Search
277 articles found
Credit Card
This communiqué sets the rules for managing information systems used in bank card and credit card transactions. Card scheme operators, issuers, acquirers, merchants and outsourced service providers are all within its scope.
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.
Payment Systems
BKM, short for Interbank Card Center, is a legal entity established in 1990 with contributions from 13 public and private Turkish banks to provide clearing and settlement for cards.
Security
The number of companies offering cloud computing and storage has grown sharply in recent years. AWS, founded in 2006, is the world's largest cloud computing and storage provider, ahead of Google Cloud, Microsoft Azure and IBM.
E-commerce
BKM Express has pioneered card storage and digital wallets in Turkey. After the Competition Authority's termination decision, a Board decision revoked it, so BKM Express will continue. Here is the latest situation.
ATM
ATM stands for Automated Teller Machine, an electronic device that lets customers carry out account transactions with or without a card. It was invented in 1960 by John Shepherd-Barron. The first ATM in Turkey was installed in 1982.
HSM & Security
PEK is the abbreviation for Pin Encryption Key. The role of PEK is to encrypt PINs. There are two types of PEK: TPK (Terminal Pin Key) and ZWK (Zone Working Key).
HCE
A tokenized card number replaces a physical card number so transactions can be carried out securely. It is generated by the TSP (Token Service Provider), used by the cardholder or merchant, and travels across the payment systems network.
Chargeback
Chargeback is inherent to card transactions, so it may be impossible to prevent entirely, but taking precautions keeps the risk to a minimum. Here are the key points merchants should pay attention to in order to reduce chargebacks.
Merchant & POS
Virtual or electronic authorization devices connected to a bank, used by merchants to accept card payments. The term comes from the English phrase Point of Sale. Covers POS types by communication method, their advantages, who can use one, and the transactions a POS can perform.
HSM & Security
White Box Cryptography (WBC) is an important technology used to minimize security risks for open devices such as smartphones. It is a new technique against attacks targeting white-box attack environments.
Merchant & POS
Card storage is a system, secured with PCI DSS certification, for storing credit and debit card details safely. It saves consumers from entering their card details again and again on frequent purchases.