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Sample credit voucher (refund) document

Merchant & POS

What is a Credit Voucher (Refund Document)?

A Credit Voucher (Refund Document) is a document issued by the merchant for the refund or cancellation of a good or service that a cardholder purchased using a credit card, or to correct an overcharge made by mistake.

Application Unblock command structure diagram

EMV

What is the Application Unblock command?

The Application Unblock command removes the block placed on an application by the Application Block command, making the application usable again. Like Application Block, it is a command sequence managed after the card is presented to the terminal.

Illustration of a smartphone used as a mobile POS payment terminal

Merchant & POS

Are POS Terminals Becoming Obsolete?

Today, as credit cards shift from physical to virtual use, a similar move has come from the POS side. We have begun to see mobile phones used as POS devices becoming a serious rival to physical POS terminals.

EMV Lower Consecutive Offline Limit 9F14 illustration

EMV

What Is the Lower Consecutive Offline Limit?

The Lower Consecutive Offline Limit is the maximum number of consecutive offline transactions allowed by the ICC application, as set by the issuer, on a terminal capable of going online. It is sent in tag 9F14.

Illustration of a multicurrency POS terminal supporting multiple foreign currencies

Merchant & POS

What Is a MultiCurrency POS?

Multicurrency POS refers to POS devices that can process transactions in foreign currencies (USD, EUR, GBP, etc.) in addition to Turkish Lira. Merchants using a MultiCurrency POS can process transactions in different currencies for international cardholders.

Illustration of digital transformation in payment systems

Merchant & POS

How Digital Are You in Payment Systems?

Digitalization has brought major change to payment systems, just as it has to every area of our lives. Its biggest impact has been turning the financial world into something virtual, spanning IoT, mobile payments, blockchain and biometrics.

Zone Working Key PIN encryption between banks

HSM & Security

What Is ZWK (Zone Working Key)?

ZWK stands for Zone Working Key. It encrypts the PIN so that it can travel securely between different financial institutions, such as the acquiring bank and the issuing bank.

Diagram illustrating the Local Master Key (LMK) concept in an HSM

HSM & Security

LMK (Local Master Key)

LMK stands for Local Master Key. The Local Master Key (LMK) is the HSM's master key, and all other keys used by the institution are secured under this key. As transaction volume increases, banks often use multiple HSMs to reduce the load on each device.

Example of a POS transaction receipt (slip)

Merchant & POS

Don't Dismiss the POS Receipt

In daily credit card purchases, the POS produces two receipts: the Customer Copy and the Merchant Copy. The cardholder gets the customer copy; the merchant keeps its own copy by law.

Illustration of a surcharge fee added to a card payment transaction

Merchant & POS

What is a surcharge?

A surcharge is a fee, charge, or tax added to the cost of a good or service. In payment systems, it refers to adding the merchant's transaction commission to the cash sale amount on credit card transactions, resulting in a higher charge.

Example of a POS receipt showing a warning for a foreign card transaction

Merchant & POS

Is Identification of Foreign Customers on POS Receipts Mandatory?

Yes, it is mandatory. This requirement was introduced to prevent fraud. To fulfill their obligations regarding identification of foreign customers, banks must make one of several arrangements on receipts, such as bilingual descriptions or an explicit foreign card warning.