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Payment Systems
The Draft Retrieval Not Required Before Chargeback codes defined for Visa and Mastercard are listed below, so you can see which disputes can go straight to chargeback.
Merchant & POS
The MCC code, or Merchant Category Code, is a 4-digit code used to classify merchants. Some MCC codes are restricted or prohibited, and POS terminals or card transactions may be blocked when such a code is used.
Merchant & POS
In EMV-based debit card transactions, PIN verification is decisive for both security and liability. What happens when a card that only supports online PIN is sent to the issuer without a PIN, and the issuer approves it? Who owns the risk?
Merchant & POS
In-house is a term widely used in the world of payment systems. It means that payment systems applications are managed end-to-end within the bank's own systems, both in terms of code and process.
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?
Credit Card
KKB was established, under banking law, to enable the exchange of all kinds of information and documents among at least five banks, and it also shares credit information about customers. The Credit Bureau of Turkey also serves deposit banks, participation banks, financial institutions, and more.
Credit Card
What is BKM Express? BKM Express is a technical infrastructure solution developed by BKM that lets you pay securely for online purchases without sharing your card's full details. What are the advantages of BKM Express? To register your card you don't need to enter all…
Merchant & POS
Address Verification Service (AVS) is a fraud prevention system that helps limit fraud and chargebacks when used effectively. It verifies that the address a customer enters matches the cardholder's address on file with the issuer.
Chargeback
The MasterCard and Visa chargeback reason codes that always, sometimes or never require a draft retrieval before a chargeback, with their descriptions. Includes Visa codes such as 60, 75, 79 and 81 and MasterCard codes 4801 and 4802.
Online & Authorization
Below are the possible response code values for offline transactions and their explanations: Response Code / Explanation - Y1: Approved offline, Z1: Declined offline, Y2: Approved after referral, and more.
Merchant & POS
CAVV and AAV are verification codes used in 3D Secure transactions to ensure transaction integrity and security. CAVV is used by Visa, while AAV is used by Mastercard.
ISO 8583
F124 (Private Additional Data) contains additional information specific to the transaction, such as Card Update Failure Code and Status, cardholder name in money transfers, and keys in network management messages.