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Payment Systems
Strong Customer Authentication (SCA) is a security requirement introduced under the EU's Payment Services Directive 2 (PSD2) to increase security and reduce fraud in online payment transactions. SCA requires two of three independent authentication factors.
Security
Personal data means any information relating to an identified or identifiable natural person, including not only names and birth dates but also physical, family, economic and social characteristics.
Security
In payment systems, personalized security credentials are information such as the PIN, card/account/e-money details, expiry date and security code (CVV) that identify the payment instrument and its user.
Payment Systems
One of the most notable recent developments in card payments is that contactless limits are no longer fixed and can be managed dynamically per customer. Mastercard and Visa are taking different but complementary approaches, and ISO 8583 may need to evolve with them.
Merchant & POS
Introduction: When a card (credit card/debit card/prepaid card) is used at an ATM or POS, data must be carried securely between systems. For example, in a store sale, the POS initiates the transaction, which must reach the cardholder's bank intact.
HSM & Security
The CPoC standard, issued by the PCI Security Standards Council in 2019, is a data security standard that lets merchants accept contactless payments using a commercial off-the-shelf (COTS) mobile device with NFC.
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.
Payment Systems
Every payment transaction completes in seconds, yet dozens of controls run behind the scenes. This post covers the precautions for authorization and clearing, the critical role of reversals, and the financial loss scenarios most often seen in the field.
Merchant & POS
The checkout page is where an online purchase is completed, and cart abandonment is highest there. This post lists design tips: support all cards, limit transition pages, show security cues, allow guest checkout and remove distractions.
Open Banking
Embedded Finance means integrating financial products and services into non-financial platforms, experiences or business processes. In other words, services offered by financial institutions become part of the product or service flows of non-financial organizations.
Merchant & POS
In payment systems, every exchange between POS devices and bank or payment institution systems runs on a specific messaging standard, generally based on ISO 8583. However, each country, bank, or switch network defines its own version of this standard.
Payment Systems
The domestic authorization flow for below-CVM-limit online contactless transactions has changed. Issuers can now ask the cardholder for a PIN or request card insertion instead of simply approving or declining. This post explains the CVM list and the new DE48 PDS22 and DE39 = 65 message flows.