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Security
A CP transaction refers to a card transaction in which the card and cardholder are physically present at the location. Card Present transactions occur when the card's magnetic stripe or chip data is read by a POS terminal or ATM, or via contactless.
Chargeback
Arbitration, by definition, is a dispute resolution method in which disputes are settled by arbitrators the parties choose themselves, rather than by official courts. In payment systems, it follows a chargeback when the issuer and acquirer cannot agree.
Merchant & POS
A Credit Voucher (Refund Document) is a document issued by the merchant for the refund or cancellation of a good or service that a cardholder purchased using a credit card, or to correct an overcharge made by mistake.
Merchant & POS
Today, as credit cards shift from physical to virtual use, a similar move has come from the POS side. We have begun to see mobile phones used as POS devices becoming a serious rival to physical POS terminals.
Merchant & POS
The Upper Consecutive Offline Limit is the maximum number of consecutive offline transactions allowed by the issuer's chip card application on a terminal that cannot go online. It is held in tag 9F23.
EMV
The Lower Consecutive Offline Limit is the maximum number of consecutive offline transactions allowed by the ICC application, as set by the issuer, on a terminal capable of going online. It is sent in tag 9F14.
Merchant & POS
DDOL is the list of data a card needs when the DDA method is used during Data Authentication. If the DDOL is not present on the card, the terminal may keep a default DDOL list instead.
HSM & Security
PEK is the abbreviation for Pin Encryption Key. The role of PEK is to encrypt PINs. There are two types of PEK: TPK (Terminal Pin Key) and ZWK (Zone Working Key).
Credit Card
When payment systems come to mind, credit cards are usually the first thing people think of. Credit cards are produced according to specific standards, both in visual design and during printing. These standards belong to the ISO/IEC 781X family.
Merchant & POS
An offline transaction is one approved by the card and the POS themselves, without going to any system (the card's bank or the POS's bank), when a chip card transaction is made at a POS. For this reason, some sectors considered risky are restricted.
EMV
EMV standards form the foundation for chip cards to work on terminals worldwide, but each scheme - VSDC (Visa), M/Chip (Mastercard), AEIPS (Amex), J Smart (JCB), D-PAS (Discover), and UICS (UnionPay) - defines its own keys, rules, and card profiles.
Fraud
Fraud management is used to detect possible fraud on customer accounts and provides additional security for transactions when necessary, making it one of the top priorities for banks.