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Merchant & POS
Open authorization covers the period between authorization, POS batch close, the bank's end-of-day process, and clearing. Learn which steps allow cancellation versus refund, and what a cardholder should do.
Credit Card
Credit card fraud keeps changing form, but the aim is always to trick the cardholder into giving up card details. Fraudsters posing as delivery couriers now copy cards on modified POS devices. Here is how the scam works and how to protect yourself.
Merchant & POS
Cardholders may request a refund through the merchant for POS transactions due to wrong deliveries, returned goods and similar reasons. Here is the information a refund receipt must contain, including extra fields for e-commerce.
ISO 8583
DE 11 - SYSTEMS TRACE AUDIT NUMBER: A 6-digit unique numeric value generated by the message originator, enabling unique tracking of the transaction. How is STAN generated?
Credit Card
Technology continues to make our lives easier and more secure. Old ID cards were just laminated paper; new ones became personalized and secure with biometric photos added alongside chip data.
Merchant & POS
Introduction: When a card (credit card/debit card/prepaid card) is used at an ATM or POS, data must be carried securely between systems. For example, in a store sale, the POS initiates the transaction, which must reach the cardholder's bank intact.
Credit Card
Time-limited credit card campaigns look attractive, but their rules hide pitfalls. Three real-world cases show why transactions fail to count toward points, and how to avoid it by reading the terms carefully.
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.
Payment Systems
Every payment transaction completes in seconds, yet dozens of controls run behind the scenes. This post covers the precautions for authorization and clearing, the critical role of reversals, and the financial loss scenarios most often seen in the field.
Merchant & POS
Almost all of us carry at least one credit card. Imagine losing your wallet with all your cards inside, and someone with bad intentions finding it and using the cards without a PIN. Who bears the responsibility?
Merchant & POS
Partial Authorization lets an issuer approve part of a transaction instead of declining it when the balance or limit is insufficient. This post covers how it works in ISO 8583, whether it is mandatory, and why it matters for the business.
Credit Card
CNP refers to a transaction made through a website or a company's own app payment page, where the card is not read by any device and its details are entered manually. It is short for Card Not Present.