Priceless switching for Mastercard branded card transactions

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

The transaction switching process consists of three stages:

 

 

1. 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.

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2. Clearing:

The process of exchanging financial transaction details between an acquirer and an issuer to facilitate posting of a cardholder's account and reconciliation of a customer's settlement position.

 

 

3. 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 system.

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