Thanks a lot!!! As I'm working in card domain wanted to learn but couldn't find any such related details over internet. You explained in very easy way. :-)
Hi Ramesh. These terms like settlement and reconciliation were so confusing for me but after watching your videos basic concepts are cleared. Thanks a lot and keep it up.
Introducing my website www.alltekkies.com, All Tekkies is a platform where you can ask a question, answer any question, and can have chat with experts/tekkies/friends, there you have 2 options to have chat with tekkies, Public as well as Private (one to one) chat. Signup in simple steps and be a part of All Tekkies. A great platform for Tekkies, Domain Experts, beginners, teachers and students across the locations to connect thru All Tekkies and share knowledge. Coming soon.... Android and iOS Mobile App, Registration as a domain expert, book a session with expert and many more to come. Stay connected on our youtube channel and fb page for upcoming events… ruclips.net/user/rameshchugh24 facebook.com/All-Tekkies-221550138572215/ Have a look at the video on my channel for a demonstration on how to use our website www.alltekkies.com ruclips.net/video/xO-_Ueg6Ca4/видео.html Please signup and share it with your friends, colleagues, and family. Thank you ! Cheers ! All Tekkies www.alltekkies.com
Introducing my website www.alltekkies.com, All Tekkies is a platform where you can ask a question, answer any question, and can have chat with experts/tekkies/friends, there you have 2 options to have chat with tekkies, Public as well as Private (one to one) chat. Signup in simple steps and be a part of All Tekkies. A great platform for Tekkies, Domain Experts, beginners, teachers and students across the locations to connect thru All Tekkies and share knowledge. Coming soon.... Android and iOS Mobile App, Registration as a domain expert, book a session with expert and many more to come. Stay connected on our youtube channel and fb page for upcoming events… ruclips.net/user/rameshchugh24 facebook.com/All-Tekkies-221550138572215/ Have a look at the video on my channel for a demonstration on how to use our website www.alltekkies.com ruclips.net/video/xO-_Ueg6Ca4/видео.html Please signup and share it with your friends, colleagues, and family. Thank you ! Cheers ! All Tekkies www.alltekkies.com
Introducing my website www.alltekkies.com, All Tekkies is a platform where you can ask a question, answer any question, and can have chat with experts/tekkies/friends, there you have 2 options to have chat with tekkies, Public as well as Private (one to one) chat. Signup in simple steps and be a part of All Tekkies. A great platform for Tekkies, Domain Experts, beginners, teachers and students across the locations to connect thru All Tekkies and share knowledge. Coming soon.... Android and iOS Mobile App, Registration as a domain expert, book a session with expert and many more to come. Stay connected on our youtube channel and fb page for upcoming events… ruclips.net/user/rameshchugh24 facebook.com/All-Tekkies-221550138572215/ Have a look at the video on my channel for a demonstration on how to use our website www.alltekkies.com ruclips.net/video/xO-_Ueg6Ca4/видео.html Please signup and share it with your friends, colleagues, and family. Thank you ! Cheers ! All Tekkies www.alltekkies.com
Sir merchant swipe card for 4% comission and giving cash to me. but now after getting money he is denied giving the money to me....due to urgent financial need i done this....so can i get my money or anyway can get back the money reverse in my credit card....plz reply it would be very help full.....
1- Is Payment Processor and Payment Scheme same? 2- what is the exact role of ViSA/mastercard other than providing a gateway between acquirer and issuer bank? Even validation is only happening at issuer bank side. 3- when acquirer and issuer bank is same how visa and mastercard charge. 4- why issuer bank provide payment scheme while issuing the credit card/ debit card why can't bank simply provide credit card without any visa or MasterCard
Hi Ramesh, appreciate your work and knowledge on the payments. I have a few questions w.r.t. offline transactions. What happens when an incorrect PIN is entered by the user? What happens when there is no available balance in the account of the cardholder (CC Maximum Limit is exhausted/DC has insufficient balance)? What if the card is an Insta DC and is inactive/not mapped to an account or hotlisted?
Each POS sends a batch with its Merchant and Terminal Number, the batch is created in POS and Acquiring System when the 1st trxn is submitted and closed when merchant submit the business end of the day, next day again when the trxn is performed a new batch is open,. I am currently working on to release something on HSM Keys. Please stay connected I am working on a project to provide a platform where you can post all your queries and we will try level best to answer, you can also have chat with experts, we will soon be launching it. Thanks !
