Drilling a bit further, Marqeta’s role as an issuer processor INCLUDES the following key areas:
Raw Settlement Reports
The raw reports that come from merchants via the networks that collate transactions from those merchants your customers have spent at and needs to be verified against the actual authorisations given.
Clearing and Settlement Reports
Clearing – The process of exchanging financial transaction details between an acquirer and an issuer to facilitate posting of a cardholder’s account and reconciliation of a customer’s settlement position.
Settlement – The process by which the network (scheme) facilitates the exchange of funds on behalf of issuers and acquirers.
Authorisation
The transaction authorisations for POS transactions, online and e-commerce transactions, ATM transactions, etc. (Via end-point connections to both Visa and Mastercard.)
Batch Clearing
Transactions for the clearing process are handled in large batches for efficiency rather than handled individually which we process for clients.
Daily Batched Cards
Report sent to the card fulfilment bureau to provide a notification file of physical cards to be printed and sent to your cardholders.
API
Programming Interfaces between our applications and yours provides a much easier framework to communicate requests and makes changes much easier to implement in the future. You can look through our Core APIs are
here.