30 Apr A high level on how card acquiring works for online payment across Africa


Card acquiring for online payment across Africa

  • Card acquiring 
  • Mastercard and Visa . . 
  • Authenticate 3D secure, 
  • Authorise, 
  • Then if successful our system writes a settlement file
  • It creates a batch with transactions for the calendar day
  • And sends the settlement batch through to the bank
  • Depending on the bank and country, we receive a deposit to our aggregator account at the bank between 2 and 5 business days after  . . this is called T+2 or T+5
  • We pay out the merchant wherever they are in the world every Thursday for transactions up to the previous Thursday
  • We can implement a velocity check at no charge to prevent multiple transactions
  • Our system will not let duplicate transactions go through.  
  • Where we don’t get a response from our authorisation sent through to the bank, our system sends a system reversal.  For banks that support it, the authorisation sent through will be reversed. 
  • Our system reconciles authorisations to settlements to make sure they match, and then our settlement batches to deposits received from the bank to make sure we got paid for every settlement and can pay the merchant out the correct amount.