Introducing my website www.alltekkies.com, All Tekkies is a platform where you can ask a question, answer any question, and can have chat with experts/tekkies/friends, there you have 2 options to have chat with tekkies, Public as well as Private (one to one) chat. Signup in simple steps and be a part of All Tekkies. A great platform for Tekkies, Domain Experts, beginners, teachers and students across the locations to connect thru All Tekkies and share knowledge. Coming soon.... Android and iOS Mobile App, Registration as a domain expert, book a session with expert and many more to come. Stay connected on our youtube channel and fb page for upcoming events… ruclips.net/user/rameshchugh24 facebook.com/All-Tekkies-221550138572215/ Have a look at the video on my channel for a demonstration on how to use our website www.alltekkies.com ruclips.net/video/xO-_Ueg6Ca4/видео.html Please signup and share it with your friends, colleagues, and family. Thank you ! Cheers ! All Tekkies www.alltekkies.com
Very nice explanation. One question - What do you mean by online and offline transaction on a POS device? Does online transaction mean the POS is connected to Acquirer bank over the network and when customer swipes his card in it a batch transaction will be sent to the Acquirer immediately whereas in case of offline transaction it will be sent later?
Hi sir, is there a possibility where the merchant misses to batch his txns and txn goes unsettled. And there are some scenarios where the txns goes unclaimed for more than 5 days, What could be the reason ?
Maybe this question doesn’t go with the lesson .. after making authorization on AMX it doesn’t accept the payment.. only with American express ! Why is that and what is the way to make payments done .. ps: can I make the payment with the Auth code ?!!
Offline approvals usually take place when the issuer configures the risk and the acquirer bears it; meaning that the card is a Credit and not a Debit for example and in this case the value chain is not (that) fussy about the pin! For instance, assume that you insert your credit card, enter your pin and as soon as the merchant pushes the purchase button, the link goes down! At this stage (too many stories here but keep it simple) the card and terminal has already done the risk assessment (chip EMV) and we are half way authenticated! Well, the link goes down meaning that no PIN authorization is performed. The terminal at this stage decides whether to approved the transaction offline or decline it! In our example, because the card was a Credit and the terminal has already authenticated the chip and vice versa (in EMV we have SDA, DDA etc regarding the authentication), the terminal decides to approve it offline (even though the customer might have entered the wrong pin or has found the card on the ground and used it illegally). So the transaction is approved and is saved in the batch as offline.The advice 0220 of this transaction will be sent to the acquirer as soon as the terminal's link goes up later. Note that there is no 0200 or 0100 will be sent in this case! Only offline advice 0220! And the acquirer switch has no choices but to approve it with 230:DE39=xx (xx sometimes 00 but most acquirers set to other numbers) and add it to the posting file for clearing. Offline limits are set in the terminal based on the terminal owner and acquirer requirements to prevent large $$$ offline transactions. It is usually max $100 in Australia and some smaller acquirer banks set it even to 0$ to eliminate the risk. Oddly sometimes there are some acquirer banks that accept the offline transactions even though chip EMV has already warned about the riskiness of the transaction or the issuer bank has set the chip offline limit to $0. The acquirers absorb this crazy risk because they want to show that they have very minor downtime in the network and in case of rare downtime they accept most of the transactions offline. They do this to get acquirer more merchants (Merchants go crazy when the network goes down and they can't sell!) So the short answer is that in case of offline approval due to link failure, there is no pin validation and the acquirer network absorbs the risk with considering the issuer's card configurations that are stored in the chip! Same story goes for magstripe transactions. But note that magstripe risks are much higher because there is no chip in the card, no EMV, no risk assessment etc. For instance, forgers can create fake magstripe cards and use it at terminal (insert) and turn on their pocket signal jammer at the same time to kill the terminals GPRS and force the transaction go offline. That's why accepting magstripe offline is not recommended.
Hi Ramesh, first of all thank you very much for explaining the concepts of payment systems in so easy to grasp way. Could you pls help me to clarify what would happen in the scenario when POS approved an offline transaction by a customer debit card of amount $50 but his debit card has balance of $25 only. In this case, when POS becomes online with acquirer, I understand from earlier video that due to global rule we can not decline it. So, how merchant is going to get payment from issuer because his debit card does not have sufficient balance?
