	Currency Support
	ASx Home
	Download Specification

Settlement and clearing

ASx is supplied with a standard settlement interface that allows settlement and reconciliation with merchants, institutions, devices, networks and interchanges. The ASx system has standard clearing and settlement interfaces to MasterCard International and Visa International. ASx supports both single and dual message clearing formats.

ASx can apply various fees and transaction charges using the rate mark-up facility. Fees can be calculated based upon transaction type, institution, fixed amount or as a percentage of the transaction value. Clearing and settlement parameters can be defined for each individual authorizer through configuration. Matching between an authorization and a clearing record is carried out by ASx. If a match is not found, or the tolerance interval for key fields is exceeded, the transaction is entered into an exception report. The ASx can submit clearing files to obtain the information from the authorization request, if available that is available.

ASx is a non-stop system and continues to operate in a standard way throughout the day, regardless of any settlement or reconciliation activity that may be in progress. Hence, cutover operations by a merchant, institution, network or interchange will not cause ASx to function differently. ASx can continue to process transactions even when a cutover is in progress. Cutover can be initiated by a terminal, an institution on a discrete network, an institution on a shared network (shared by multiple institutions) and by a interchange (processing center). When cutover is triggered by a user via the POS terminal, there can be multiple clearing files generated in any one day, depending upon the number of times the user performs this action. Alternatively, there will usually be only one clearing file when cutover is initiated by an end-of-day batch type process.

Settlement information can be posted to the relevant body using standard electronic methods. ASx can post settlement information electronically either directly to a third-party or to an automated clearing house. Both hardcopy and screen-based settlement and reconciliation reports are available.