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Chargeback
A soft chargeback, also called a retrieval request, is a request for documents about a transaction the cardholder does not recognize. Learn why customers request them, what information merchants should provide, and why a fast response matters.
HCE
Tokenization generates secure data from a credit card number, using specific algorithms, for use during authorization. In CNP transactions, it removes the risk of storing or compromising the original card number.
Chargeback
A chargeback is when a cardholder asks the issuing bank to refund a transaction made without their knowledge. It cannot be prevented entirely, but simple precautions can minimize the risk. Here is how the process works and what cardholders should do.
Payment Institutions & E-Money
Bill payment intermediation is a payment service under Law No. 6493. Only the CBRT and payment service providers, namely banks, electronic money institutions, payment institutions and PTT, can offer it.
HCE
Generating a token from the card number is essential to the security of payments made with mobile devices. The level of tokenization used depends on the need and on how critical the token is. Static tokenization: the token is generated once and stored in a database.
ISO 8583
F45 (TRACK-1 DAT) carries the Track 1 data of the card in ISO 7813 format, including field separators and start and end sentinels but excluding the LRC character. It is 76 characters long.
Credit Card
When banks launch a new card product, they can do it under an existing BIN or a new one. A new BIN requires much more work: BKM announces it, every bank defines it and every POS has to download it.
Online & Authorization
In payment systems, the term transaction refers to the operations performed. Each transaction has its own distinct characteristics. For example, a Sale made from a POS differs from a Sale Cancellation or a Cash Withdrawal made from an ATM.
Credit Card
Legally, e-commerce sites should not store card details in their own systems; they should only use them when sending transactions. Unfortunately, some sites do not follow this rule.
E-commerce
BKM Express has pioneered card storage and digital wallets in Turkey. After the Competition Authority's termination decision, a Board decision revoked it, so BKM Express will continue. Here is the latest situation.
Security
Forgery in card payments means transactions made with card details without the cardholder's knowledge, or purchases with counterfeit or stolen cards. Merchants cannot eliminate fraud and chargeback risk, but they should aim to reduce it to reasonable levels.
Credit Card
In the early years of credit cards, using the card physically was mandatory. With the internet and new technologies, we can now pay with only the card details, 3D Secure and contactless NFC payments, even without the card in hand.