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Credit Card
In the world of payment systems, just as credit cards are an indispensable product, a payment scheme is indispensable for credit cards. When a credit card product is launched, the scheme it will be issued under is decided first.
Credit Card
The Effective Date is the information showing the date until which a card can be actively used. It can also be called the expiration date. It is a mandatory field printed on the card and used in transactions, set by banks for card security.
Payment Systems
Although many important terms are used in payment systems, the expressions below are its cornerstones — the ABCs of payment systems, so to speak. Issuer: the credit card company, usually a bank, that issues the card and tracks debt, credit, bonus points, and other services for the customer.
Merchant & POS
The term 'provizyon' comes from French and means obtaining approval for a transaction. In payment systems, authorization confirms that the card, POS, bank account, and transaction limits are sufficient to complete a payment.
Credit Card
DCI (Debit/Credit Indicator) is a flag that shows whether a transaction was made with a credit card or a debit card. With the arrival of prepaid cards, it began to be used as DCPI (Debit/Credit/Prepaid Indicator). Is DCI sent in the authorization message?
Credit Card
BIN stands for Bank Identification Number, the unique code made up of a card's first 6 digits that identifies which bank issued it, under the ISO/IEC 7812 standard.
Credit Card
Most of us remember the impact the first iPhone, introduced by Steve Jobs on January 9, 2007 and revolutionary for its time, had on our lives. In a similar way, a product that will completely change how we use and view credit cards...
Merchant & POS
In e-commerce transactions, the system developed to increase transaction security for payments made with credit and debit cards is called 3D Secure. When paying with 3D Secure, a special payment screen provided by the banks appears on the user's screen.
Merchant & POS
Address Verification Service (AVS) is a fraud prevention system that helps limit fraud and chargebacks when used effectively. It verifies that the address a customer enters matches the cardholder's address on file with the issuer.
Credit Card
Credit cards have replaced cash in daily life. Although preferred for installments and reward points, they offer many benefits when used correctly, but uncontrolled spending and late payments can cause serious problems.
Debit Card
A contactless transaction is a fast, secure payment made between a chip card and a POS device without direct contact, without the card's chip or magnetic data being read through the card reader. Can this be done with a debit card (ATM card)?
Merchant & POS
BKM (Interbank Card Center) shared 2018 developments in card payments and the cashless society goal in Turkey. The data shows card payments becoming a bigger part of daily life every year.