Search
302 articles found
Credit Card
Yes. A certificate must be generated for every new BIN and loaded onto the card chip, establishing secure communication between the chip and the terminal. This is especially critical for verification in offline transactions.
Laws & Regulations
A prepaid card used only in brand X's stores is considered to be used “only within a limited network of service providers”, and therefore outside the scope of the Law under Article 18(5). Each business model must still be assessed separately.
Credit Card
A business card is a card corporate companies use to manage their financial transactions. The application is made in the company's name, and a virtual primary card that is not physically printed is created for the company. Additional cards are then issued to users.
Laws & Regulations
BKM (Interbank Card Center) membership is available in 3 statuses: bank, institution or HSK. This post explains the eligibility criteria for each status, the 12-month certification requirement and the BKM fee principles.
Laws & Regulations
A prepaid card used only for transport is considered to be used “only to purchase a limited range of services” and therefore outside the scope of the Law under Article 18(5). Each business model must still be assessed separately.
Credit Card
A co-badge card is issued under two or more payment schemes (Mastercard, Troy, Diners Club, Discover, etc.). If a bank's product supports multiple schemes, customers can request a card carrying two or more payment brands.
Merchant & POS
On-Us Leakage is a term used in the world of payment systems. On-us means the card-issuing bank and the POS-acquiring bank are the same. So what does on-us leakage mean in this context?
Credit Card
A single BIN cannot be used to issue both a credit card and a debit card. If a bank offers both products, it has at least two different BINs, allocated and announced separately by card type.
Credit Card
A co-branded card is a card offered by two or more organizations: one the issuing financial institution, the other a non-financial commercial brand (there may be more than one), such as an airline, hotel, or retail chain.
EMV
DAC is the abbreviation for Data Authentication Code. It is a piece of data assigned by the issuer and held by the terminal during the Signed Static Application Data verification process.
Merchant & POS
Open authorization covers the period between authorization, POS batch close, the bank's end-of-day process, and clearing. Learn which steps allow cancellation versus refund, and what a cardholder should do.
Payment Institutions & E-Money
On 7 October 2023, the CBRT amended the Communiqué on Information Systems of Payment and E-Money Institutions and Data Sharing Services of Payment Service Providers, first published on 1 December 2021. Links to the new text, a comparison table and a detailed summary of changes follow.