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Chargeback
A chargeback is the process of requesting that an amount paid by credit card be refunded, either because the goods or services paid for were not received, or because a transaction is identified as one the cardholder did not carry out.
Payment Systems
ISO/TC 68 is a technical committee within the International Organization for Standardization in Geneva, responsible for developing and maintaining international standards for banking, securities and other financial services.
Merchant & POS
A Collection POS is a secure, web-based payment platform through which businesses and institutions manage their collections and generate the reports they need. Many similar products exist on the market under different names.
HSM & Security
HSM, short for Hardware Security Module, is specialized security hardware built to store sensitive cryptographic keys in a physical environment and to perform cryptographic operations in the most secure way.
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.
Payment Systems
According to the Banks Association of Turkey, collusive transactions that misuse POS devices, debit cards, or credit cards for purposes other than their intended use are called fictitious transactions - in short, transactions used outside their intended purpose.
HSM & Security
ZPK, also known as the PIN Protection Key, is a data encryption key that is distributed automatically and used to encrypt PINs. It is also referred to as the 'Working Key'. This key allows PIN information to be carried securely across the network.
Credit Card
CVK (Card Verification Key) is the key information used to generate and verify CVV/CVC values, confirming their validity. It is kept as a pair of keys, CVK A and CVK B, encrypted under TMK, ZMK or LMK.
Merchant & POS
Partial authorization lets an issuer approve part of the requested amount when the card lacks the full balance, with the rest paid another way. This post covers the technical, receipt, clearing, reconciliation, merchant and certification requirements for acquirers.
Payment Institutions & E-Money
Open banking means sharing customers' financial information with a third-party fintech company so that a range of banking and financial services can be offered to them. It works through API integrations. This post covers its status in Turkey and the new BRSA regulation.
Chargeback
A good faith review request is a written request that issuers and acquirers send each other to collect on a transaction when the dispute (chargeback) process cannot be run. The requesting party states its grounds.
Payment Systems
Offline transaction parameters are divided into two types: contact offline and contactless offline. These parameters can be managed separately through Terminal data and Chip data. Offline transactions can be reported to the HOST after an online transaction, after X occurrences, and more.