For an offline transaction, I understand these are done at the merchant's discretion based on their trust levels with the customer? Will offline transactions ALWAYS be honored by the Issuer?
there will be this much of amount limit called as floor limit, which already mentioned by issuer bank. When there is a network down ⬇️, in absence of me (issuer bank) you ( PoS) can allow transaction but based on floor limit. For ex issuer bank is SBI, SBI sets floor limit as 5000 rs, then pos can make decision of transaction, upto 5000rs.
Yes, it depends on the card issuer as well. For example, for a SBI Platinum Gold card there is a pre approved amount upto 5000/-. Even if SBI as issuing network is not available due to some reason, then too a transaction upto 5k will be automatically approved by the acquiring switch.
In batch i guess the POS machine accepts the payment and later in batch its recoincilled..what if the customer somehow get its credit card approved takes the item and goes away and during recoincilation the accquirer gets to know that the transaction is invalid, due to some reason? how will the merchant get his money bank from customer?
I am not sure if i get your question correctly, but any mismatch of trxn, amount or exception is handled through the batch reconciliation which issuer has to accept and post to cardholder.
I think 🤔 there will be this much of amount limit called as floor limit, which already mentioned by issuer bank. When there is a network down ⬇️, in absence of me (issuer bank) you ( PoS) can allow transaction but based on floor limit. For ex issuer bank is SBI, SBI sets floor limit as 5000 rs, then pos can make decision of transaction, upto 5000rs.
Hi Ramesh, Thanks for sharing this videos...Can you please clarify 2 things..1> the above video how the Issuer Bank credit all the transactions (10 txn) to Acquirer bank? 2> How the Interchange Fees happen here..all fees including Issuer, Card Network, Acquier etc?
I will try to cover a separate video on the settlement between Acquirer/Scheme/Issue and interchange fee however now I am working on to release something on HSM Keys. Please stay connected with me on my youtube channel, I am working on a project to provide a platform where you can post all your queries and we will try level best to answer, you can also have chat with experts, we will soon be launching it. Thanks !
Introducing my website www.alltekkies.com, All Tekkies is a platform where you can ask a question, answer any question, and can have chat with experts/tekkies/friends, there you have 2 options to have chat with tekkies, Public as well as Private (one to one) chat. Signup in simple steps and be a part of All Tekkies. A great platform for Tekkies, Domain Experts, beginners, teachers and students across the locations to connect thru All Tekkies and share knowledge. Coming soon.... Android and iOS Mobile App, Registration as a domain expert, book a session with expert and many more to come. Stay connected on our youtube channel and fb page for upcoming events… ruclips.net/user/rameshchugh24 facebook.com/All-Tekkies-221550138572215/ Have a look at the video on my channel for a demonstration on how to use our website www.alltekkies.com ruclips.net/video/xO-_Ueg6Ca4/видео.html Please signup and share it with your friends, colleagues, and family. Thank you ! Cheers ! All Tekkies www.alltekkies.com
Each merchant has an account in acquiring bank. An agreement is signed b/w two parties. The acquiring bank installs and setups terminals (POS, ATM and Kiosk) for the merchant. After the EOD (End of day) operation or the batch closure/ reconciliation, the acquiring bank credits the merchant account with the total transactions amount after successful reconciliation. You might ask, how the acquiring bank will receive the money? from which source? There is a central bank in each country like Da Afghanistan bank in my country. All banks have an account in the central bank. The payment system which connects all the banks together will send the settlement files to the central bank, then the central bank credits or debits the banks account based on settlement file. I hope it could help you to resolve your doubt.
Hello sir, I watched your entire video. it's really very knowledgeable. basically, I am facing some difficulty in the reconciliation of my account of POS. as I am working for a petrol pump. I am facing such kind of issue. as my dr amount and cr amount is not matching. and the employer is forcing me to pay the difference amount, of 2lakh rupees. Please advise me is there any way to identify the what is the actual problem. in this. , please help me out sir if it is possible or advice me is there any company or person who can do the audit from my side and find the actual fact.
