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Diagram comparing the refund and chargeback processes

Merchant & POS

Is There a Difference Between Refund and Chargeback?

Let's first look at chargeback and refund: a chargeback returns the amount paid to a credit card when goods or services are not received, or when transactions not made by the cardholder are detected.

Illustration representing the products and services KKB offers directly to its member institutions

Credit Card

What Products and Services Does KKB Offer Directly to Members?

KKB was established, under banking law, to enable the exchange of all kinds of information and documents among at least five banks, and it also shares credit information about customers. The Credit Bureau of Turkey also serves deposit banks, participation banks, financial institutions, and more.

Credit card being inserted into a merchant POS terminal

Credit Card

What Is the Transaction Life Cycle in the Card World?

As credit cards become more and more a part of our lives, we now make almost all our purchases without cash. We inserted our card into the merchant's POS. We made a 100 TRY sale transaction. We received a receipt confirming it was successful.

Visa Merchant Purchase Inquiry (VMPI) process diagram

Fraud

What is Visa Merchant Purchase Inquiry (VMPI)?

Chargeback is the process of refunding a credit card payment when the goods or services that should have been received were not, or when transactions not made by the cardholder are identified. In Turkish it is translated as reversal of presentment.

Flowchart showing the chargeback dispute process between cardholder, issuer, and merchant

Chargeback

What is a chargeback?

A chargeback is the process of refunding an amount back to a credit card when goods or services paid for are not received, or when transactions not carried out by the cardholder are identified. It is translated into Turkish as reverse presentment.

Illustration representing an AI agent making purchasing decisions

Agentic Commerce

Agentic Commerce Series – Part 3

Can AI Decide on Our Behalf? Letting an AI agent handle research can make life much easier. The real question is where that should stop, and how much decision-making authority we are ready to hand over.

Illustration explaining how post-purchase installment conversion works for credit card payments

Credit Card

What Is Post-Purchase Installment Conversion?

Post-purchase installment conversion lets credit card purchases and cash withdrawals be split into installments afterward for a fee. See the rules and limits banks apply.

ISO/IEC 7816-5 application identifier (AID) structure

Online & Authorization

What Is ISO/IEC 7816-5?

ISO/IEC 7816-5 defines how to use an application identifier to determine whether an application is present on a card and/or to retrieve the application on the card.

Illustration of ways merchants can reduce chargebacks on card transactions

Chargeback

How to Reduce Chargebacks (For Merchants)

Chargeback is inherent to card transactions, so it may be impossible to prevent entirely, but taking precautions keeps the risk to a minimum. Here are the key points merchants should pay attention to in order to reduce chargebacks.

Diagram illustrating the POS batch upload reconciliation process

Merchant & POS

What is Batch Upload?

When a transaction is made through a POS, it is recorded both on the POS itself and in the acquiring bank's authorization system. At batch close, the POS sends all its transactions to the bank, which reconciles them against its own records.

Diagram illustrating White Box Cryptography (WBC) for securing open devices

HSM & Security

What is White Box Cryptography (WBC)?

White Box Cryptography (WBC) is an important technology used to minimize security risks for open devices such as smartphones. It is a new technique against attacks targeting white-box attack environments.