The Rules in this guide relate to the processing of Transactions and Payment Transactions made with Mastercard-branded cards.
In the document:
Transaction means a transaction resulting from the use of a Mastercard®, Maestro® or Cirrus® Card, Access Device or Account, as applicable.
Payment Transaction means a Payment Transfer Activity transaction that transfers funds to an account.
A Payment Transaction is not a refund (credit) type transaction that reverses a previously made purchase (MoneySend Payment Transactions, Gaming Payment Transactions and China Funds Transfer Payment Transactions).
For the purposes of the Standards applied to Payment Transactions, the Issuer refers to the Receiving Institution (RI) and the Acquirer refers to the Originating Institution (OI).
You can access the document from the link below:
Who needs the guide?
The product and software teams of acquiring and issuing banks design their transaction flows according to these rules. Scheme rules are binding on matters such as authorization, clearing, refunds, disputes and payment transfers.
The guide is updated periodically, so software releases and operating procedures should be reviewed after each update.
The document is usually accessed through the scheme's members-only portal. Some summary information may be publicly available to non-members.
