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Online & Authorization
When a card transaction is made abroad, banks usually calculate the cost from a percentage commission, a fixed commission, and an exchange rate margin. The flow starts when the customer requests a cash withdrawal at a foreign ATM.
Chargeback
Chargeback reason codes vary by card scheme. The Amex chargeback reason codes and their descriptions are listed below: American Express Chargeback Reason Codes A01 The charge you submitted did not receive a valid authorization approval code for the amount...
ISO 8583
F54 - ADDITIONAL AMOUNTS is the additional amount field used in transactions. It can take different values depending on the transaction, such as carrying account balance information for balance inquiries.
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.
ISO 8583
Field 3, Processing Code, is the field that shows what type of transaction is being performed and is critical for authorization. A Sale from POS differs from a Cash Withdrawal at an ATM.
Payment Systems
Every payment transaction completes in seconds, yet dozens of controls run behind the scenes. This post covers the precautions for authorization and clearing, the critical role of reversals, and the financial loss scenarios most often seen in the field.