When configured for a processing centre (Switch), SELECT System® can manage several banks, each with its own payment system and functionalities.
In addition to access to the switch services, it allows full or partial access to other services offered by the centre, such as:
- issuing management
- acquisition management
- private compensation management for banks that do not have a payment system
- managing compensation and settlements between the centre’s member banks
- compensation with international payment associations (VISA, MasterCard, AMEX, etc.)
- managing chargeback
- centralised fraud management.
The centre can also be equipped with the authorisation module operating in Stand-In mode to process transactions that involve the following cards: charge cards, revolving-credit cards, and pre-paid cards. Bank compensation and settlement are carried out by the centre. Each institution receives the settlement results drawn up by SELECT System®, which carries out watertight management of services offered to banks. That functionality is made possible because all the reference data are multibank in nature.