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Payment Systems
A non-secure transaction is an e-commerce transaction approved without any verification before authorization, such as SMS OTP. In short, authorization is obtained by verifying only the card number, expiration date, and CVV2.
Security
Access Security Control (ACS) is the security protocol that the card-issuing bank must maintain under the 3-D Secure protocol to support cardholder authentication. 3-D Secure is an XML-based protocol that adds an extra security layer to online card payments.
Merchant & POS
Today, as credit cards shift from physical to virtual use, a similar move has come from the POS side. We have begun to see mobile phones used as POS devices becoming a serious rival to physical POS terminals.
Security
Fraud cases where scammers pose as bank staff or other institution employees to obtain citizens' banking information have increased significantly recently. Interestingly, the new fraud trend closely mirrors the steps of a genuine banking procedure.
Merchant & POS
The Secure Mobile Payment System is a system permitted by the Ministry, operated under the Revenue Administration (GIB) Communiqué, for sales, payment and collection transactions and the electronic creation, transmission and retention of the related financial documents.
Fraud
Fraud management is used to detect possible fraud on customer accounts and provides additional security for transactions when necessary, making it one of the top priorities for banks.
Security
PAM (Personal Assurance Message) is a message that users set up for 3D Secure transactions. It appears on the password screen during checkout and confirms to the user that the screen truly comes from their own bank.
Payment Institutions & E-Money
VUK 507 is the common name of Tax Procedure Law General Communique Serial No. 507, published in the Official Gazette on 1/6/2019 on the Secure Mobile Payment and Electronic Document Management System. It sets the rules for sales, collection and electronic document applications.
Security
Credit cards are one of the most important payment instruments in daily life. As technology advances and mobile payments and ATMs handle nearly all transactions, credit card fraud is also diversifying and increasing.