Merchant & POS
Can I Make Transactions with Any Card on a POS Terminal?
To accept a card brand such as Mastercard or Visa, a POS must be certified for that brand. Which brands a POS accepts is the bank's decision.
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"merchant bank"
244 articles found
Merchant & POS
What is Address Verification Service (AVS)?
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.
Security
What is Access Security Control (ACS)?
Access Security Control (ACS) is the security protocol that the card-issuing bank must maintain in 3-D Secure to support cardholder authentication, functioning as a complete authentication solution for issuers and payment processors.
Credit Card
Why do the points I earn differ between transactions made with my card?
You may have noticed that the same transaction amount earns different reward points when paid with a credit card. Have you ever wondered why? The points a card earns are managed within the card bank's authorization system.
Credit Card
Does Credit Card Usage Increase Inflation?
The effect of credit cards on inflation has been debated for years. Because I am asked about it so often, I ran a poll on arifunal.com to gather readers' views. This post weighs the positive and negative effects and compares the poll with the research findings.
Merchant & POS
Why Are Issuer Data Definitions Important?
The most important part of issuer data definitions is that they are built around your own bank's or institution's developments and application flows. Missing BINs can break installments, rewards and routing on POS devices.
Merchant & POS
What Is a Cancellation (Void) and a Refund?
Credit card transactions made via POS sometimes need to be reversed. These are called a cancellation (void) or a refund. What's the difference, and when does each apply?
Laws & Regulations
What Is Law No. 6493? What Does It Contain?
Law No. 6493, published in Official Gazette No. 28690 on 27 June 2013, regulates the procedures and principles for payment and securities settlement systems, payment services, payment institutions and e-money institutions.
Merchant & POS
What is Onboarding (Merchant Definition)?
Onboarding refers to all the practices that help a customer learn to use a product or service for the first time. In payment institutions, it covers verifying a customer's information and documents during merchant application.
Payment Systems
BRSA Publishes Draft Regulation Amending the Regulation on Debit Cards and Credit Cards
The BRSA has published a draft regulation amending the Regulation on Debit Cards and Credit Cards. It introduces the card scheme definition, a customer right to choose the card scheme, and an obligation for acquirers to define licensed schemes on merchant POS devices.
Security
What Is Forgery in Card Payments?
Forgery in card payments means transactions made with card details without the cardholder's knowledge, or purchases with counterfeit or stolen cards. Merchants cannot eliminate fraud and chargeback risk, but they should aim to reduce it to reasonable levels.
Security
What Is OTP (One-Time Password)?
These are passwords generated for one-time use and sent to the cardholder's phone to verify card transactions in payment systems. The password sent during a 3D Secure transaction is a common example.