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"reconciliation"

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POS payment terminal illustration

Credit Card

What is Dual Messaging?

When the card-issuing bank and the POS bank are different, first obtaining authorization and then running the clearing process to finalize the transaction is called Dual Messaging. So why is a dual message structure needed?

Diagram illustrating how netting works between two banks in the clearing system

Clearing

What Is Netting in the Clearing System?

In payment systems, a transaction made at a merchant or ATM with a card issued by a different bank becomes subject to clearing. Netting offsets each participant's receivables and payables from these transactions into a single balance.