The clearing and settlement of financial transactions in the SmartVista Back-Office involves the processing of financial messages and transfer of funds between all the participants in the chain. As mentioned earlier on, this includes the following main parties:

In the strict sense of the term, SmartVista is only responsible for the clearing of payments: the actual transfer of funds between Financial Institution occurs through regular interbank channels, such as S.W.I.F.T., via Settlement Banks appointed by Card Schemes. Ultimately, the same principle applies to the settlement with Cardholders and Merchants: their final settlement with the bank is always done through accounts opened for them in the Core Banking or Retail Banking System.