Introducing my website www.alltekkies.com, All Tekkies is a platform where you can ask a question, answer any question, and can have chat with experts/tekkies/friends, there you have 2 options to have chat with tekkies, Public as well as Private (one to one) chat. Signup in simple steps and be a part of All Tekkies. A great platform for Tekkies, Domain Experts, beginners, teachers and students across the locations to connect thru All Tekkies and share knowledge. Coming soon.... Android and iOS Mobile App, Registration as a domain expert, book a session with expert and many more to come. Stay connected on our youtube channel and fb page for upcoming events… ruclips.net/user/rameshchugh24 facebook.com/All-Tekkies-221550138572215/ Have a look at the video on my channel for a demonstration on how to use our website www.alltekkies.com ruclips.net/video/xO-_Ueg6Ca4/видео.html Please signup and share it with your friends, colleagues, and family. Thank you ! Cheers ! All Tekkies www.alltekkies.com
the above example is between pos and acquirer. if an issuer host is offline then depending on if issuer is using STIP scheme will approve the Trxn and once the connection is restored will send all those Trxn as offline STIP advices..
Introducing my website www.alltekkies.com, All Tekkies is a platform where you can ask a question, answer any question, and can have chat with experts/tekkies/friends, there you have 2 options to have chat with tekkies, Public as well as Private (one to one) chat. Signup in simple steps and be a part of All Tekkies. A great platform for Tekkies, Domain Experts, beginners, teachers and students across the locations to connect thru All Tekkies and share knowledge. Coming soon.... Android and iOS Mobile App, Registration as a domain expert, book a session with expert and many more to come. Stay connected on our youtube channel and fb page for upcoming events… ruclips.net/user/rameshchugh24 facebook.com/All-Tekkies-221550138572215/ Have a look at the video on my channel for a demonstration on how to use our website www.alltekkies.com ruclips.net/video/xO-_Ueg6Ca4/видео.html Please signup and share it with your friends, colleagues, and family. Thank you ! Cheers ! All Tekkies www.alltekkies.com
Not sure if i know the exact timeframe but in general it is driven by multiple factors , operational setup, domestic or global clearing house system, etc. e2e process may take few days of time for all the parties to receive their funds - ie merchants , acquirer, network, and issuer etc.
Hi Ramesh Thanks for sharing above video. I have one doubt. In that video as you said the offline transaction will reach issuer bank when next online transaction will be done by POS machine. My doubt is POS machine did 4 online transaction and 5th transaction is offline transaction after that there is no transaction done by POS machine. Then merchant was closed the shop now he is doing batch reconciliation and closure. So the settlement will be done only for 4 online transaction. Do the merchant should we wait for that offline transaction amount until next day? or is there any other way?
Thanks a lot!!! As I'm working in card domain wanted to learn but couldn't find any such related details over internet. You explained in very easy way. :-)
Thanks a lot for creating videos!
excellent video...!
keep them coming.
Thanks for sharing the knowledge!! Much appreciated!
Hi Ramesh. These terms like settlement and reconciliation were so confusing for me but after watching your videos basic concepts are cleared. Thanks a lot and keep it up.
he didn't address the settlement in this video! how did you understand that?
It's a very understandable language.. Thanks for sharing such information
Once again a great video :) Thank you so much, you are doing a wonderful job
Thnx Naveen
Introducing my website www.alltekkies.com,
All Tekkies is a platform where you can ask a question, answer any question, and can have chat with experts/tekkies/friends, there you have 2 options to have chat with tekkies, Public as well as Private (one to one) chat.
Signup in simple steps and be a part of All Tekkies.
A great platform for Tekkies, Domain Experts, beginners, teachers and students across the locations to connect thru All Tekkies and share knowledge.
Coming soon.... Android and iOS Mobile App, Registration as a domain expert, book a session with expert and many more to come.
Stay connected on our youtube channel and fb page for upcoming events…
ruclips.net/user/rameshchugh24
facebook.com/All-Tekkies-221550138572215/
Have a look at the video on my channel for a demonstration on how to use our website www.alltekkies.com
ruclips.net/video/xO-_Ueg6Ca4/видео.html
Please signup and share it with your friends, colleagues, and family.
Thank you !
Cheers !
All Tekkies
www.alltekkies.com
Hi Ramesh , many thanks aagin . nice video.
Very Knowledgeable.
Introducing my website www.alltekkies.com,
All Tekkies is a platform where you can ask a question, answer any question, and can have chat with experts/tekkies/friends, there you have 2 options to have chat with tekkies, Public as well as Private (one to one) chat.
Signup in simple steps and be a part of All Tekkies.
A great platform for Tekkies, Domain Experts, beginners, teachers and students across the locations to connect thru All Tekkies and share knowledge.
