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Payment Systems
TCR stands for Transaction Record Component, the packets that carry transaction information in a clearing system. Transaction types in a clearing file are distinguished by transaction code and usage code values, and this data is sent inside TCR packets.
Payment Systems
In card payment transactions made via a physical POS device, entering the card's PIN keeps the transaction secure, while in virtual POS transactions, security is provided through the 3D Secure flow. Are 3D Secure payment methods standardized? There are 3 different 3D Secure models.
Payment Systems
The Smart Payment Association (SPA) is the trade association of the smart payments industry. It provides leadership and expert guidance to help members and customers realize smart, secure and personalized payment systems and services, now and in the future.
Cryptocurrency
Cryptocurrencies are becoming part of everyday life and are expected to compete seriously with card payments. This glossary explains the key crypto terms, from address, altcoin and arbitrage to halving, mining, proof of stake and stop-loss.
Merchant & POS
Recurring billing is the automatic collection of payments at set intervals and amounts by storing the customer's card details on a secure, PCI DSS-certified infrastructure.
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.
Credit Card
A credit card is a card whose limit the bank sets after evaluating the customer against criteria such as income, payment history, and credit bureau score.
FAST
Request to Pay lets users request payment from people who owe them money through a banking application. The CBRT has expanded the FAST Request to Pay Overlay Service so that corporate users can also use it.
Merchant & POS
On-Us Leakage is a term used in the world of payment systems. On-us means the card-issuing bank and the POS-acquiring bank are the same. So what does on-us leakage mean in this context?
Payment Systems
Store and Forward (SAF) describes offline transaction processing. It was originally developed when modems were introduced and connections were not always stable, letting terminals store transactions and forward them once connectivity is restored.
Payment Institutions & E-Money
Open banking means sharing customers' financial information with a third-party fintech company so that a range of banking and financial services can be offered to them. It works through API integrations. This post covers its status in Turkey and the new BRSA regulation.
ATM
The name given to the solution developed by NCR against card skimming and fraud. With SPS, the ATM network is protected from the cost and risks of skimming attacks, which cause over 2 billion dollars in global losses annually.