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Where The Money Flows, The Data Goes.
The document outlines the flow of payments in a transaction involving issuing banks, merchants, and card schemes. It details the various fees associated with transactions, including interchange fees, assessment fees, and processor fees. The summary highlights the importance of understanding how funds are transferred and approved or denied during the transaction process.
Where The Money Flows, The Data Goes.
- 1. ISSUING BANK MERCHANTS ACCOUNT -$ INTERCHANGE FEE Varies ByCard-Type, Merchant-Type, Transaction SIze CUSTOMER’S ACCOUNT $100 $-$0.1 -$ . PROCESSOR/ ACQUIRER CARD SCHEME $98.20 $98.09$100 $97.96 ASSESSMENT FEE Fixed fee for using the Visa/Mastercard networks PROCESSOR FEE Also known as “merchant discount fee” FOLLOW THE MONEY DATA CARD ISSUER PROCESSING CARD SCHEME CUSTOMER’S ACCOUNT TRANSACTION APPROVED/ DENIED FUNDS AVAILABLE? OR MERCHANT CUSTOMER’S CARD FOLLOW THE DATA