The TapToPay Central Computer System supports clearing and settlement for multiple service providers, card issuers and acquirers, as is necessary in a multi-application system.
The Operation Flow of an AFC system goes through five major steps:
- Generation of Electronic Money (E-Money)
- Reloading E-Money onto AFC Cards
- Debiting E-Money inside AFC Cards for payment
- Upload of transactions and data exchange
- Clearing and Settlement