Cards and Payments | Part 7 | What is Payments Authorisation and ISO8583 Messaging

Hi Friends , In this video we discuss in detail about the payments authorisation process i.e. what happens when you swipe your debit or credit card at a POS machine and you receive approval receipt for your transaction.
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Links to the websites for ISO8583 reference :
www.iso.org/obp/ui/#iso:std:i...
en.wikipedia.org/wiki/ISO_8583
www.mastercard.com/switching-...

[@SuperYou39]

thanks for explaining the details of 'payment authorisation cycle', in a simple manner.

[@iqbalahmed3048]

Thank you for your lovely and simple presentation !

[@blueshasuperstar]

Thanks for the insightful video. Can you also put some more light on the infrastructure / types of connections being used for the ISO8583 message transmission

[@SAURABH4731]

Thanks for the insightful video!

[@aritchak]

Very informative video. Thanks for sharing.

[@beetlebut]

Lovely, easy to understand Video series. Thanks

[@vinaykumarreddy6582]

Thanks for such a detailed explanation Saurabh. Really informative. Would love to see more videos on emerging trends in payments.

[@amazuddin1579]

Good content for me as a new comer in this industry.

[@sparshkapoor8517]

Awesome!!

[@IgorParkhomenko]

Thank you for taking the time for the KZbin to share your knowledge, Saurabh!

[@ezeefied]

Thank you Igor 😊

[@chetnajamthe6199]

The presentation is very rich. Please do create a presentation on ISO20022 and its benefits. Also how it is used for cards, domestic payments and international swift payments

[@raginidubey3764]

You channel content is superb, easy to understand and voice is so clear that it automatically catch the attention. Long way to go! Keep posting.

[@ezeefied]

Thank you for your kind and encouraging words Ragini

[@kiranppotluri]

Thank you so very much Saurabh. These are very Informative Sessions :)

[@ezeefied]

Thank you Kiran. Glad you liked it

[@avm6609]

Hi Saurabh, The videos on payments are really amazing. Could you please do a video on ISO20022 which will be helpful for us. Thanks a lot for the videos.

[@roystongons]

Very insightful , Thank you . Also in the ISO8583 there could be a gpay/upi/imps payment done instead of card so wht comes in the DE ? like in case of card its 16||cardno . Also how is ISO8583 got refurbished in ISO20022 . like MT to PACS in ISO20022 .

[@1011vaibhav]

This is really helpful Saurabh, thanks alot for sharing. Actually, I'm facing issue to manage Operations team's side requirement management for migration to 20022 for Investment Banking... im really look forward to seeing deep through the videos which can help PO and BAs to prepare Test Plan and have right approach for the migration projects execution.

[@sasirekha769]

Thanks you for this video.. also keen to learn about iso8538 and iso20022 format. So please make a video of it

[@karanvoh]

Thanks!

[@4the16ameyakhandagale3]

thank you

[@gosayezenebebeyene3280]

Subscribe is very easy for this great work.Thank you Saurabh.

[@ezeefied]

Thank you Gosaye 😊🙏🏽

[@nickrosener3581]

HI Saurabh - fantastic summary here, thanks so much for sharing. One piece of feedback: keep an eye out for gender bias in this series. Whenever you mention people shopping, they're usually "she", and whenever you mention bankers, merchants, etc. they're always "he." You might consider balancing these to be more equitable.

[@ezeefied]

Point taken

[@prithviraj2181]

Your 520th subscriber here. Can we have a video on different types of payments-Retail/Business banking varying from immediate payments to bulk payments and how they are cleared/settled. Also if this could be mapped to a NEFT/RTGS/UPI payments which we see in India that would help. Understand the nomenclature might be different in UK

[@ezeefied]

Thank you for subscribing Prithvi . I will add that topic to the list and try to cover in future videos !

[@mandeepchawla2248]

Hello Saurabh, Many thanks for sharing your knowledge through these videos. You have used the word schemes throughout this video. Can you please explain its meaning in context of payments?

[@ezeefied]

Scheme is the card network - visa , MasterCard etc.

[@rahulshahi2006]

Hi @saurabh , thanks for the great videos . May I know if there is a very structured training video / link you would know to penetrate into cards and payment industry? I am going through all your videos, post that how to deep dive further? Please advise

[@ezeefied]

Hi Rahul, Thanks for writing in. Payments is an extremely niche area and I am not sure if there any in depth professional courses. There are certain certifications that I have covered in one of my videos though.All the best, Saurabh

[@rahulken99]

Thanks Saurabh. This video is so informative. If possible can you please make video on ISO20022.

[@ezeefied]

Yes it is in the list. Hopefully sometime soon

[@shyamnarayan6788]

Thank you sir. Can you please make a separate video for ISO20022 messaging.

[@ezeefied]

Will try for sure

[@78naga]

Awesome payments videos , can you please make video on ISO20022 end to end and need for it and differences ISO8583 and ISO20022 as well

[@ezeefied]

Yes that topic is something I am planning to cover soon

[@user-pp8kz7ii9z]

Hi Sir, does every block of data elements.its a rule that first 2 digits will represent length of data element just in case of DE-2 you said is 16 following the next one de-7 the first 2 digits will also represent the de length ...is my understanding is correct??

[@beatrizrocha811]

Thank you very much for your work Saurabh! Will you share about crypto payments? Thanks again!

[@ezeefied]

Thank you Beatriz. Yeah crypto is something that I plan to cover in future :) . Is there anything in particular you are after ?

[@beatrizrocha811]

@@ezeefied good to know that! I would be interested in crypto payment gateways. thank you for your sharings

[@delhiguy0007]

Please do create a presentation on ISO20022, how does it differ from ISO20022 Corporate Actions

[@ashokmetha3373]

Hi Saurabh , last 2 days you videos has been of great great great him Its like a Payments Bible. I attend EY interview yesterday , however interviews seems to be not convinced with this explanation in video, not sure about the reason. 1) Is there anything like Payments Authentication process ? The Q asked was for authorization and I explained about concepts in video. But Is there anything like Payments Authentication process. 2) 1 Q asked was what was the technical reasons where a credit card can be declined. ( I said when account is charged-off for 180 days , card will get declined) may I know any other technical reasons please. Thanks a lot for all your videos with extreme clear explanation of concepts.

[@ezeefied]

It could be anything like a no reason to decline which has a specific error code . There could be any other communication error also

[@sku796]

12:13 How to put the "2" into single bit?

[@anjaliupgade3414]

Please help me with the white plastic certification and BEPG Host related vedios

[@susha1356]

Hi Saurabh, thanks for sharing the content. Can I contact you for questions that I have. I have project specific questions

[@ezeefied]

Hello , unfortunately my current work commitments are extremely demanding so I may not be able to help with project specific queries but please post your queries and I will try to pick them up as soon as possible . Thank you . Keep supporting !

[@avm6609]

Hi Saurabh, What is the difference between transmission date&time and Local date & local time. Why we need to use both in the iso messages.

[@ezeefied]

Those could vary . Typically local time stamps are when the transaction happened locally in a geography and the other could be when the system received or processed it .

[@avm6609]

@@ezeefied - Thank you for the response.

[@raj-df5df]

Pls create video on iso20022

[@ezeefied]

On it

[@gauravlal9202]

Do you have this information documented. I need that

[@ezeefied]

No unfortunately, it’s just on the basis of experience and online research that I make these videos

[@gauravlal9202]

I need your help

[@ezeefied]

Responded