Coming soon.... Android and iOS Mobile App, Registration as a domain expert, book a session with expert and many more to come.
Stay connected on our youtube channel and fb page for upcoming events…
ruclips.net/user/rameshchugh24
facebook.com/All-Tekkies-221550138572215/
Have a look at the video on my channel for a demonstration on how to use our website www.alltekkies.com
ruclips.net/video/xO-_Ueg6Ca4/видео.html
Please signup and share it with your friends, colleagues, and family.
Thank you !
Cheers !
All Tekkies
www.alltekkies.com
Great video....would like to watch the videos related to UPI transaction.
Thank you so much
Introducing my website www.alltekkies.com,
All Tekkies is a platform where you can ask a question, answer any question, and can have chat with experts/tekkies/friends, there you have 2 options to have chat with tekkies, Public as well as Private (one to one) chat.
Signup in simple steps and be a part of All Tekkies.
A great platform for Tekkies, Domain Experts, beginners, teachers and students across the locations to connect thru All Tekkies and share knowledge.
Coming soon.... Android and iOS Mobile App, Registration as a domain expert, book a session with expert and many more to come.
Stay connected on our youtube channel and fb page for upcoming events…
ruclips.net/user/rameshchugh24
facebook.com/All-Tekkies-221550138572215/
Have a look at the video on my channel for a demonstration on how to use our website www.alltekkies.com
ruclips.net/video/xO-_Ueg6Ca4/видео.html
Please signup and share it with your friends, colleagues, and family.
Thank you !
Cheers !
All Tekkies
www.alltekkies.com
hi @Ramesh please do a video on blocking card
Great Video.. sir.. about exception handling.. can u upload more videos
Thanks , all my videos are available on. ruclips.net/user/rameshchugh24. For any further question you can reach me at www.alltekkies.com
How did you find more transaction details can I take transaction code or transaction extra log or transaction status
If we learn card and payment transaction then what kind of job available for developer...
Hi, great video. I didn't get one point how online transaction is done at POS end.
How to settled online transaction?
Sir merchant swipe card for 4% comission and giving cash to me. but now after getting money he is denied giving the money to me....due to urgent financial need i done this....so can i get my money or anyway can get back the money reverse in my credit card....plz reply it would be very help full.....
Hi Ramesh, if for some reason, the batch is not sent, then is it included in the next day's batch?
How offline transaction check authorization??
1- Is Payment Processor and Payment Scheme same?
2- what is the exact role of ViSA/mastercard other than providing a gateway between acquirer and issuer bank? Even validation is only happening at issuer bank side.
3- when acquirer and issuer bank is same how visa and mastercard charge.
4- why issuer bank provide payment scheme while issuing the credit card/ debit card why can't bank simply provide credit card without any visa or MasterCard
payment processor and payment scheme are different.
VISA and master card are payment scheme. Customer is able to make purchases because of this scheme only.
Hi Ramesh, appreciate your work and knowledge on the payments. I have a few questions w.r.t. offline transactions.
What happens when an incorrect PIN is entered by the user?
What happens when there is no available balance in the account of the cardholder (CC Maximum Limit is exhausted/DC has insufficient balance)?
What if the card is an Insta DC and is inactive/not mapped to an account or hotlisted?
@ POS & ACQ end batching is done according to card bin or just randomly. I mean according to issuer bank or according to card network's or both
Each POS sends a batch with its Merchant and Terminal Number, the batch is created in POS and Acquiring System when the 1st trxn is submitted and closed when merchant submit the business end of the day, next day again when the trxn is performed a new batch is open,.
I am currently working on to release something on HSM Keys.
Please stay connected I am working on a project to provide a platform where you can post all your queries and we will try level best to answer, you can also have chat with experts, we will soon be launching it. Thanks !
Thanks for reply and support...
Your work is amazing. It will help to all in so many ways....
Introducing my website www.alltekkies.com,
All Tekkies is a platform where you can ask a question, answer any question, and can have chat with experts/tekkies/friends, there you have 2 options to have chat with tekkies, Public as well as Private (one to one) chat.
Signup in simple steps and be a part of All Tekkies.
A great platform for Tekkies, Domain Experts, beginners, teachers and students across the locations to connect thru All Tekkies and share knowledge.
Coming soon.... Android and iOS Mobile App, Registration as a domain expert, book a session with expert and many more to come.
