Visa card transactions are quick, convenient and secure. But what exactly happens during the process? Beyond you and your customer, Visa’s advanced network involves several different parties. Here is a quick glimpse of Visa in action.
The following definitions will give you a good understanding of who's who in the Visa transaction process.
Processing a Visa card transaction involves two stages:
An electronic request is sent through various parties to either approve or decline a transaction.
Clearing and Settlement:
All parties settle their accounts and get paid.
Scroll over the icons in the charts below for a brief explanation of each step in the transaction process.
Roll over the icons below for a brief explanation of each step in the transaction process.
Confused by any terms? Visit our Merchant Glossary.