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Merchant & POS
In the past, collecting a payment meant physically swiping a card through a POS device. Payment methods have since diversified so much that customer satisfaction, transaction counts and volumes have all increased. Here is why SMS payment is gaining popularity.
Agentic Commerce
The next customer on the internet may not be human. If AI agents become part of purchasing decisions, the rules of e-commerce, marketing, and payment systems could change.
Credit Card
Time-limited credit card campaigns look attractive, but their rules hide pitfalls. Three real-world cases show why transactions fail to count toward points, and how to avoid it by reading the terms carefully.
Credit Card
A mandatory alphanumeric field, 1-16 characters, sent in tag 50 of EMV transactions, representing a name related to the card application's AID in the ADF.
Payment Systems
Official Gazette No. 32332 dated 07.10.2023 published the amending Regulation and Communiqué covering digital wallets, e-money, share transfers, cloud outsourcing, remote identity verification and card system choice.
FAST
Current information: this post describes the limit as it stood when published. The CBRT's press release No. 2022-13 of 14 February 2022 announced a higher FAST limit and FAST payments in shopping through TR QR Code.
ATM
With the advancement of technology, cash withdrawal methods have also diversified. The latest trend is withdrawing cash with a QR code. By generating a QR code through the mobile branch app of a bank that supports this feature, customers can withdraw cash from an ATM without a card.
HCE
There are three types of PIN strategy in HCE (Host Card Emulation): No PIN, Card PIN and Wallet PIN or customer biometric data. Each balances user experience and security differently.
Chargeback
Chargeback reason codes vary by card scheme. The Amex chargeback reason codes and their descriptions are listed below: American Express Chargeback Reason Codes A01 The charge you submitted did not receive a valid authorization approval code for the amount...
Laws & Regulations
The articles of the Regulation on the Accessibility of Banking Services are listed below. Published in the Official Gazette on 18 June 2016 (issue 29746), banks must strictly comply with them. PART ONE Purpose...
Merchant & POS
In the first post I explained what closed-loop payment systems are and how they differ from open-loop ones. Many of the replies I received boiled down to one question: how do these systems actually work behind the scenes once a QR code is scanned?
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.