SMS Vs DMS
I swipe my Credit Card at POS terminal, it took two days for reflecting the balance on my card account. On the same day I have performed a transaction using my Debit Card at ATM machine and the balance got impacted immediately. Why we have difference in both transaction processing? How does it work? This happened due the different messaging system used by the associations. Most of the associations are using SMS and DMS both for Transaction processing. Single Message System and Dual Message System these are the two ways for processing the card payment transactions. In Dual Message System we first get authorization transaction from the association, on the approval of this transaction issuer can block card holders Open To Buy (OTB) only. At the end of processing day or the cut off time defined by association, issuer gets another message in form of clearing file. On the processing of this file issuer will impact the balances of card holder and release the blocked OTB. SMS Vs DMS If we...