Clearing is the process of exchanging transaction information between the merchant’s acquiring bank and the customer’s issuing bank to settle a payment. It occurs after the authorisation step and leads to the final settlement of the payment.
In travel, clearing plays a critical role in ensuring that payments made by customers for bookings, flights, and hotels are accurately transmitted between financial institutions. Once a traveler pays for a service (e.g., flight booking), clearing ensures that both the travel company and the bank communicate the transaction details and approve the transfer of funds.
Clearing can be delayed for international transactions due to time zone differences or cross-border regulations. For travel businesses, particularly those with international clients, choosing payment processors with robust clearing systems is important to avoid delays in receiving funds.
Felloh streamlines the clearing process by integrating with multiple acquiring and issuing banks, ensuring that payments are efficiently exchanged and settled. For international transactions, Felloh's platform reduces delays by managing cross-border complexities, making the clearing process smoother for travel companies with global clients. With real-time transaction monitoring and reporting, Felloh helps businesses stay on top of their cash flow, ensuring timely receipt of funds even for high-volume, cross-border payments.
Felloh can process transactions across multiple merchant acquirers for a single business. With deep integrations across several providers, Felloh offers consistent data output and manages all front-end payment logic, allowing you to integrate once while gaining access to multiple acquirers.
