-Sivashankar

VisaNET

Why

Compliance?

Spectrum

- Visa Compliance process -Visa interchange processing

Spectrum

 VisaNet

is the Visa transaction processing network.

VisaNet

supports Purchase, cash, and bill payment transactions Recurring payment transactions, as well as prepaid card transactions ATM transactions, Purchase and cash transactions made with other private-label and proprietary cards.

 Authorization

Clearing

Settlement

Transactions can be authorized, cleared, and settled either as dual-message or single-message transactions A dual-message transaction is sent twice, the first time with only the information needed for an authorization decision, and again later with additional information required for clearing and settlement. Typically, authorization is performed online while clearing and settlement occur later offline. A single-message transaction is sent once for authorization and contains clearing and settlement information as well as authorization information. These transactions are also called full financial transactions. Typically, authorization and clearing occur online, while settlement occurs later offline.

The main components of VisaNet are: VisaNet Interchange Centers (VICs). VisaNet Access Points (VAPs) and other network connections. Processing centers.

Acquirer Processing center

VAP VIC

VAP

Issuer processing center

VIC

VIC

Processing center VIC VIC

Processing center

The VICs house the following VisaNet systems that provide both online and offline transaction processing:
The VisaNet Integrated Payment (V.I.P.) System, which includes the

BASE I System and the Single Message System (SMS).

The BASE II System. The VisaNet Settlement Service (VSS).

Authorization

AA BASE I

Clearing

BASE II

Single Message System (SMS)

Settlement

VisaNet Settlement Service(VSS)

POS Acquirer VisaNet Issuer

Request Response ATM

Once in 6 months Visa will enhance their transaction processing facility to support new products and to provide a better transaction processing facility to all the member banks. All the member banks of Visa must comply with changes which Visa announces. Release date Will be in the month of April and October

Spectrum is a issuing processing system Spectrum clients are members of Visa so they have to comply with Visa regulations. HP commercial cards services representative (BA) will be attending the Webinar hosted by Visa to understand the business enhancements made by Visa. BA will create requirement document and schedules a BD review meeting Spectrum cards processing system uses Guidance product for authorizations hence the changes related to BASE I will be taken care by Guidance team Spectrum IAs need to research the impacts of BASE II changes and enhance Spectrum system accordingly.

To Be Continued