Routing is the process by which the destination of a received payment is found.
Routing must assign each Transaction an Outgoing Clearing Condition.
Routing will also assign an Outgoing Business Participant and an Outgoing Settlement Participant.
Routing determines whether a Transaction is on-us or not on-us.
Routing relies on anordered list of “Routing Rules”, which can be of two types:
“Criteria Based”: certain attributes of the Transaction are compared with attributes of the Exchange Condition. If all criteria matched, the Transaction is routed to the Exchange Condition. For instance: Currency, Maximum Amount, Destination Bank Code.
“Algorithm Based”: the Routing Rule consists of code developed by customization team, which, for a Transaction received as parameter, will return the Outgoing Clearing Condition
Each Routing Rule is evaluated up until a Clearing Condition is found.
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