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Payment Engine: File Handler (FS-PE-FH) (Page 243)

This document summarizes the payment processing workflow in a payment engine. It describes importing payment transaction data and processing it through straight-through processing components until exporting items to an account management system. Errors result in exception handling on a semi-automated basis until resolved, allowing straight-through processing to resume. A typical payment processing scenario involves a financial institution receiving a payment file, selecting a format converter to map the data, validating and enriching the information, determining a routing path, and more.

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Pradeep Jagirdar
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79 views2 pages

Payment Engine: File Handler (FS-PE-FH) (Page 243)

This document summarizes the payment processing workflow in a payment engine. It describes importing payment transaction data and processing it through straight-through processing components until exporting items to an account management system. Errors result in exception handling on a semi-automated basis until resolved, allowing straight-through processing to resume. A typical payment processing scenario involves a financial institution receiving a payment file, selecting a format converter to map the data, validating and enriching the information, determining a routing path, and more.

Uploaded by

Pradeep Jagirdar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Use

This process covers the payment processing workflow in Payment Engine: from importing payment transaction data,
to fully automated straight-through processing (STP) in the Payment Processing, Routing Control, and Clearing
Processing components, through to exporting external payment items for forwarding to an account management
system.

STP stops only if errors occur during enrichment and validation and route processing that the system cannot handle
automatically. In this case, the system sends exceptions to Exception Control. Exception handling is semi-automated;
therefore, as soon as an error has been corrected, STP is resumed.

Process

The following steps give an example of a typical payment processing scenario:

1. When a financial institution receives a payment file from a customer, a periodic job or monitoring function
in the file-management software recognizes that there is a new file to be sent to Payment Engine.
For more information, see File Handler (FS-PE-FH) [page 243].
2. Based on the information in the file, such as channel, medium, format, path, and file name, the Input
Manager recognizes and selects the correct format converter. The format converter reads the file, maps the
input format to the Payment Engine metaformat, and stores the payment order in the Payment Engine
database.

For more information, see File Handler Database [page 251] and Input Manager [page 245].

3. The system checks the payment order in terms of formal and referential accuracy, material errors, and

consistency. If required, the system enriches the payment information.


For more information, see Payment Processing (FS-PE-POP) [page 262] and Enrichment and Validation
[page 264].

4. The system sends the ordering party item (the debit side of a credit transfer) to route processing, where a
route is determined. This route is always internal. It can lead directly to the internal account management

Payment Engine (FS-PE)

54 P U B L I C End-to-End Payment Processing

Note

This process is also relevant to cross-border payment processing; however, it does not include the process steps that
are specific to cross-border payments. For more information, see Basic Cross-Border STP [page 57].

Use

This process covers the payment processing workflow in Payment Engine: from importing payment transaction data,
to fully automated straight-through processing (STP) in the Payment Processing, Routing Control, and Clearing
Processing components, through to exporting external payment items for forwarding to an account management
system.

STP stops only if errors occur during enrichment and validation and route processing that the system cannot handle
automatically. In this case, the system sends exceptions to Exception Control. Exception handling is semi-automated;
therefore, as soon as an error has been corrected, STP is resumed.

Process

The following steps give an example of a typical payment processing scenario:


1. When a financial institution receives a payment file from a customer, a periodic job or monitoring function
in the file-management software recognizes that there is a new file to be sent to Payment Engine.
For more information, see File Handler (FS-PE-FH) [page 243].
2. Based on the information in the file, such as channel, medium, format, path, and file name, the Input
Manager recognizes and selects the correct format converter. The format converter reads the file, maps the
input format to the Payment Engine metaformat, and stores the payment order in the Payment Engine
database.

For more information, see File Handler Database [page 251] and Input Manager [page 245].

3. The system checks the payment order in terms of formal and referential accuracy, material errors, and

consistency. If required, the system enriches the payment information.


For more information, see Payment Processing (FS-PE-POP) [page 262] and Enrichment and Validation
[page 264].

4. The system sends the ordering party item (the debit side of a credit transfer) to route processing, where a
route is determined. This route is always internal. It can lead directly to the internal account management

Payment Engine (FS-PE)

54 P U B L I C End-to-End Payment Processing

Note

This process is also relevant to cross-border payment processing; however, it does not include the process steps that
are specific to cross-border payments. For more information, see Basic Cross-Border STP [page 57].

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