Clearing
What is Chip Condition Code?
Chip Condition Code is a code carried in the F60 (Additional Data) DE14 field during clearing that shows the chip read status. The possible values and their descriptions are listed below.
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"card scheme rules"
37 articles found
EMV
What are EMV Schemes?
EMV standards form the foundation for chip cards to work on terminals worldwide, but each scheme - VSDC (Visa), M/Chip (Mastercard), AEIPS (Amex), J Smart (JCB), D-PAS (Discover), and UICS (UnionPay) - defines its own keys, rules, and card profiles.
Security
What Is a Quarterly Network Scan?
An external network scan run every 3 months by an Approved Scanning Vendor authorized by card schemes such as MasterCard and Visa, required for PCI DSS compliance. It checks whether merchant systems are protected against external threats.
Merchant & POS
Can a contact/contactless transaction be processed offline?
An offline transaction is one in which the card and POS terminal approve the transaction based on their own parameters, without contacting their banks. Whether contact or contactless, the device decides whether the transaction is processed offline.
Merchant & POS
What Is Opt Out?
In online transactions, Opt Out is the cardholder exercising the right not to enroll in 3D Secure. It is not unlimited: only as many transactions as the issuer allows can be made without 3D Secure.
Fraud
Do Cardholders Have the Right to Dispute Transactions Made Without Their Knowledge?
Yes. Cardholders have the right to dispute transactions made with their cards without their knowledge. Here is how the process, known as a chargeback, works.
Merchant & POS
What Is an MCC (Merchant Category Code)?
MCC stands for Merchant Category Code: a 4-digit code used to classify merchants by business type. Codes differ slightly between Mastercard, Visa, and BKM.
Security
What Is Forgery in Card Payments?
Forgery in card payments means transactions made with card details without the cardholder's knowledge, or purchases with counterfeit or stolen cards. Merchants cannot eliminate fraud and chargeback risk, but they should aim to reduce it to reasonable levels.
Credit Card
What Is BKM Online (BOL)?
BKM Online is the web-based electronic system that enables communication and information sharing between BKM and its members, including documents, reports, services and work calendars, according to user permissions.
Payment Systems
What Are the Mastercard Transaction Processing Rules? How Can I Access Them?
The rules in this guide relate to the processing of Transactions and Payment Transactions made with Mastercard-branded cards. Here are the key definitions and where to find the document.
Payment Systems
What Is an Appeal? What Does It Mean in Payment Systems?
In payment systems, an “appeal” is the process of objecting to the outcome of a transaction dispute. It is usually discussed alongside chargebacks, but it plays a critical role in interbank dispute resolution, when a party asks the card scheme to re-evaluate a concluded decision.
Agentic Commerce
Agentic Commerce Series – Part 4
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.