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About igor784hg
Every modern person, starting as a Junior high school student, ending with a pensioner, has a Bank card. All these cards are issued by different banks and for different purposes. But there is one thing that unites them the payment system.

What is a payment system, what is it for and how does it work?

The payment system is a complex of various financial services and subsystems thanks to which there are mutual settlements between banking institutions. To study the issue in more detail, it is necessary to know the difference between the issuing Bank and the acquiring Bank.

Issuing Bank the financial institution to which Your Bank card belongs (everyone who has a Bank card is its holder, and the owner is the Bank).

Acquirer Bank is a financial institution through which all non-cash payments are made, both in UAH and in another currency. It is very simple to determine the acquiring Bank-it is enough to carefully consider the ATM or terminal You used for logos.

The payment system "begins" to work at the moment when contactless payment is carried out. We can say that it acts as an intermediary between the acquirer and the Issuer. This does not affect the speed and quality of customer service.

How is the money debited from the card?

Have you ever thought about how to withdraw money from card accounts? How many operations and calculations should the system perform in order to calculate a certain account and, moreover, pull up all the data about the cardholder excluding the possibility of hacking?

According to the Manager for the development of Visa payment card acceptance network in South-Eastern Europe and the CIS Igor Nochki, one payment, transaction or simply a transaction consists of many information fields, the number of which reaches 200. Here you can find all the information you need to make a payment, from the amount on the cardholder's account to the information about the company to which the funds are transferred.

Going abroad with a hryvnia card, You can make purchases, but only taking into account the exchange rate. This does not mean that you need to wander around London or Paris in search of an exchanger to get acquainted with the course. It's easier.

What is the difference between Visa and Mastercard?
So do not be surprised that the card will be charged more or less money it's all about conversion. Regardless of which payment system your card belongs to, the conversion will be carried out on the same principle.

Payment system the guarantor of security

Both payment systems with which banks operate have their own security system-Verified by Visa and Mastercard Secure, but there is a common Protocol PCI DSS, developed by the Council of these and other payment systems.


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02-27-2019 07:51 AM
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