Stay connected on our youtube channel and fb page for upcoming events…
ruclips.net/user/rameshchugh24
facebook.com/All-Tekkies-221550138572215/
Have a look at the video on my channel for a demonstration on how to use our website www.alltekkies.com
ruclips.net/video/xO-_Ueg6Ca4/видео.html
Please signup and share it with your friends, colleagues, and family.
Thank you !
Cheers !
All Tekkies
www.alltekkies.com
Very nice explanation. One question - What do you mean by online and offline transaction on a POS device? Does online transaction mean the POS is connected to Acquirer bank over the network and when customer swipes his card in it a batch transaction will be sent to the Acquirer immediately whereas in case of offline transaction it will be sent later?
Online means each transaction is validated by the Issuer; batch is submitted at the close of business for reconciliation
Hi sir, is there a possibility where the merchant misses to batch his txns and txn goes unsettled.
And there are some scenarios where the txns goes unclaimed for more than 5 days, What could be the reason ?
Maybe this question doesn’t go with the lesson .. after making authorization on AMX it doesn’t accept the payment.. only with American express !
Why is that and what is the way to make payments done ..
ps: can I make the payment with the Auth code ?!!
In case of network failure, offline approved cases at POS , how pin validation is done..
Offline approvals usually take place when the issuer configures the risk and the acquirer bears it; meaning that the card is a Credit and not a Debit for example and in this case the value chain is not (that) fussy about the pin! For instance, assume that you insert your credit card, enter your pin and as soon as the merchant pushes the purchase button, the link goes down! At this stage (too many stories here but keep it simple) the card and terminal has already done the risk assessment (chip EMV) and we are half way authenticated! Well, the link goes down meaning that no PIN authorization is performed. The terminal at this stage decides whether to approved the transaction offline or decline it! In our example, because the card was a Credit and the terminal has already authenticated the chip and vice versa (in EMV we have SDA, DDA etc regarding the authentication), the terminal decides to approve it offline (even though the customer might have entered the wrong pin or has found the card on the ground and used it illegally). So the transaction is approved and is saved in the batch as offline.The advice 0220 of this transaction will be sent to the acquirer as soon as the terminal's link goes up later. Note that there is no 0200 or 0100 will be sent in this case! Only offline advice 0220! And the acquirer switch has no choices but to approve it with 230:DE39=xx (xx sometimes 00 but most acquirers set to other numbers) and add it to the posting file for clearing.
Offline limits are set in the terminal based on the terminal owner and acquirer requirements to prevent large $$$ offline transactions. It is usually max $100 in Australia and some smaller acquirer banks set it even to 0$ to eliminate the risk. Oddly sometimes there are some acquirer banks that accept the offline transactions even though chip EMV has already warned about the riskiness of the transaction or the issuer bank has set the chip offline limit to $0. The acquirers absorb this crazy risk because they want to show that they have very minor downtime in the network and in case of rare downtime they accept most of the transactions offline. They do this to get acquirer more merchants (Merchants go crazy when the network goes down and they can't sell!)
So the short answer is that in case of offline approval due to link failure, there is no pin validation and the acquirer network absorbs the risk with considering the issuer's card configurations that are stored in the chip!
Same story goes for magstripe transactions. But note that magstripe risks are much higher because there is no chip in the card, no EMV, no risk assessment etc. For instance, forgers can create fake magstripe cards and use it at terminal (insert) and turn on their pocket signal jammer at the same time to kill the terminals GPRS and force the transaction go offline. That's why accepting magstripe offline is not recommended.
Card payment processing journal entry issuer bank and aqierer bank
Hi Ramesh, first of all thank you very much for explaining the concepts of payment systems in so easy to grasp way. Could you pls help me to clarify what would happen in the scenario when POS approved an offline transaction by a customer debit card of amount $50 but his debit card has balance of $25 only. In this case, when POS becomes online with acquirer, I understand from earlier video that due to global rule we can not decline it. So, how merchant is going to get payment from issuer because his debit card does not have sufficient balance?
Issuer will settle the amount, put customers account in negative and recover from the customer
For an offline transaction, I understand these are done at the merchant's discretion based on their trust levels with the customer? Will offline transactions ALWAYS be honored by the Issuer?
there will be this much of amount limit called as floor limit, which already mentioned by issuer bank. When there is a network down ⬇️, in absence of me (issuer bank) you ( PoS) can allow transaction but based on floor limit. For ex issuer bank is SBI, SBI sets floor limit as 5000 rs, then pos can make decision of transaction, upto 5000rs.
