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Close-up of a payment card showing its first six digits, the BIN

Credit Card

What Is a BIN (Bank Identification Number)?

BIN stands for Bank Identification Number, the unique code made up of a card's first 6 digits that identifies which bank issued it, under the ISO/IEC 7812 standard.

Illustration of a stored value card with balance information stored on its magnetic stripe

Debit Card

What Is a Stored Value Card?

A stored value card is a widely used card type today. Instead of being held in a financial system, the monetary balance is stored directly on the card, which has a special magnetic stripe recording important financial data such as the balance.

Illustration of a credit card showing standard ISO/IEC 7810 and 7811 design features

Credit Card

What is a Credit Card?

A credit card is a printed card, or a card number with no physical form, that allows the purchase of goods and services or cash withdrawal without using cash. So how are credit card limits set and managed? Setting a limit involves checking many parameters about the customer.

Diagram illustrating the structure of ISO 8583 Field 53, PIN Encryption Control Information

Online & Authorization

ISO 8583 Field Descriptions (F53)

F53 - PIN Encryption Control Information. When online PIN data is present, sending the F53 value is mandatory, except when DUKPT information is carried in Field 63, Tag 01. F53 consists of the following components.

Diagram explaining PVKI and PVV calculation in card PIN verification

Credit Card

What Is PVKI (PIN Verification Key Index)?

PVKI is the abbreviation for PIN Verification Key Index. It is located within the card's Track 1 and Track 2 data and is used in PVV calculation. It can take values from 1 to 6, usually defaulting to 1.

Illustration representing an AI agent making a payment

Agentic Commerce

Agentic Commerce Series – Part 4

Are We Ready to Give an AI Agent the Authority to Make Payments? Having long looked at complaint and dispute processes in payment systems, I think granting an agent payment authority is far different from research or product selection.

Illustration representing the Card Protection Plan (CPP)

Security

What is CPP (Card Protection Plan)?

Credit cards are one of the most important payment instruments in daily life. As technology advances and mobile payments and ATMs handle nearly all transactions, credit card fraud is also diversifying and increasing.

TreeCard wooden bank card made from sustainably sourced cherry wood

Credit Card

Can a card be made from wood?

While the use of physical cards and POS terminals is gradually declining, positive developments continue, such as the world's first wooden card, TreeCard, backed by the search engine Ecosia and aimed at reforesting the world.

EMV upper consecutive offline limit

Merchant & POS

What Is the Upper Consecutive Offline Limit?

The Upper Consecutive Offline Limit is the maximum number of consecutive offline transactions allowed by the issuer's chip card application on a terminal that cannot go online. It is held in tag 9F23.

Illustration explaining the authorization process for card payments at POS, virtual POS, and ATM terminals

Merchant & POS

What is Authorization?

The term 'provizyon' comes from French and means obtaining approval for a transaction. In payment systems, authorization confirms that the card, POS, bank account, and transaction limits are sufficient to complete a payment.

Diagram showing the pre-authorization closing process flow on a POS terminal

Merchant & POS

What Is Pre-Authorization Closing?

Pre-authorization closing turns a pre-authorized transaction into a financial one, posting it to the merchant and cardholder accounts. See how amounts and available limit are affected.