Clearing & Settlement System

STraffic’s Clearing and Settlement Solution collects all transaction records in real-time from contactless terminals, mobile phones, and retail shops in public transportation and settles these seamlessly and accurately among all operators. Operators and customers using the web or a mobile applications can easily access data captured by the settlement system can easily check the maintenance, usage status, and account balances and usage.

STraffic also offers an Open Standards Fare Payment Solution that supports the use of bank cards, prepaid cards and other modes of fare payment using standard bankcard applications that comply with financial service industry standards. With the acceptance of bank cards at transit agencies and other mobility service providers, riders can simply tap their contactless debit or credit cards directly to the validators when using public transportation. There is no need to purchase tickets, and transaction will be processed in real-time the same speed and accuracy as when someone shops on-line or at retail stores. STraffic’s Open Payments Solutions support the full-range of functionalities required by credit and debit processors, as well transit specific functions that support riders and transit agencies in assuring a reliable, accurate payment experience, for example:
Financial reconciliation through capture of processing and posting details of each transaction;

  • Exception processing through capture of processing, settlement, and posting details of each transaction;
  • Authorization tracking and control through capture of all requests and responses;
  • Clearing and processing reconciliation for banks, merchant acquirers, and all other entities;
  • Reconciliation of Single Trips (PAYG) settlement and clearing details through one-to-one matching of transactions;
  • Pre-funded account activity tracking and management, including activities by customers or Customer Agents; and
  • Tracking of all hot-listing activity by source of hotlist action and management of refunds to customers and all configuration;
Clearing & Settlement System