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HSM & Security
Secure Element Issuer is the stakeholder that provides, maintains, and updates the secure element in cases where mobile payment application and card data are stored in the secure element inside a mobile phone.
HCE
We can list the differences between the NFC Secure Element and HCE payment methods as follows: Secure Element requires a mobile operator and stores card data on a hardware chip, while HCE needs no operator and relies on cloud-based tokenization.
HSM & Security
HSM, short for Hardware Security Module, is specialized security hardware built to store sensitive cryptographic keys in a physical environment and to perform cryptographic operations in the most secure way.
Security
“Software-based Mobile Payment Security Requirements” is a document published by EMVCo in April 2020 to guide payment application developers in building secure payment applications. This post summarizes its purpose and who it concerns.
Merchant & POS
These are devices connected to a POS terminal that allow fast payments, up to a certain limit, using contactless credit cards or prepaid cards by tapping them on the contactless reader instead of the POS's card reader. Can every POS have a contactless reader attached?
Laws & Regulations
BKM (Interbank Card Center) membership is available in 3 statuses: bank, institution or HSK. This post explains the eligibility criteria for each status, the 12-month certification requirement and the BKM fee principles.
Security
These are passwords generated for one-time use and sent to the cardholder's phone to verify card transactions in payment systems. The password sent during a 3D Secure transaction is a common example.
ATM
At payment points such as ATMs and POS terminals, the most critical step is PIN verification or verifying the customer through their identity information. However, since ATMs cannot verify a customer's identity, PIN verification becomes more important. So how is it performed?