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The banking and financial institutions? interface to both domestic and international card clearing organisations is one of the most important functions in the day to day card processing. The Interchange and Clearing is probably the most critical and complicated activity in the card business. The financial business must be able to rely on a maintainable, yet expandable, clearing and settlement package. BankWORKS Interchange Clearing Module provides a flexible facility to meet these necessities. The Interchange and Clearing system enables your financial institution to clear and settle card transactions while providing an electronic file based interface to other card or account systems.
 Key Features
The entire module is highly parameterized. It allows customized configuration to fit the needs of a user organization.
Supports the following card organizations:
VISA (BASEII)
EuroPay (ECCF)
Diners Club
American Express
JCB
Proprietary bi-lateral clearing (on request)
Supports the following transaction types:
First presentments
Re-presentments
Chargebacks
Retrieval requests
Fee collections
Miscellaneous charges
Fraud reporting (SAFE)
Data Gateway Visa/Europay format conversion
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