The transaction processing services handle issues related to the use of payment cards. These include services such as authentication and transaction processes, services required for the routing of authentication and transaction processes, and clearing and settlement services.  The ACS-based authentication service used for online trading is also part of this service solution.

ACS-based authentication service

Authentication services based on Access Control Servers refer to Verified by Visa and MasterCard SecureCode services with 3-D Secure specifications. This authentication service enables the reliable identification of the cardholder during an online banking session through the use of bank identifiers for online banking or a separate password.

Routing of authentication processes

The routing of authentication processes is a service solution that transmits authentication requests and responses between international payment card organisations, domestic payment card recipients and resellers, and payment card issuers. The routing of authentication processes also includes the STIP service provided for banks by Luottokunta, which allows Luottokunta to respond to authentication requests from merchants on behalf of banks, for example, during temporary interruptions to the service. The service solution helps provide even better customer service to both merchants and cardholders.

Routing of transaction processes

The routing of transaction processes is a service solution that gathers data on payment card transactions from various institutions and systems, and forwards them to the payment card issuers.

Authentication processing

The authentication processing service receives authentication requests sent by international payment card organisations, transaction recipients, or merchants. Responses to the authentication requests are sent on the basis of authentication and verification procedures required by the requests.

Transaction processing

The transaction processing service receives data on transactions, and transfers the payment card transactions and relevant commissions to the card accounts.

Clearing and settlement

Clearing and settlement services include the reconciliation of accounts, and the payment of transactions, commissions and expenses on behalf of the bank to both the international payment card organisations and to the acquirers in Finland.