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Online & Authorization
In payment systems, the term transaction refers to the operations performed. Each transaction has its own distinct characteristics. For example, a Sale made from a POS differs from a Sale Cancellation or a Cash Withdrawal made from an ATM.
Merchant & POS
BKM publishes card usage data every three months. In the first half of 2020, card payments reached TL 500 billion, contactless payments tripled, and online card payments surged in the electronics and clothing sectors.
Debit Card
The use of prepaid cards, and the number of prepaid cards issued by e-money institutions, has risen sharply. This post looks at why, how to choose a card, and which fees prepaid cards charge.
ATM
CDM is short for Cash Deposit Machine. It refers to ATMs that allow you to deposit money directly into your account using a card. You can use CDM ATMs to carry out transactions on your account without visiting a branch.
Merchant & POS
A smart cash register is a new-generation, IP-based payment recording device that integrates a cash register with a POS terminal. It combines fiscal devices and POS devices in a single unit and transmits data to the Ministry of Finance in real time.
Credit Card
A credit card is a payment instrument that lets a customer borrow up to a limit set by the bank after evaluating certain criteria. Transactions made on the card are first recorded in the current-period transactions, then posted as debt on the statement date.
Credit Card
Yes. Banks may reject limit increase requests based on their assessment of a person's economic and social situation, credit score and similar information.
Merchant & POS
The term 'provizyon' comes from French and means obtaining approval for a transaction. In payment systems, authorization confirms that the card, POS, bank account, and transaction limits are sufficient to complete a payment.
Credit Card
Nearly all transactions where credit and debit cards are used physically require a PIN. The PIN represents the cardholder's identity. Here is what happens if a customer enters the wrong PIN too many times and how the card is restored.
Payment Systems
In POS applications and on the merchant side, we use the term Batch in a similar way to end of day. Every transaction made via POS is held under a batch number reported to the HOST at end of day.
Chargeback
Chargeback is inherent to card transactions, so it may be impossible to prevent entirely, but taking precautions keeps the risk to a minimum. Here are the key points merchants should pay attention to in order to reduce chargebacks.
Merchant & POS
What's the difference between a reversal and a cancellation (void)? Both zero out a transaction's financial effect, but they're triggered in very different ways.