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ISO 8583
F90 - ORIGINAL DATA ELEMENTS: the data elements from an original message, designed to identify the transaction in correction or reversal transactions. Subfields: Original MTI, Original DE 11 (STAN), Original DE 7, Original DE 32, Original DE 33.
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.
Online & Authorization
A reference guide to authorization response codes seen on POS and ATM transactions, with plain-language explanations of what each code means and what to do about it.
Credit Card
Payment systems statistics are reported periodically by the Interbank Card Center (BKM), including total card count, total card turnover, and the growth trend of the card world in the period.
Merchant & POS
In the first post I explained what closed-loop payment systems are and how they differ from open-loop ones. Many of the replies I received boiled down to one question: how do these systems actually work behind the scenes once a QR code is scanned?
Payment Systems
One of the most notable recent developments in card payments is that contactless limits are no longer fixed and can be managed dynamically per customer. Mastercard and Visa are taking different but complementary approaches, and ISO 8583 may need to evolve with them.
Payment Systems
Published in the Official Gazette of 25.11.2022, six days before the Transition Period ended, an amending Regulation and Communiqué extended the transition period for some obligations of payment and e-money institutions from 01.12.2022 to 28.02.2023.
Payment Systems
Before describing the Onus Installment process, it is better to first answer: what is an Onus transaction? An Onus transaction is when the acquirer and issuer are the same institution, so the transaction is processed through that institution.
Online & Authorization
A contactless transaction is a fast, secure payment made without direct contact between the card and the POS terminal (without reading the chip or magnetic stripe). Can every card be used for contactless payments? For a transaction to be contactless…
E-commerce
In recent years, data exchange over wireless mobile devices has become much faster and more secure. In 2019, mobile devices were used in 54.5 percent of purchases made by e-commerce users. With the steady growth in mobile users, mobile commerce keeps gaining ground.
Merchant & POS
AUC (Application Usage Control) specifies restrictions that limit an application by geography or by specific transaction types. It is a 2-byte data element in Tag 9F07. If present, the terminal performs checks such as whether the transaction is at an ATM.
Credit Card
If your card's chip won't read, the chip data is likely corrupted or the POS's chip reader is faulty. This is usually caused by magnetic interaction with another card's chip.