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Credit Card
Due to how payment systems work, authorization is obtained first for a transaction. For a Not Onus transaction (where the card-issuing bank and the POS bank are different), the system waits for the relevant transaction to arrive via the clearing incoming file…
General
Who will win in Agentic Commerce? Owning the customer used to be a huge advantage. Once an agent starts deciding on the customer's behalf, where does the real power move to?
Merchant & POS
Partial authorization lets an issuer approve part of the requested amount when the card lacks the full balance, with the rest paid another way. This post covers the technical, receipt, clearing, reconciliation, merchant and certification requirements for acquirers.
Merchant & POS
When a transaction is made through a POS, it is recorded both on the POS itself and in the acquiring bank's authorization system. At batch close, the POS sends all its transactions to the bank, which reconciles them against its own records.
Agentic Commerce
Are We Ready to Give an AI Agent the Authority to Make Payments? Having long looked at complaint and dispute processes in payment systems, I think granting an agent payment authority is far different from research or product selection.
Credit Card
The name for a list of problematic cards — lost, stolen, expired, over-limit, counterfeit, or otherwise flagged — published by card companies like Visa and MasterCard. Mastercard calls it the 'MasterCard Warning Notice'.
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.
Credit Card
When banks launch a new card product, they can do it under an existing BIN or a new one. A new BIN requires much more work: BKM announces it, every bank defines it and every POS has to download it.
Credit Card
If you can't use your card for e-commerce transactions abroad, first check that e-commerce authorization is enabled, that 3D Secure has been set up, and that your bank's authorization system is active. The issue may also originate from the merchant's bank.
Merchant & POS
Below are the definitions of the cornerstone terms of payment systems, as established by the Banks Association of Turkey (TBB): debit card, credit card, merchant, cardholder, and more.
Credit Card
DCI (Debit/Credit Indicator) is a flag that shows whether a transaction was made with a credit card or a debit card. With the arrival of prepaid cards, it began to be used as DCPI (Debit/Credit/Prepaid Indicator). Is DCI sent in the authorization message?
Payment System Institutions
According to the CBRT's official website, the Central Bank of the Republic of Turkey has become the controlling shareholder of the Interbank Card Center (BKM), using the authority granted by Law No. 7192.