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How to brand comment settlement
This video provides a look into how electronic payments work in the world of e-commerce. There are three stages involved: authorization, clearing, and settlement. Authorization occurs after the cardholder makes a transaction and authenticates themselves. EMV 3D Secure adds additional criteria for confirmation. A digital message is transmitted and checked at each stage from the merchant to the acquirer, then the card scheme, and finally the issuing bank. Once funds are available, a message is sent back to the merchant approving the payment. Clearing involves all activities behind the scenes from when the acquirer sends a message to the card scheme. Settlement completes the process.
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