Hi, Can we initiate preapproved transactions both pos and ecom ?
Yes, it depends on the card issuer as well. For example, for a SBI Platinum Gold card there is a pre approved amount upto 5000/-. Even if SBI as issuing network is not available due to some reason, then too a transaction upto 5k will be automatically approved by the acquiring switch.
Quick question Ramesh - Can you please explain how can we inter relate POS - Card & Payments to BASE24?
POS and BASE 24 are two different component, POS is customer facing application(hardware) and Base 24 is switch which listen to that device
In batch i guess the POS machine accepts the payment and later in batch its recoincilled..what if the customer somehow get its credit card approved takes the item and goes away and during recoincilation the accquirer gets to know that the transaction is invalid, due to some reason? how will the merchant get his money bank from customer?
I am not sure if i get your question correctly, but any mismatch of trxn, amount or exception is handled through the batch reconciliation which issuer has to accept and post to cardholder.
Very important question how come POS can do transaction without authorisation of issuer in case of offlinetransactions.??
I think 🤔 there will be this much of amount limit called as floor limit, which already mentioned by issuer bank. When there is a network down ⬇️, in absence of me (issuer bank) you ( PoS) can allow transaction but based on floor limit. For ex issuer bank is SBI, SBI sets floor limit as 5000 rs, then pos can make decision of transaction, upto 5000rs.
Hi Ramesh, Thanks for sharing this videos...Can you please clarify 2 things..1> the above video how the Issuer Bank credit all the transactions (10 txn) to Acquirer bank? 2> How the Interchange Fees happen here..all fees including Issuer, Card Network, Acquier etc?
I will try to cover a separate video on the settlement between Acquirer/Scheme/Issue and interchange fee however now I am working on to release something on HSM Keys.
Please stay connected with me on my youtube channel, I am working on a project to provide a platform where you can post all your queries and we will try level best to answer, you can also have chat with experts, we will soon be launching it. Thanks !
Introducing my website www.alltekkies.com,
All Tekkies is a platform where you can ask a question, answer any question, and can have chat with experts/tekkies/friends, there you have 2 options to have chat with tekkies, Public as well as Private (one to one) chat.
Signup in simple steps and be a part of All Tekkies.
A great platform for Tekkies, Domain Experts, beginners, teachers and students across the locations to connect thru All Tekkies and share knowledge.
Coming soon.... Android and iOS Mobile App, Registration as a domain expert, book a session with expert and many more to come.
Stay connected on our youtube channel and fb page for upcoming events…
ruclips.net/user/rameshchugh24
facebook.com/All-Tekkies-221550138572215/
Have a look at the video on my channel for a demonstration on how to use our website www.alltekkies.com
ruclips.net/video/xO-_Ueg6Ca4/видео.html
Please signup and share it with your friends, colleagues, and family.
Thank you !
Cheers !
All Tekkies
www.alltekkies.com
Wow...it sounds good. Thanks for the information.
Each merchant has an account in acquiring bank. An agreement is signed b/w two parties. The acquiring bank installs and setups terminals (POS, ATM and Kiosk) for the merchant. After the EOD (End of day) operation or the batch closure/ reconciliation, the acquiring bank credits the merchant account with the total transactions amount after successful reconciliation. You might ask, how the acquiring bank will receive the money? from which source? There is a central bank in each country like Da Afghanistan bank in my country. All banks have an account in the central bank. The payment system which connects all the banks together will send the settlement files to the central bank, then the central bank credits or debits the banks account based on settlement file. I hope it could help you to resolve your doubt.
Hello sir, I watched your entire video. it's really very knowledgeable. basically, I am facing some difficulty in the reconciliation of my account of POS. as I am working for a petrol pump. I am facing such kind of issue. as my dr amount and cr amount is not matching. and the employer is forcing me to pay the difference amount, of 2lakh rupees.
Please advise me is there any way to identify the what is the actual problem. in this. , please help me out sir if it is possible or advice me is there any company or person who can do the audit from my side and find the actual fact.
Who is the POS provider
For questions and answer Pls watch this video.
ruclips.net/video/clQ-4m9Yk-U/видео.html
Sir settlement krna same day jaruri h ya next day ho sakta h ya phir auto settlement ho jayega plzzz reply
For questions and answer Pls watch this video.
ruclips.net/video/clQ-4m9Yk-U/видео.html
what happen when customer do puchase of 100$but he have 10$ in his account
Online trxn of full amount will be declined.
