Understanding of transaction processing (Virtual course)

This virtual seminar, split into 4 sessions, provides an introductory overview of the transaction processing flow that underpins the four-party payment system. It addresses important elements of authorizations, clearing and settlement. For example, we explain how transactions are first approved (or sometimes declined) and how money flows between different stakeholders afterwards.

You will get a complete understanding of all the key processes, systems and tools which enable transactions to be processed. We will also cover the method by which Mastercard handles the interchange processing as part of the transaction lifecycle, how billing for services provided occurs and where this information can be obtained. And, of course, you will understand the roles and responsibilities of their own organization in transaction processing.

At the end of the course you will be able to:

• Describe the transaction lifecycle, how it is managed, and the players involved
• Understand the difference between online and offline authorisation – and why/when they are used
• Have a greater understanding on interchange fees and the role they play in the four party model
• Understand the underlying authorization, clearing and settlement processes
• Identify the different types of billing methods and be able to explain how these correlate your organization's activity
• Know how digital transactions are enhanced and secured
• Explain the importance of compliance and the tools that can help your organization