THE SETTLEMENT JOURNEY.

I AUTHORISATION III THE RAINY DAYS

The approval beep only held the funds. This is part two: the same A$84.20 leaving the merchant’s end-of-day batch, priced by BASE II, netted by VSS, and landing as real money two days later.

SCENARIO Clearing & settlement · the same transaction, after the beep//ROUTE 06 sectors · records out & money home//SOURCES Visa Core Rules · BASE II & VSS public guides · RBA

This interactive explainer follows a card payment after authorisation: the merchant's end-of-day batch travels through the acquirer into BASE II, Visa's batch clearing system, where interchange is calculated and records are distributed to the issuer. VSS then nets every bank's obligations into one position per currency, settlement banks move the funds, and the merchant is paid the gross amount minus the merchant service fee. JavaScript is required for the animated journey.

The authorisation route

SYSTEM // ROUTESTATUS LIVECLOCK T+0 21:58

READY

Press transmit to close the batch and start the clearing run.

Sector detail: gates cleared, systems engaged, message stream

SYSTEM // SECTOR DETAILSTOP 00/11REQUEST

At this sectorREQ

Systems engaged

The moneyAUD

SPACE PLAY/PAUSE · ←/→ STEP · CLICK ANY SECTOR TO JUMP

PART TWO OF THE TRANSACTION JOURNEY · PART ONE COVERED AUTHORISATION · PART THREE COVERS THE RAINY DAYS

The payments ecosystem reference

▸ The ecosystem every system in this flow, and the adjacent ones, with the job each does