Cryptocurrency
What Is Bitcoin?
Bitcoin is a digital currency launched experimentally in 2009 by Satoshi Nakamoto. It has no ties to any central bank, can be bought and sold with national currencies and can be transferred without any intermediary.
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"Payment Processing"
234 articles found
HSM & Security
What is a transaction performed with stored card data (Credential-on-File)?
Non-face-to-face transactions in which the cardholder authorizes the merchant to store card data, and the merchant uses that stored data to carry out the transaction, are called Credential-on-File (CoF) transactions.
Merchant & POS
EMV Chip Transaction Processing - What Is Application Selection?
In EMV transactions, Application Selection is the process of choosing among the applications supported by both the card and the terminal. It is the first stage of authorization, so it is very important. This post covers the PSE and List of AIDs methods.
Merchant & POS
Is a Transaction Made by Swiping the Magnetic Stripe of a Chip Card Always a Fallback Transaction?
It's important to first distinguish between magnetic-stripe and fallback transactions. A magnetic-stripe transaction skips the chip entirely, which lowers its security level compared to a fallback transaction.
Security
What are HTTP and HTTPS? What are the security differences between them?
When you visit a website, the protocol it supports appears at the left of the web address. Secure data transfers likewise use protocols that support http or https. Let's first take a brief look at what HTTP and HTTPS are.
Merchant & POS
What certifications must a POS complete to support MasterCard, Visa, and Troy cards?
For a POS device to process a transaction with a card issued under a payment scheme such as MasterCard or Visa, the device must complete the required certifications for that scheme. First, the acquiring bank must clarify several points before entering certification.
Merchant & POS
What Is an Unattended POS?
Unattended POS is a type of POS that is not managed by merchant staff and is triggered by the customer in self-service services. Its use has increased further with the rise of mobile payments.
Merchant & POS
TVR (Terminal Verification Results)
Terminal Verification Results (TVR): a sequence of bits produced when a terminal reads an EMV card, based on logical checks such as an expired card. This data object is used to decide whether a payment transaction should be accepted online, declined, or allowed to proceed.
Credit Card
Can I Be Held Responsible for a Family Member's Credit Card Debt?
With economic crises and the pandemic, the number of people struggling to pay has risen. Under the Turkish Civil Code, only the cardholder is responsible for their credit card debt, unless you are a guarantor or inheritance rules apply.
ATM
What is an ATM Shutter?
The shutter can be described as the gate mechanism that prevents financial loss during ATM cash deposit and withdrawal transactions by controlling customer access to cash and preventing tampering with the ATM system.
ATM
What is the Greedy Algorithm?
In payment systems, the Greedy Algorithm is used to give the customer the minimum number of banknotes when withdrawing cash from an ATM. The algorithm used varies from bank to bank, since ATM cash capacity and transaction volume differ. For example...
Merchant & POS
What is Authorization?
The term 'provizyon' comes from French and means obtaining approval for a transaction. In payment systems, authorization confirms that the card, POS, bank account, and transaction limits are sufficient to complete a payment.