How Card Payments Work | Authorisation - Authentication - Settlement

[@Tom-jt1rv]

Great videos Kieran, I love the short explanation and illustrative style.

[@KINGCADEMY]

As always its a pleasure Tom. Got one on SEIS for you as requested in the pipeline, stay tuned! :)

[@sanandvergin]

Awesome explanation brother

[@001yinkus]

Nicely done

[@NtrovertMpostor]

Hello amazing detailed explanation! what if the pre-auth amount is higher than the agreed payment? how to disputes this if the issuing bank insists the merchant charged and processed the pre-auth amount?

[@jeremiahaondoakaa5077]

You rock

[@Cubito2019]

Not entirely correct. Authentication is an anti-fraud mechanism that validates cardholder/purchaser identify AHEAD of the transaction taking place, therefore it comes before Authorisation. Authorisation includes both the Auth request (merchant>Acq>Network>Issuer) and the Auth response (the auth request in reverse). The card network doesn't approve the transaction, thats the issuers role - to protect and manage the funds on the cardholders behalf. The network does add mulitple layers of fraud assessment and protection, but that information (likely fraud/not fraud) is essentially given to the issuer to decide what to do with as they each have different risk thresholds for different cardholders and multiple other decisioning factors. You got settlement about right though.

[@ynacastillo]

THank you.

[@avikdey6818]

Will customers get their refunds when there is hold or delay for so long for 45days

[@avikdey6818]

Is there any chances of frauds ??

[@IcarianX]

Very nice video! I do have some questions though: At kzbin.info/www/bejne/gXPOoH-af5Zjl8U Does the card association approve the payment before the request is sent to the issuing bank? And before authorization or authentication? It seems kind of strange that the approval would happen before checking funds or authenticating. Maybe I'm just misunderstanding?

[@KINGCADEMY]

Hi joe. Thanks for your question. Its only approving that particular stage of the payment process. Apologies if this is unclear, I know I said 'approves the payment' which may be confusing.

[@yukanthanimmortal7326]

Great content brother !! Do you have a discord or telegram Channel so that we as a community can discuss about ? Waiting for your reply brother ! May the economy be with you!!!!!

[@KINGCADEMY]

Hi Yukanthan! I don't yet but sounds like a great idea. If you want you can susbcribe to my website and I'll let you know when I set up something like that. www.kingcademy.com :)

[@avikdey6818]

It's all almighty god's cosmic web-n control from telepathy humans or machines can't do anything that dimension of INTELLEGENCE allow all cosmic matters anti matters to do it's karma /actions step by step series of events..cosmic web/internet /intranet/ethernet /mayajal-memory/psychology