How we do it
Visa provides the products and services that make transactions fast, secure and convenient. To do this, we connect the four parties involved in the transaction process:
- You – the merchant
- Your acquiring bank – either directly, or through a third-party processor
- Your customer, or cardholder
- Your customer’s card issuing bank
One of the biggest communications networks in the world, VisaNet is capable of connecting any cardholder’s bank to any merchant’s bank, from any point of sale in the world, at any time.
The payment process
Processing a Visa card transaction involves two stages:- Authorisation
Where an electronic request is generated to either approve or decline the transaction.
The merchant can either submit an authorisation request to the cardholder’s bank, or for many chip and PIN transactions, authorisation can be carried out safely off-line, using the security parameters on the chip. - Clearing and settlement
Where all parties settle their accounts and get paid.
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