Merchant & POS
Don't Dismiss the POS Receipt
In daily credit card purchases, the POS produces two receipts: the Customer Copy and the Merchant Copy. The cardholder gets the customer copy; the merchant keeps its own copy by law.
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"merchant acquiring"
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ISO 8583
ISO 8583 Field Descriptions (F18)
F18-MERCHANT TYPE: This is the merchant's category code (MCC) information. It must contain values from the Mastercard or Visa MCC Code list. It is a 4-digit numeric value. For ATM transactions, MCC code 6011 should be sent. The role of MCC in authorization...
Payment Institutions & E-Money
Amendments Made to the Communiqué on Information Systems of Payment and Electronic Money Institutions and Data Sharing Services of Payment Service Providers
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.
Merchant & POS
What are Payment Scheme 3D Secure systems?
3D Secure is short for Three Domain Secure (Issuer Domain, the Interoperability Domain and the Acquirer Domain), used to increase security in online transactions. Known to cardholders as 3D Secure, these systems are given unique names by payment schemes (MasterCard, Visa, etc.).
Security
What Are the Visa and Mastercard Fraud Codes?
Fraud means obtaining unjust gain by carrying out a transaction at a merchant or ATM using someone else's credit card or debit card, causing a loss to the real cardholder, the merchant, or the bank. So what fraud codes do Visa and Mastercard use?
ISO 8583
ISO 8583 Field Descriptions (F42)
F42 - CARD ACCEPTOR IDENTIFICATION CODE: the merchant number of the terminal where a transaction took place. It is a 15-character alphanumeric value. Transactions are settled to the merchant's account based on the merchant number in this field.
Credit Card
What are MasterCard Warning Notice and Visa Card Recovery Bulletin?
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'.
Merchant & POS
Terminal Action Code (TAC)
These are codes placed into the terminal software by the acquirer that govern the rules for whether transactions go online or are declined, covering offline approval, offline decline, and online submission due to issuer risk...
Payment System Institutions
What is EPI (European Payments Initiative)?
The European Payments Initiative (EPI), formerly known as PEPSI, is an ECB-backed payment integration initiative aiming to build a pan-European payment system and interbank network to rival Mastercard and Visa. Its founding members include BBVA, BNP Paribas, CaixaBank, Commerzbank and others.
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.
Credit Card
I can't use my card for e-commerce transactions. What could be the reason?
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
What is On-Us Leakage?
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?