Frameworx Application: Payment Settlement

Category: (3) TAM Application Type

Application Identifier: 5.9.4.3

Maturity Level: 4

Overview

Payment Settlement submits authorized transactions from the service provider to the financial institution and provides reconciliation support.

Functionality

Payment Settlement performs the following:

·         Submits authorised transactions to the financial institutions for settlement.

·         Supports the reconciliation process with financial institutions

Supported Business Services

(3) TAM Application Type Payment Settlement

Appears on these diagrams:

• 5.9.4 Payment Management

Issues

• Application Framework 12.0 Addition

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