I say this with the most respect possible. I think there is a slight mistake in the video. Please correct me if I am wrong, I am only here to learn. At 3:20 you can see step 4's description. It says: " Routes data to acquirer" I think that might be wrong because the data is being routed to the issuer. I have learned a lot from this video, so thank you!
I work with this in Brazil, but now I have a client who speaks English, so this video helped me a lot to understand the terms in English and now I can explain to them! thank you!
So therefore BSP must have a big responsibility or obligations from money error to the account holder.mas monitor niyo lahat ng mga miyembro sa labas at pasok ng mga bawat transaction why everytime na magkaroon ng conflict at error system under imbistigation parang malibdiba mas silip dito ni BSP ang pagmumulan hanggang babagsakan at mga system error nito somtimes questionable our reason publicly anouncing to Us.
Thank you for such a clear and informative video! I just have one question: in the authorization stage, why is the acquiring bank involved already? Isn't this step about checking whether the consumer can make the purchase? So why doesn't the POS machine send the data to the issuer directly?
Great question, please note that the Merchant has no direct connection with Issuer (the POS can't connect to Issuer directly; imagine if it has to do that then the POS has to have connections with all banks at in place. Instead a router, acquirer here helps). The acquirer bank is the financial institution that has a relationship with the merchant. Acquirer's primary role is to facilitate transactions on behalf of the merchant. When a customer makes a purchase, the merchant forwards the transaction details to the acquirer bank. The acquirer bank then communicates with the payment networks and the issuer to obtain authorization for the transaction, and it ultimately settles the transaction by transferring funds from the cardholder's account to the merchant's account.
Thanks for this video, pls make a video for "Reconciliation systems"
sure, please share which aspect of reconciliation.
I say this with the most respect possible. I think there is a slight mistake in the video. Please correct me if I am wrong, I am only here to learn. At 3:20 you can see step 4's description.
It says: " Routes data to acquirer" I think that might be wrong because the data is being routed to the issuer. I have learned a lot from this video, so thank you!
Wow thanks, you are absolutely right. The text in the flow needs correction, will correct it 🙏🏻🙏🏻
I work with this in Brazil, but now I have a client who speaks English, so this video helped me a lot to understand the terms in English and now I can explain to them! thank you!
Thanks for your comments 🙏🏻. Very glad that, this was helpful.
@@NurtureLearning can you share the link to \video explaining the various fees involved
@@NehaSharma-gx9cf th-cam.com/video/zFpc4WyQz1Q/w-d-xo.html
Can you share the slide please. Thanks for the content
It's men's when we do payment that time not any fund transfer it's right or no
Hi Rajshree, yes it means that the real money transfer happens in the reconciliation process.
Its intersting so how is vertual card create and how do indvusal crates and sell for third person
thanks for your comment.
very well explained sir 💯💯💯💯
awesome, informative content. More content needed!! Thanks
thanks so much for commenting and for the wamth in comment 🙂
So therefore BSP must have a big responsibility or obligations from money error to the account holder.mas monitor niyo lahat ng mga miyembro sa labas at pasok ng mga bawat transaction why everytime na magkaroon ng conflict at error system under imbistigation parang malibdiba mas silip dito ni BSP ang pagmumulan hanggang babagsakan at mga system error nito somtimes questionable our reason publicly anouncing to Us.
Thanks so much, sorry but don't understand the question properly.
Thank you for such a clear and informative video! I just have one question: in the authorization stage, why is the acquiring bank involved already? Isn't this step about checking whether the consumer can make the purchase? So why doesn't the POS machine send the data to the issuer directly?
Great question, please note that the Merchant has no direct connection with Issuer (the POS can't connect to Issuer directly; imagine if it has to do that then the POS has to have connections with all banks at in place. Instead a router, acquirer here helps). The acquirer bank is the financial institution that has a relationship with the merchant. Acquirer's primary role is to facilitate transactions on behalf of the merchant. When a customer makes a purchase, the merchant forwards the transaction details to the acquirer bank. The acquirer bank then communicates with the payment networks and the issuer to obtain authorization for the transaction, and it ultimately settles the transaction by transferring funds from the cardholder's account to the merchant's account.
great summary
great video, thank you!
glad you liked it, thanks for the comment.
Helpful far banking domain.
Thanks Prashant, glad you found it helpful.
Thanks for your efforts
thanks for your comment, and glad you liked the content.
Super helpful and informative. Thank you!
thanks for commenting, glad you liked it 💐💐
Brilliant! Can you please share the link to the next part? (processing fees for acquirer and IPS)
thanks so much. Here it is th-cam.com/video/zFpc4WyQz1Q/w-d-xo.html
@@NurtureLearningthank you!!
amazing video! Thank you!
thanks for commenting, glad you liked it.
It helped me for my interview. Thanks
Thanks. I’m busy with a startup in the e-commerce space. This video has aided my comprehension in payment space
that's amazing to know, all the very best wishes for your startup 👍🏼👍🏼
Thanks a lot for simple explanation .
thanks for liking and commenting 🙏🏻🙏🏻
I have the co-oerative bank in India and want to start issuing credit cards. what best companies exist to help out in this case?
Timeline for the whole process?
hi, depends (because mostly it's batch based), typically done witinin 24 hours but the notice is given to customers as 48-72 hours.
First step is authentication and not authorisation
yes that's correct; but remember CONTEXT.
Thank you for the very clear information
thanks so much for liking and commenting 🌻🌻
Thankyou so much...😊😊😊
Thanks so much for liking and commenting.
Informative and easy to understand.
Glad you think so and thanks for liking and commenting 👍🏼👍🏼
Can you send this ppt to me
oh, it's been more than an year, I don't think can find it easily now.
super helpful! many thanks!
thanks so much for liking and commenting 🌻🌻
please make a video on direct card routing
Thanks!
thanks for liking and commenting 🙏🏻🙏🏻
really helpful, thanks!
Glad it was helpful ✅ !
where is the fees associated with card processing video ?
Just added it in comments.
Awesome ❤❤❤🎉🎉
thanks so much for liking and commenting 🙏🏻🙏🏻
Well structured and detailed focus video. Thanks so much.
thanks so much for liking and commenting...
Good explanation sir thank you
You're most welcome, thanks for commenting…
Thank you, very clearly explained!
Glad you like it 💐💐
Great n clear explanation..
thanks for your comments, and glad you liked it 💐💐