Assemble payment settlement easily
How to Assemble payment settlement and save your time
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How to assemble payment settlement
This text explains how electronic payments work in e-commerce, outlining the three stages of authorization, clearing, and settlement. Authorization involves the cardholder making a transaction and authenticating themselves with two-factor authentication. EMV 3D Secure adds additional verification criteria. A digital message is transmitted and checked at each stage from the merchant to the acquirer, card scheme, and issuing bank. Once funds are available, a message is sent back to the merchant approving the payment. Clearing is the period from when the acquirer sends a message to the card scheme. Settlement completes the process.
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