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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
In the world of payment systems, both the issuer (the cardholder's bank) and the acquirer (the POS/ATM bank) must follow certain rules for card transactions made through a POS terminal or an ATM. Responding to transactions within a certain time is one of these rules.
Merchant & POS
When a chip can't be read due to a chip fault or the card being inserted incorrectly, the transaction is completed by swiping the magnetic stripe on the right side of the POS. Can chipless cards do fallback?
Merchant & POS
BKM has changed the domestic transaction flows for contactless transactions above and below the CVM limit. For above-limit transactions, the issuer can now ask the cardholder to re-enter the PIN instead of terminating the transaction after an incorrect PIN (DE39 = 55).
Payment Systems
The domestic authorization flow for below-CVM-limit online contactless transactions has changed. Issuers can now ask the cardholder for a PIN or request card insertion instead of simply approving or declining. This post explains the CVM list and the new DE48 PDS22 and DE39 = 65 message flows.
Payment Systems
The BRSA has introduced a regulation to reduce paper use in POS devices. Cardholders who do not want a paper receipt for card purchases will be able to receive and store it digitally, with the rules taking effect in September and December 2023.
Payment Systems
Under the regulation published on 25 September 2020 in Official Gazette No. 31255, institutions that sign merchant agreements must now be able to track transactions at the sub-merchant level.
Security
In online shopping, converting product browsing into a completed sale after a customer visits your site is just as critical. The amount of purchases abandoned due to friction in the online buying process often exceeds successful sales.
Laws & Regulations
BSMV stands for Banking and Insurance Transaction Tax, levied on banking and insurance transactions. This post explains how it applies to payment institutions and e-money institutions under Expense Taxes General Communiqué No. 91, with an example.
Credit Card
Card security is critical in card payment systems. Chip&Pin curbed much fraud, but gaps remain. Cornercard, Gemalto and Visa launched Switzerland's first credit card with a built-in fingerprint reader. Here is how it works.
Credit Card
Payment systems statistics are reported periodically by the Interbank Card Center (BKM), including total card count, total card turnover, and the growth trend of the card world in the period.
Merchant & POS
The term 'provizyon' comes from French and means obtaining approval for a transaction. In payment systems, authorization confirms that the card, POS, bank account, and transaction limits are sufficient to complete a payment.