The Clearing and Settlement solution is designed for effective clearing and chargeback operations for VISA and MasterCard clearing. Consequently, any transaction is cleared and settled as quick as possible.

The OCEAN Clearing and Settlement Module provides automation to time-consuming manual processes.  With the OCEAN Clearing and Settlement Module, banks can count on the most advanced, secure, and rapid processing system available. 

Functionality

• Incoming and outgoing clearing file processing
• Rollback for incoming and outgoing processing
• Reconciliation and Reporting
• Interchange Fee and Commission Accounting
• Rejection Processing
• Limit Updates
• Transfer to EOD Cycle
• Reversal Matching
• Safe Outgoing File Processing (MasterCard only)
• Determining Problematic Transaction
• BIN/ARDEF Tables
• Archiving

Benefits

• Parametric and effective clearing and settlement  process management
• Rich report set
• Fully compliant with EMV systems
• Measurable service quality