Professional Documents
Culture Documents
VisaNET
Why
Compliance?
Spectrum
Spectrum
VisaNet
VisaNet
supports Purchase, cash, and bill payment transactions Recurring payment transactions, as well as prepaid card transactions ATM transactions, Purchase and cash transactions made with other private-label and proprietary cards.
Authorization
Clearing
Settlement
Transactions can be authorized, cleared, and settled either as dual-message or single-message transactions A dual-message transaction is sent twice, the first time with only the information needed for an authorization decision, and again later with additional information required for clearing and settlement. Typically, authorization is performed online while clearing and settlement occur later offline. A single-message transaction is sent once for authorization and contains clearing and settlement information as well as authorization information. These transactions are also called full financial transactions. Typically, authorization and clearing occur online, while settlement occurs later offline.
The main components of VisaNet are: VisaNet Interchange Centers (VICs). VisaNet Access Points (VAPs) and other network connections. Processing centers.
VAP VIC
VAP
VIC
VIC
Processing center
The VICs house the following VisaNet systems that provide both online and offline transaction processing:
The VisaNet Integrated Payment (V.I.P.) System, which includes the
Authorization
AA BASE I
Clearing
BASE II
Settlement
Once in 6 months Visa will enhance their transaction processing facility to support new products and to provide a better transaction processing facility to all the member banks. All the member banks of Visa must comply with changes which Visa announces. Release date Will be in the month of April and October
Spectrum is a issuing processing system Spectrum clients are members of Visa so they have to comply with Visa regulations. HP commercial cards services representative (BA) will be attending the Webinar hosted by Visa to understand the business enhancements made by Visa. BA will create requirement document and schedules a BD review meeting Spectrum cards processing system uses Guidance product for authorizations hence the changes related to BASE I will be taken care by Guidance team Spectrum IAs need to research the impacts of BASE II changes and enhance Spectrum system accordingly.
To Be Continued