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Credit Card
When banks launch a new card product, they can do it under an existing BIN or a new one. A new BIN requires much more work: BKM announces it, every bank defines it and every POS has to download it.
Merchant & POS
With advances in technology, mobile phones can now be used for many functions besides calls and internet access. One such innovation is the ability to use smartphones or tablets as POS devices.
Merchant & POS
MCC stands for Merchant Category Code: a 4-digit code used to classify merchants by business type. Codes differ slightly between Mastercard, Visa, and BKM.
Merchant & POS
Pre-authorization closing turns a pre-authorized transaction into a financial one, posting it to the merchant and cardholder accounts. See how amounts and available limit are affected.
ISO 8583
DE 48 - ADDITIONAL DATA: these are additional data fields that can be used specifically for transactions. It is 255 characters long. Field F48 carries many pieces of information and is divided into PDS (Private Data Subelements).
Merchant & POS
Loading parameters onto a POS transfers BIN lists, key data, and refund/cancellation authorizations from the management system onto the terminal. Learn how and when it happens.
Credit Card
Visa, Mastercard, and TROY logos on a card represent the payment scheme behind it. Learn what these brands actually do and how a new BIN gets certified.
Payment Systems
Let's talk about payment systems, which we have heard more about since the internet entered our lives, and the basic structures behind them. The first credit card in the world was used in America in the 1920s.
Merchant & POS
Developed by BKM and made available to banks, OPYS centrally supports setting up multi-application POS terminals shared by multiple members, inviting other members, adding or removing them, and managing field company relationships.
Credit Card
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?