Credit Card
What is dCVV2?
Most of us are familiar with CVV2/CVC2 - the security code on the back of a card, usually three digits. So what is dCVV2? Here's how dynamic CVV technology works and why Visa introduced it for online payments.
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"Online Transaction"
186 articles found
Credit Card
My Card Is Broken. What Should I Do?
If your card is broken, call your bank's Customer Contact Center to request a renewal. Since the card number usually stays the same after renewal, this is convenient for you. If you'll keep using the card, don't set it to Closed or Cancelled status.
Merchant & POS
What Are the Partial Authorization Requirements for an Acquirer Bank?
Partial authorization lets an issuer approve part of the requested amount when the card lacks the full balance, with the rest paid another way. This post covers the technical, receipt, clearing, reconciliation, merchant and certification requirements for acquirers.
Payment Systems
What Is a Brick and Mortar Bank?
“Brick and mortar” refers to a business's physical presence in a building. In banking, it describes the traditional branch-based model of face-to-face contact between bank and customer.
Payment Systems
What is Takasbank?
Takasbank (Istanbul Settlement and Custody Bank) exists to increase the competitiveness of Turkey's markets by providing clearing and custody services, financial services, and other economic activities under the relevant legislation.
Credit Card
Do I have to use my physical card when shopping?
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.
Payment Systems
Where Can I Find OHVPS Participants and Participants That Have Completed OHVPS Certification?
Open banking means sharing financial data with third parties securely, and Payment Services Data Sharing Services (OHVPS) are the two core payment services under it. This post explains both and where to find the participant list on the BKM website.
Credit Card
What is Person-to-Person Payment (P2P)?
Person-to-person payments (P2P) is an online technology that lets users transfer money from their bank or credit card accounts to another person's account over the internet or a mobile phone. Examples of such apps include PayPal, Venmo, and Cash App.
E-commerce
When Is a Return or Refund Valid in E-Commerce Transactions?
Can a product bought online be returned, and under what conditions? This post explains the 14-day right of withdrawal in Turkey and the cases in which Law No. 6502 on Consumer Protection removes the right of return.
Online & Authorization
What are EMV Tags?
In EMV, data is stored in Tag-Length-Value (TLV) format, and it is carried between the card, the POS terminal, and the authorization system in this same format. This post lists every EMV Tag, its type, and its description.
Payment Systems
I Want to Establish an E-Money Institution in Turkey. How Should I Start?
Let's start by defining e-money. In general terms, e-money is a monetary value stored on a secure technological device (such as a computer disk). E-money is a concept defined under Turkish law through legislation enacted by the BRSA (BDDK).
E-commerce
What Is a Marketplace Solution?
A marketplace solution is a service offered by software that enables communication and data exchange between different marketplaces. It is a multi-vendor online shopping infrastructure, including the payment system, for listing, searching and buying products and services.