The clearing system is a system that enables the clearing and settlement of a transaction between two participants when a card belonging to one participant (usually a bank) is used at the POS or ATM of a different participant.
In the clearing system, regardless of the clearing type (BKM, Mastercard, Visa, etc.), there are basically two types of files that make up the clearing process:
- Outgoing File
- Incoming File
Outgoing File: This is the file that sends all transactions made with other banks' cards through the POS/ATM bank to BKM, Mastercard, Visa, or the relevant card scheme, depending on the card's type and source.
Incoming File: All files sent to BKM, Mastercard, Visa, or the relevant card scheme are forwarded to the BKM, Mastercard, or Visa pool. After these files are processed, they are sent to the card-issuing bank as an Incoming File.
In short, the outgoing file is generated by the acquirer (the POS/ATM bank), and the incoming file is accepted by the issuer (the card-issuing bank) and loaded into the system.
Transactions forwarded to the issuer bank via the incoming file are reflected in the card's current-period transaction history.
Transactions made with the card that have not yet arrived through clearing appear among the card's open authorization transactions.
