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Visa VSS and Settlement and Reconciliation

Overview:

Introduction:

Visa VSS (Visa Settlement Service) is a crucial platform for managing the settlement and reconciliation of transactions within the Visa payment network. It ensures accuracy, efficiency, and transparency in processing financial transactions across global markets. This training program is designed to provide participants with a comprehensive knowledge on Visa VSS, its settlement processes, and effective reconciliation techniques for managing transaction flows.

Program Objectives:

By the end of this program, participants will be able to:

  • Identify the components and workflows of Visa Settlement Service (VSS).

  • Analyze and interpret settlement reports to support financial operations.

  • Evaluate reconciliation processes and address discrepancies effectively.

  • Develop frameworks for proactive exception management in settlements.

  • Optimize settlement and reconciliation processes for enhanced efficiency.

Targeted Audience:

  • Banking and financial services professionals involved in transaction processing.

  • Payment operations managers and reconciliation specialists.

  • Financial analysts and accountants in the payments sector.

  • IT and operations personnel responsible for payment systems.

  • Professionals seeking to enhance their knowledge of Visa settlement mechanisms.

Program Outline:

Unit 1:

Visa Settlement Service (VSS):

  • Overview of VSS and its role in the payments ecosystem.

  • Components and workflows of the VSS process.

  • Key terminologies and concepts in Visa settlement.

  • Exploring VSS reporting tools and functionalities.

  • Benefits of VSS in enhancing financial operations.

Unit 2:

Settlement Reporting and Analysis:

  • Overview of settlement reports and their structure.

  • Using financial and settlement position reports effectively.

  • Techniques for interpreting key data points in VisaNet settlement files.

  • Tools for monitoring and analyzing settlement activity.

  • Utilizing reports for strategic financial decision-making.

Unit 3:

Reconciliation Fundamentals:

  • Principles and objectives of transaction reconciliation.

  • Steps in the reconciliation process for Visa transactions.

  • Common challenges and discrepancies in reconciliation.

  • Tools and techniques for efficient reconciliation.

Unit 4:

Dispute Resolution and Exception Management:

  • Tools for identifying and resolving common settlement discrepancies.

  • Visa dispute and chargeback process overview.

  • Techniques for managing settlement exceptions.

  • How to develop a framework for proactive exception management.

  • Strategies for minimizing reconciliation discrepancies.

Unit 5:

Settlement and Reconciliation:

  • Compliance requirements and industry standards.

  • Importance of leveraging technology for process automation.

  • Establishing robust internal controls and auditing procedures on regular bases.

  • Continuous improvement strategies for settlement processes.

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