Search
56 articles found
Credit Card
This communiqué sets the rules for managing information systems used in bank card and credit card transactions. Card scheme operators, issuers, acquirers, merchants and outsourced service providers are all within its scope.
Merchant & POS
The answer depends on the type of POS terminal. A physical POS (GPRS, Dial-Up, IP, or cash-register POS) requires working with a bank. A virtual POS can also be obtained from a payment institution without a separate bank agreement.
Chargeback
A chargeback is a dispute raised against a card transaction when the cardholder did not make it or does not recall it. The dispute types vary depending on the situation; let's look at them.
Merchant & POS
For a POS device to be issued to a customer, the customer must have a legal entity status, such as a sole proprietorship, commercial company, or foundation/association. POS devices cannot legally be issued to individual customers.
Payment Systems
FTS (Termination Tracking System) lets banks check, before signing a merchant agreement, whether the applicant company or its representative has a negative history with any bank.
Chargeback
Chargeback reason codes vary by card scheme. The Amex chargeback reason codes and their descriptions are listed below: American Express Chargeback Reason Codes A01 The charge you submitted did not receive a valid authorization approval code for the amount...
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?
ISO 8583
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...
Security
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?
Fraud
According to the Banks Association of Turkey, a fictitious transaction is a collusive transaction made by misusing POS devices, debit cards, or credit cards. Banks that detect such transactions through merchants report them to the Banks Association of Turkey.
Merchant & POS
Mail order transactions are preferred by cardholders because they only block the card limit by the installment amount, creating a sales opportunity for merchants. But is the remaining balance guaranteed?
HSM & Security
Non-face-to-face transactions in which the cardholder authorizes the merchant to store card data, and the merchant uses that stored data to carry out the transaction, are called Credential-on-File (CoF) transactions.