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Credit Card
CVV is a very critical 3-digit value used during a card's authorization process. The CVV value is encoded in the card's magnetic stripe data (Track 1 and Track 2). Is it generated by an algorithm or chosen at random?
Credit Card
CVV is short for Card Verification Value, a term used by Visa. CVC is short for Card Verification Code, a term used by MasterCard. The CVV/CVC code is used for cardholder verification and to reduce fraud risk.
Credit Card
The service code is information printed on a card's Track 1 and Track 2 data, covering card type, PIN usage, and domestic/international usage status. It is kept at the product level in bank systems.
Credit Card
The BRSA raised the card limit threshold used to set the minimum payment rate from TRY 50,000 to TRY 100,000. This post explains what changed, why now, the short-term relief, the risk of carried-over balances, and which data to watch.
Payment Systems
The BRSA has introduced a regulation to reduce paper use in POS devices. Cardholders who do not want a paper receipt for card purchases will be able to receive and store it digitally, with the rules taking effect in September and December 2023.
Payment Systems
Elon Musk was set to unveil Neuralink, a brain-computer interface. What is Neuralink, and how might payment systems change if payments, cards, ATMs and POS devices move from phones to a chip in the brain?
ISO 8583
DE 11 - SYSTEMS TRACE AUDIT NUMBER: A 6-digit unique numeric value generated by the message originator, enabling unique tracking of the transaction. How is STAN generated?
ISO 8583
F37-RETRIEVAL REFERENCE NUMBER is a code generated by the bank that initiates a transaction, used to uniquely track it. It is a 12-character alphanumeric value.
Online & Authorization
The Application Transaction Counter is the number of transactions made with the card so far. It increases by 1 with each transaction and can also be used as a transaction number, making transactions easier to track.
Merchant & POS
The batch number is kept on the POS, incremented by 1 at each end of day, used to transfer transactions to the merchant account and for reconciliation. It's tracked on both the POS and the bank's system.
Merchant & POS
The batch number is kept on the POS, incremented by 1 at each end of day, used to transfer transactions to the merchant account and for reconciliation. It's tracked on both the POS and the bank's system.
ISO 8583
We covered the ISO 8583 basics in an earlier article. This post explains the ISO 8583 message structure in detail: every ISO 8583 message consists of three main parts - the MTI (Message Type Indicator), the Bitmap, and the Data Elements.