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Merchant & POS
An imprinter is the name given to devices that transfer all the information embossed on a credit card onto a paper sales receipt. Before POS terminals, it was commonly used by merchants for authorization transactions.
Credit Card
Digitalization is reshaping payment systems. Credit cards are moving from physical plastic to virtual cards, e-wallets and mobile payments. Will physical card use disappear completely? Here is a look at the trends, Generation Z and the remaining gaps.
Credit Card
The following steps should be followed when launching a new product: decide on the brand, request a new BIN from the scheme (Mastercard, Visa, Troy), define the BIN in the bank's system, generate keys in the HSM, and roll it out after certification.
ATM
Suppose you are a newly established bank, wanting to offer customers all your products and services. Of course, this is not easy. First, the Bank's OnUs transaction processing step must run successfully before other banks' cards can be accepted at the ATMs.
HCE
An international standard that defines proximity cards used in Near Field Communication (NFC) and the protocols used to communicate with them. It has 4 parts; Part 4 covers NFC and HCE operations.
Merchant & POS
The PCI Security Standards Council (PCI SSC), founded in 2006 by Amex, Discover, JCB, Mastercard and Visa, has shared its data security and testing standard for accepting contactless payments on smartphones and tablets without extra hardware.
Merchant & POS
No slip printed after a POS transaction? Here's how to check whether the transaction actually went through and what steps to take if the receipt never came out.
Merchant & POS
PIN Transaction Security (PTS) verifies that card data and PIN information are used for a payment transaction. It is a set of modular evaluation requirements managed by the PCI Security Standards Council for PIN-accepting terminals.
ISO 8583
DE 38 (AUTHORIZATION IDENTIFICATION RESPONSE) is the authorization code generated when a transaction is approved. It is alphanumeric, 6 characters long, and left empty for declined transactions.
HSM & Security
TMK stands for Terminal Master Key, a key-encrypting key distributed manually or automatically under a previously established TMK. It is used to distribute data encryption keys to an ATM or POS terminal within a local network.
Clearing
In payment systems, a transaction made at a merchant or ATM with a card issued by a different bank becomes subject to clearing. Netting offsets each participant's receivables and payables from these transactions into a single balance.
Merchant & POS
For a transaction to go through clearing, the card-issuing bank and the merchant bank must be different. If they are the same, the transaction is not subject to clearing and is processed directly by the bank.