Clearing is the process of exchanging financial transaction details between an acquirer and an issuer to facilitate the posting of a cardholder’s account and the reconciliation of a customer’s settlement position. Clearing encompasses all processes and activities from the time a commitment of a transaction is made until it is settled.
Clearing is necessary for the matching of all buy and sell orders in the market. It provides smoother and more efficient markets, as parties can make transfers to the clearing corporation, rather than to each individual party with whom they have transacted.
A clearing bank is a commercial bank who can clear cheques for it’s clients regardless of whether the cheques originated from that same bank or not.
Payment Processing Services by NOIRE PAY
NOIRE PAY & NOIRE provides industry leading online payment processing services & risk management technologies. Designed using NOIRE PAY’s, “Simply Switch On”, approach to payment processing, our payment solutions are built using the latest payment processing technology enabling businesses to “Plug In” and “Switch On” payment modules with ease if and when required.
As a leading Payment Service Provider, you can trust NOIRE PAY to find the right solution for your business. We provide everything in one simple agreement – your Internet Merchant Account, Payment Gateway and Payment Processing with all the leading cards issuers. Combined with NOIRE’s industry leading fraud & risk management solutions, merchants can be confident managing their payments safely and securely from beginning to end with NOIRE PAY.
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