Interchange Processing

The Interchange and Clearing is a critical and complicated activity in the card business. The banking and financial institutions’ interface to both domestic and international card clearing organizations is an important functions in the day to day card processing. The financial business must be able to rely on a maintainable, yet expandable, clearing and settlement package. Bankworks Interchange Processing Module provides a flexible facility to meet these necessities.
The Interchange Processing module also enables your financial institution to clear and settle card transactions while providing an electronic file based interface to other card or account systems.

The entire module is highly parameterised. This allows customized configuration to fit the needs of the user organization.

The Interchange Processing module supports the following
transaction types:

First presentments
Re‑presentments
Charge‑backs
Retrieval requests
Fee collections
Miscellaneous charges
Fraud reporting (SAFE)

The Interchange Processing Module is fully EMV complient and supports the following key factors:
- Card verification and Authorization
- Merchants and BIN authorization
- Fraud monitoring
- Routing and Switching
- Network monitoring
- Early Warning
- STIP (Stand-in processing)
- Net Clearing and Settlement
- MIS (Management Information System)
- Etc.