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We leverage Mastercard’s worldwide network, which links issuers and acquirers around the world for transaction processing services.

 

 

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Mastercard Switching Services encompass three core activities: authorization, clearing and settlement. Mastercard’s transactions are processed using its Authorization Platform, Global Clearing Management System (GCMS) and the Mastercard Settlement Account Management (SAM) system.

Authorization:

The process of transporting authorization requests, responses, cancellations, and advisement messages necessary to verify the identity of the cardholder, authenticity of the card and availability of funds at the time of purchase.

Clearing:

The process of exchanging financial transaction details between an acquirer and an issuer to facilitate posting to a cardholder's account and reconciliation of a customer's settlement position. Global Clearing Management System (GCMS), Mastercard’s centralized clearing facility, performs uninterrupted processing and routing of card transactions between Mastercard and its acquirers and issuers. GCMS accepts the information, edits it, assesses the appropriate fees and routes it to the appropriate receiver.

Settlement:

The process by which the network facilitates the exchange of funds on behalf of issuers and acquirers. To facilitate the settlement of funds, Mastercard uses the Settlement Account Management (SAM) system. Mastercard calculates the net position of each acquirer and issuer involved in the clearing process and performs two settlement functions, namely sending advisements and transferring funds.