Home Products TranzWare Interchange

The contemporary electronic payment environment is proving to be increasingly complex, where interchange and clearing processes are especially complicated, yet, are perhaps, some of the most crucial activities. To stay efficient, productive and competitive, financial institutions require robust, comprehensive and maintainable transaction interchange solutions that automate a great number of back office activities, thus, increasing productivity and reducing interchange costs.

TranzWare Interchange boasts great functionality, automates a variety of interchange functions, adeptly processes large volumes of data, and provides efficient clearing and settlement of electronic transactions. Not only is it capable of  satisfying the interchange needs of a financial institution’s operation in a complex environment, it is also highly adaptable and delivers efficiency to a financial institution operating in a relatively confined and simple environment. The product contains a number of built-in interchange schemes as well as being equipped with mechanisms for creating and supporting payment systems of any complexity.

TranzWare Interchange was specifically designed in order to be implemented in diverse operating environments, where:

–	the bank is the principal member of an international payment system (fulfilment of clearing functions with a payment system only)
–	the bank is a sponsor (clearing and settlement with payment systems and agent banks)
–	an organization is a clearing house and head of payment network (clearing and settlement with external payment systems, other clearing houses, member banks, agent banks, etc.)

In addition, TranzWare Interchange can perform internal clearing in a multi-branch bank or even be implemented to facilitate effective interaction - collection, processing and distribution of clearing files between several different systems at one financial institution.

TranzWare Interchange allows dispute processing and management (for example, a bank-sponsor can manage disputes on its agent banks’ requests) and provides facilities for controlling risks associated with interchange (for example, in case suspicious transactions occur a bank-sponsor can delay clearing and settlement with its agents). The product also supports commissioning, currency conversion and offers an extensive set of reports.

TranzWare Interchange provides flexible user-friendly apparatus for defining the business rules and logic of payment system member interactions and also allows to assign each member of an interchange system their individual timetable for data clearing and settlement (including near real time settlement). Whilst the latter gives a great flexibility advantage and allows for more efficient and effective operation, the ability to customise the product delivers a competitive advantage.

Association (Sponsored)		Association (Controlled)
* Settlement data flow when a payment system prepares settlement files for banks-agents

TranzWare Interchange Benefits

For a detailed list of features and further information please download the brochure or contact us.