8 docs tagged with "Payment Processing"

In this integration mode, Open Fabric converts network events into ledger operations (debit/credit/hold/release) and calls your backend via API to apply them. You do not need to download or process clearing files.

Open Fabric forwards real-time authorization messages to your backend for an approval/decline decision. These requests must be handled in sub-second time to avoid network timeouts and customer-facing declines.

Chargebacks are a network dispute process (fraud/unauthorized, overcharge, goods not as described, etc.). You typically initiate chargebacks when you and the merchant cannot resolve a dispute directly.

Clearing is the process where the network requests funds movement for previously-authorized transactions. Clearing is provided in batches (multiple times per day).

Overview

In this integration mode, you integrate closer to the card network lifecycle.

The network may reverse a previously-approved authorization (for example, due to timeout/technical failure, or a merchant reversal). When Open Fabric receives these events, we forward them to you as reversal notifications.

Settlement is where the network settles net amounts between your settlement account(s) and the network. Settlement is typically generated once per day per settlement account / currency.