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Animated illustration of a credit card representing dynamic security code technology

Credit Card

What is a Dynamic Card Security Code (CSC)?

It is a CVV2/CVC2 code that changes every few minutes instead of the static code printed on the back of a credit card, aimed at reducing fraud risk in CNP (Card Not Present) transactions.

Contactless card payment at a POS terminal after the limit increase to 250 TL

Merchant & POS

Contactless transaction limit raised to 250 TL

Current information: this article describes the limit in force at the time of publication. To reduce the risk of the coronavirus (Covid-19) spreading, the contactless transaction limit on credit and debit cards was raised to 250 lira.

Diagram showing how an open authorization moves to a card statement after batch close and clearing

Credit Card

What Is an Open Authorization?

In credit card transactions made through a POS, receiving approval alone is not enough for the transaction to post to the card's statement period; settlement must also take place. The settlement period, known as the open-authorization waiting time, varies by transaction type.

Illustration representing credit and debit card fraud

Credit Card

Credit Card/Debit Card Fraud

Credit card fraud is generally committed using the card itself, using card details without the card, via excess or duplicate withdrawals, or by seizing identity information. ATM card trapping is common, since ATMs hold the card during the transaction.

Diagram of a first credential-on-file transaction using stored card data

Security

What is the First Credential-On-File transaction?

The first transaction made after a customer's card data is stored with a merchant is called the First Credential-On-File transaction. BKM expects it to be flagged with the value "C" in switch message field DE48.PDS86, and BRSA draft rules govern how card data may be stored.

Illustration representing an AI agent making purchasing decisions

Agentic Commerce

Agentic Commerce Series – Part 3

Can AI Decide on Our Behalf? Letting an AI agent handle research can make life much easier. The real question is where that should stop, and how much decision-making authority we are ready to hand over.

Illustration representing an AI agent making a payment

Agentic Commerce

Agentic Commerce Series – Part 4

Are We Ready to Give an AI Agent the Authority to Make Payments? Having long looked at complaint and dispute processes in payment systems, I think granting an agent payment authority is far different from research or product selection.

Contactless floor limit, CVM limit and transaction limit example

Merchant & POS

Can a Contactless Transaction Be Online?

Yes. Whether a contactless transaction goes online depends on the limits on the card and the POS: the contactless floor limit, the CVM limit and the contactless transaction limit. A worked example shows how.

POS payment terminal illustration

Credit Card

What is Dual Messaging?

When the card-issuing bank and the POS bank are different, first obtaining authorization and then running the clearing process to finalize the transaction is called Dual Messaging. So why is a dual message structure needed?

Diagram showing an authorized card transaction that expires before reaching the clearing file

Credit Card

What does it mean for a card transaction to expire?

Due to how payment systems work, authorization is obtained for a transaction first. For a Not Onus transaction (different card and POS banks), the system waits for it to arrive via the clearing incoming file. If it does not arrive within about a week, the transaction expires.

Illustration representing MCC codes used to classify merchants by category

Merchant & POS

What Is an MCC Code Used For?

Since the MCC code is a merchant's category code, it's critical for the checks performed during merchant onboarding and authorization, including campaigns and restrictions.