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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.
Fraud
In payment systems, fraud means using someone else's credit or debit card to carry out a transaction at a merchant or ATM, gaining unfair profit and causing loss to the real cardholder, the merchant, or the bank. Fraudsters…
HSM & Security
ZWK stands for Zone Working Key. It encrypts the PIN so that it can travel securely between different financial institutions, such as the acquiring bank and the issuing bank.
Merchant & POS
Isbank, a leading player in accepting payments from abroad in Turkey, has started accepting Discover and Diners Club cards via an agreement with Discover Financial Services, making it the bank accepting the most card brands in the country.
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.
HCE
The token used in HCE transactions contains more than just a new number derived from the card number. It also includes single-use keys, an expiration date, RSA keys and certificates, transaction limits, and an Application Transaction Counter (ATC).
Merchant & POS
In payment systems, exchange rate information is used in two places: POS devices that support foreign currency transactions, and credit card transactions made in a foreign currency (usually abroad).
FAST
To offer the Easy Address service, an institution needs approval from the Central Bank of the Republic of Türkiye (CBRT), documented eligibility to participate in FAST or EFT, and completed administrative and technical processes with BKM.
Clearing
Clearing: the transmission of transfer orders sent to the system, mediating their mutual delivery, obtaining authorization prior to settlement in some systems, and netting payment orders.
Clearing
The YTH (Domestic Clearing and Settlement) System handles the clearing and settlement between two banks when a transaction is made at another bank's POS or ATM with a card from a different bank. Participants submit records to the YTH system, and...
Merchant & POS
In chip transactions made with a credit card via POS, the transaction amount is approved by the card and POS based on parameters on the card and POS, without going to the card bank or POS bank. These are called offline transactions.
Payment System Institutions
UnionPay Online Payments (UPOP) lets merchants in China, New Zealand, Australia and other countries extend their e-commerce stores to accept UnionPay payments. UnionPay supports over 5 billion cards in more than 140 countries.