Introduction to ISO 8583 Message Specification

My almost a decade long experience in Payment domain allowed me to understand financial transactions better. Here I will try my best to provide a simple introduction to ISO 8583 Financial Messaging Standard. ISO 8583 is the standard which being followed by majority of financial transactions. It might appear complex…

Payment Tokenization – Clearing Flow

In the first part of Tokenization articles we covered the basic understanding of tokenization and in the second part we covered the Authorization flow. In this article, we'll dive deeper to understand the clearing flow as part of the transaction lifecycle: The following are the steps : Step 1: Merchant…