Byte 3 - Authorization Processing

[@sujatadeshinge7936]

You are providing wonderful content at free of cost, Thanks 🙏👍

[@akankshasubhangam623]

Very well explained....👍

[@zenfitteam7622]

Plese discuss MDR and probably MCC also

[@tejasdugade1051]

Thanks for the basic concepts ✌

[@JamesEdwards-t5e]

I really enjoy your videos and I have learned a lot about cards. I am very interested in knowing how payment processing works in the case where the currency associated with the card differs from the currency in which the merchant receive the payments. I am also interested in knowing how refund processing works: when the currency of the merchant and the issuer of the payment match and when a currency exchange must be made. I really will appreciat if you can explain.

[@jkgarvit]

Well structured and enough details

[@nitinkaushik6456]

Very well explained, thanks for the video.

[@LearnPayments]

Thank you!

[@venkatraothota5620]

Principle and affiliate members can be explained with the scenario of schemes involvement. Also liability of interchange fees.

[@badrisukumaran9268]

Well explained, thanks

[@superjoaopais]

Great content and clear explanations!

[@LearnPayments]

Cheers, Thank you

[@venkatraothota5620]

May be not relevant but would like to know about buy sell and mid rate while conversation of currencies.

[@venkatraothota5620]

Also about Vostro Nostro and Loro accounts.

[@jakkammadhurya5222]

Well explained

[@viswanrajan6739]

Hello - Issuing and acquiring transaction process are same ? Pls clarify like authorisation side

[@shreesule]

what is a difference in an issuer switch, accquier switch and scheme. lets consider a following example i have a SBI card with VISA as a scheme and carry out a transaction on AXIS bank pos terminal.

[@LearnPayments]

Hi, Issuer Switch interfaces with the Scheme, It receives transactions from Schemes, does all the required validation from an issuer perspective like OTB, CVC, PIN validations etc. and respond to scheme. Acquirer Switch maintains the communications channels with the terminals (acquiring channels) like POS, mPOS, ATMs etc. It also maintains the interfaces with the schemes as well. Receives the transactions and passes it to the Scheme. Scheme acts as an interface between Acquirers & Issuers. You may want to watch my video "Payment Transaction Switch - A Primer" kzbin.info/www/bejne/l6iUgJawltaKf6M for more information. Cheers.

[@zenfitteam7622]

Super helpful

[@patilvijay48]

I want to do full course on payment and switch also ISO 8583 ..Can you guide me? Message formatting etc DE

[@harshithmanepalli2359]

What exactly acquirer will do and what exactly issuer will do?

[@LearnPayments]

chargebacks911.com/issuer-vs-acquirer/

[@harshithmanepalli2359]

@@LearnPayments thanks very useful

[@y.c.breddy3153]

Where we can find transaction details like transaction code or transaction extra log , transaction history which is the best answer

[@LearnPayments]

You'll find it in the switch

[@y.c.breddy3153]

@@LearnPayments I want more details about transaction so which one can I prefer brother like transaction code or transaction extra log or transaction status

[@lavankumar6249]

Good information, but small correction POS will not create ISO8583 Acquirer bank will create ISO8583 Correct me if I'm wrong.. Good article Sir👏👏

[@LearnPayments]

POS can also generate a ISO8583. But the message format between POS and Acquirer is proprietary between them

[@harshithmanepalli2359]

Who is issuer is it bank server?

[@LearnPayments]

Suggest you read the link i provided for your comment. Issuer here refers to a Financial Institution which hosts a Switch

[@AG-wq8my]

You missed HSM & Keys component. Please add it in tech flow and explain. Thanks

[@LearnPayments]

Missed purposefully, coz the video was supposed to be short. There are other videos on Payment Switch, and Traditional Authorizations, PIN, CVC where I've spoken of HSM.

[@y.c.breddy3153]

Auth code send merchant to acquirer or issuer to acquirer

[@LearnPayments]

Check this kzbin.info/www/bejne/p5OrfKVtl86Gmck