Partial AUTH approval will depend on Issuer setup.
Offline AUTH will be approved.
Introducing my website www.alltekkies.com,
All Tekkies is a platform where you can ask a question, answer any question, and can have chat with experts/tekkies/friends, there you have 2 options to have chat with tekkies, Public as well as Private (one to one) chat.
Signup in simple steps and be a part of All Tekkies.
A great platform for Tekkies, Domain Experts, beginners, teachers and students across the locations to connect thru All Tekkies and share knowledge.
Coming soon.... Android and iOS Mobile App, Registration as a domain expert, book a session with expert and many more to come.
Stay connected on our youtube channel and fb page for upcoming events…
ruclips.net/user/rameshchugh24
facebook.com/All-Tekkies-221550138572215/
Have a look at the video on my channel for a demonstration on how to use our website www.alltekkies.com
ruclips.net/video/xO-_Ueg6Ca4/видео.html
Please signup and share it with your friends, colleagues, and family.
Thank you !
Cheers !
All Tekkies
www.alltekkies.com
Response Code DE39=51
Decline due to Not Sufficient Funds
Sir if I forgot sattlement then is it will be money credit to my ac automatically ?
can anybody share complete list or sequence in that in to view instead of randomly watching video one by one.
You can search Ramesh Chugh in RUclips and will get the complete list of videos
Please use this Linke ruclips.net/user/rameshchugh24videos?view_as=subscriber
Does offline means card payment HOST offline or POS offline ?
the above example is between pos and acquirer. if an issuer host is offline then depending on if issuer is using STIP scheme will approve the Trxn and once the connection is restored will send all those Trxn as offline STIP advices..
Introducing my website www.alltekkies.com,
All Tekkies is a platform where you can ask a question, answer any question, and can have chat with experts/tekkies/friends, there you have 2 options to have chat with tekkies, Public as well as Private (one to one) chat.
Signup in simple steps and be a part of All Tekkies.
A great platform for Tekkies, Domain Experts, beginners, teachers and students across the locations to connect thru All Tekkies and share knowledge.
Coming soon.... Android and iOS Mobile App, Registration as a domain expert, book a session with expert and many more to come.
Stay connected on our youtube channel and fb page for upcoming events…
ruclips.net/user/rameshchugh24
facebook.com/All-Tekkies-221550138572215/
Have a look at the video on my channel for a demonstration on how to use our website www.alltekkies.com
ruclips.net/video/xO-_Ueg6Ca4/видео.html
Please signup and share it with your friends, colleagues, and family.
Thank you !
Cheers !
All Tekkies
www.alltekkies.com
Hii sir , how much amount of time takes place in settlement after the clearance??
Not sure if i know the exact timeframe but in general it is driven by multiple factors , operational setup, domestic or global clearing house system, etc. e2e process may take few days of time for all the parties to receive their funds - ie merchants , acquirer, network, and issuer etc.
@@TheDomainPodium-English sir then T+2 , T+3 days are for the full payment process or just for clearance?
Sir INDIA se hi hai na?????
Please hindi me explain kariye
Hi
Hi Ramesh Thanks for sharing above video. I have one doubt. In that video as you said the offline transaction will reach issuer bank when next online transaction will be done by POS machine. My doubt is POS machine did 4 online transaction and 5th transaction is offline transaction after that there is no transaction done by POS machine. Then merchant was closed the shop now he is doing batch reconciliation and closure. So the settlement will be done only for 4 online transaction. Do the merchant should we wait for that offline transaction amount until next day? or is there any other way?
Hi, This scenario is also covered in my Videos, in this case before batch closure offline will be submitted to issuer.
Ok thank you
pls watch it again if u still have doubt let me know
thanks
OK Ramesh Thanks for ur reply n I ll watch it again
For questions and answer Pls watch this video.
ruclips.net/video/clQ-4m9Yk-U/видео.html
Sir how to contact you?
chat.whatsapp.com/FXnPTDyqHaC4uHRxzdqgas
How can I contact you?
LinkedIn pls
@@TheDomainPodium-English please send me link..there are many search results unders your name
www.linkedin.com/in/ramesh-kumar-chugh-29266597
@@TheDomainPodium-English I sent you request..please accept it..