ISO 8583
ISO 8583 Field Descriptions (F60)
F60-ADVICE REASON CODE: Used to indicate the specific purpose of an advice/reversal message. It is 60 characters long.
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"banking systems"
368 articles found
Merchant & POS
POS and Payment Recording Device (OKC) Manufacturers and Providers in Turkey
There are many players in the POS and OKC (Payment Recording Device) market in Turkey. Some of these companies are foreign, while others are domestic. Let's get to know these companies: Ingenico, Verifone, Interpay (PAX), and more.
Payment Institutions & E-Money
What Is the Circular on the Report Format under Article 8 of the Regulation on Payment Services and E-Money Issuance and Payment Institutions and E-Money Institutions? How Can It Be Accessed?
Under Law No. 6493, payment institutions and e-money institutions may operate only with BRSA permission. This post explains the BRSA circular on the format of the independent audit report required with operating permit applications under Article 8 of the Regulation, and where to find it.
Security
What is the First Credential-On-File transaction?
The first transaction made after a customer's card data is stored with a merchant is called the First Credential-On-File transaction. BKM expects it to be flagged with the value "C" in switch message field DE48.PDS86, and BRSA draft rules govern how card data may be stored.
HSM & Security
What is a transaction performed with stored card data (Credential-on-File)?
Non-face-to-face transactions in which the cardholder authorizes the merchant to store card data, and the merchant uses that stored data to carry out the transaction, are called Credential-on-File (CoF) transactions.
FAST
Where Can I Cancel a Defined Easy Address?
An Easy Address is defined through the channels of the bank holding the account. Likewise, an Easy Address can be cancelled and deleted through the channels of the bank where the account is held.
Laws & Regulations
What are the regulations and legal obligations of payment institutions?
A payment institution is a legal entity that provides payment services for electronic payments through the infrastructure it offers. This article covers the Turkish regulatory framework, licensing, safeguarding, supervision, penalties and taxation.
Laws & Regulations
What Are the Visa Core Rules and Visa Product and Service Rules Documents? How Can I Access Them?
The Visa Core Rules and Visa Product and Service Rules documents define the fundamental rules that apply to all institutions in the Visa network. They are updated regularly, and all members are expected to follow the latest version.
Debit Card
What Is a Stored Value Card?
A stored value card is a widely used card type today. Instead of being held in a financial system, the monetary balance is stored directly on the card, which has a special magnetic stripe recording important financial data such as the balance.
Merchant & POS
What Happens Behind the Scenes When a QR Code Is Scanned? | Closed-Loop Payments #2
In the first post I explained what closed-loop payment systems are and how they differ from open-loop ones. Many of the replies I received boiled down to one question: how do these systems actually work behind the scenes once a QR code is scanned?
ISO 8583
ISO 8583 Field Descriptions (F41)
F41 - CARD ACCEPTOR TERMINAL IDENTIFICATION: the terminal where a transaction took place. An 8-character alphanumeric value generated by the acquirer bank and assigned to the POS, managed as a unique terminal number at the acquirer.
FAST
What is the Easy Addressing System (KOLAS)?
The Easy Addressing System (KOLAS) is one of the layered services of FAST, the Central Bank's instant funds transfer system, developed and operated by BKM. It lets users send money via phone number or email instead of an IBAN.