Merchant & POS
What does Not Onus mean?
Not Onus is a payment systems term meaning "Not On Us": a situation where the card-issuing bank and the POS/ATM (acquiring) bank differ. Such transactions are settled through clearing between the two banks.
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Merchant & POS
What does Onus mean?
In the payment systems glossary, some terms are essential, including Onus. Onus literally means "on us" and refers to cases where the card-issuing bank and the POS/ATM bank are the same, meaning no clearing commission applies.
Merchant & POS
A look at April 23 through the lens of digitalization and payment systems
Today is April 23, the 100th anniversary of the opening of the Grand National Assembly. Taking Children's Day as a starting point, this post looks at digitalization, Generation Z, blockchain, biometric payments and the cashless society from a payment systems perspective.
Payment Systems
Is Apple Card preparing for installment payments?
Global technology companies' interest in payment systems keeps growing every day. According to reports, Apple has begun planning work on infrastructure to accept installment payments with Apple Card, letting users pay in monthly installments.
Credit Card
The Era of Card Payments in Schools
Prepaid cards have changed how families manage children's spending. The Manibux allowance app now serves schools with its K12 application, letting parents load separate allowance and canteen balances for their children.
Payment Systems
What Are the AVS Codes by Card Scheme?
The Address Verification Service (AVS) is a fraud prevention system that, when used effectively, can help limit fraud and chargebacks. This post lists the AVS response codes used by AMEX, Mastercard and Visa, with a description of each.
Credit Card
Is there a timeout period for a transaction pending in Open Authorization?
Due to how payment systems work, authorization is obtained first for a transaction. For a Not Onus transaction (where the card-issuing bank and the POS bank are different), the system waits for the relevant transaction to arrive via the clearing incoming file…
Security
What Is Forgery in Card Payments?
Forgery in card payments means transactions made with card details without the cardholder's knowledge, or purchases with counterfeit or stolen cards. Merchants cannot eliminate fraud and chargeback risk, but they should aim to reduce it to reasonable levels.
EMV
What Is an EMV Issuer Script?
An EMV Issuer Script is a system that lets the issuer (the institution that issues the card) update and change the parameters and values on the card chip while it remains in use, reducing fraud over the card's lifetime.
Merchant & POS
What You Need to Know About Smart Cash Registers (OKC)
A smart cash register is a new-generation, IP-based payment recording device that integrates a cash register with a POS terminal. It combines fiscal devices and POS devices in a single unit and transmits data to the Ministry of Finance in real time.
Merchant & POS
Can I Make Transactions with Any Card on a POS Terminal?
To accept a card brand such as Mastercard or Visa, a POS must be certified for that brand. Which brands a POS accepts is the bank's decision.
Courier & Delivery
How Is Bank Integration Done for Card Distribution via Courier?
Courier companies and banks generally carry out the card distribution process through file exchanges. (Some banks also use web service integration; in that case the information normally sent via file is transmitted within the service.) With the courier...