Reconciliation is a crucial process for banks when it comes to managing their payment billings and interchange with other banks. It is a process by which banks match, validate and reconcile payment transactions with the corresponding financial records of the networks (Visa and MasterCard) to ensure that all transactions are accurate and complete. Interchange fees are charged […]

The payments ecosystem of a bank is a complex and dynamic environment that is constantly evolving with new technologies, players, and regulations. At the heart of this ecosystem is the bank itself, which acts as a facilitator for the many different types of transactions that occur within it. The bank is responsible for clearing and settling these[…]

The fees charged by Visa and Mastercard to banks for payment processing services are complex for a few reasons that include: 1. Thousands of fee items- Visa and MasterCard bill independently and each network has thousands of different billing codes for different types of transactions, licenses, projects and programs that they charge the banks for. Typically these[…]

As a bank, the fees associated with Visa and MasterCard products and credit and debit card payment processing are complex, and it’s essential to understand what a Bank is paying for.  After all most banks are paying hundreds of millions of dollars to the scheme networks annually (Visa/MasterCard/Amex). One key component of payment processing fees is interchange[…]