Clearing and settlement of interbank card transactions: a MasterCard tutorial for Federal Reserve payments analysts

Susan Herbst-Murphy

No 13-02, Consumer Finance Institute discussion papers from Federal Reserve Bank of Philadelphia

Abstract: The Payment Cards Center organized a meeting at which senior officials from MasterCard shared information with Federal Reserve System payments analysts about the clearing and settlement functions that MasterCard performs for its client banks. These functions involve the transfer of information pertaining to card-based transactions (clearing) and the exchange of monetary value (settlement) that takes place between the banks whose customers are cardholders and those banks whose customers are card-accepting. This document summarizes some of the key points from that meeting.

Keywords: Risk; management (search for similar items in EconPapers)
Date: 2013
New Economics Papers: this item is included in nep-ban
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