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Levvel Blog - clearXchange Finds New Allies in the Quest For Ubiquity

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For sending banks, the bank processes the CXC transactions as they normally do: look up the receiver, run limit checks, apply fraud controls, and initiate the transaction. However, instead of settling via ACH to the end recipient’s DDA, the bank sends the payment transaction to CXC, which originates the Visa/MC original credit transaction (OCT) on behalf of the sending bank to credit the receivers debit card. Once CXC performs the OCT, it updates the sending bank, which will see its transactions in its normal debit network settlement files.

From Levvel Blog - clearXchange Finds New Allies in the Quest For Ubiquity

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