the price does not include VAT