ATM
What is a Shared ATM?
A shared ATM lets a customer of one bank use another bank's ATM for card or credit card transactions. Within customer limits, shared ATMs allow deposits, withdrawals, balance inquiries, and credit card debt inquiry/payment.
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"Card Transactions"
583 articles found
Credit Card
What are the differences between the CVV and CVV2 generation algorithms?
CVV and CVV2 values are often confused by cardholders. CVV is printed on the magnetic stripe and used for card verification when the card is physically swiped through a POS; CVV2 is printed on the back of the card for e-commerce authorization.
Credit Card
What Is Effective Date?
The Effective Date is the information showing the date until which a card can be actively used. It can also be called the expiration date. It is a mandatory field printed on the card and used in transactions, set by banks for card security.
Merchant & POS
Can an Open-Authorization Transaction Be Cancelled?
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
Who Wouldn't Want a Credit Card with a Biometric Reader?
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.
Merchant & POS
What is On-Us Leakage?
On-Us Leakage is a term used in the world of payment systems. On-us means the card-issuing bank and the POS-acquiring bank are the same. So what does on-us leakage mean in this context?
Merchant & POS
What is a Pin Entry Device (PED)?
Pin Entry Device is another name for the PIN pad device we all know and use daily. It makes it easier for users to enter their card PIN during POS transactions with credit or debit cards, and is used for contactless card reading...
EMV
What is the Card Block command?
The Card Block command is used after card issuance to deactivate all applications within the ICC, including applications that could be selected indirectly. The components of the command are explained below.
Chargeback
What Is Compliance (Regulatory Compliance)?
Compliance means adherence to card scheme rules. Outside chargebacks, it is how a bank that loses money because card payment organization rules were broken recovers that amount from the party that caused the loss.
Payment Systems
What are the key points in an Onus Installment project?
Before describing the Onus Installment process, it is better to first answer: what is an Onus transaction? An Onus transaction is when the acquirer and issuer are the same institution, so the transaction is processed through that institution.
Merchant & POS
Key Points to Watch for in Recurring Payments
Winning customers is one of the most important things in business, but keeping them satisfied matters just as much. If you collect payments at regular intervals, such as monthly, these tips will help you improve the success rate of recurring collections.
Merchant & POS
What is the risk of mail order transactions for merchants?
Mail order transactions are preferred by cardholders because they only block the card limit by the installment amount, creating a sales opportunity for merchants. But is the remaining balance guaranteed?