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116 articles found
Merchant & POS
Magnetic Secure Transmission (MST) is a mobile payment technology in which devices such as smartphones emit a signal that mimics the magnetic stripe on a traditional payment card, letting a physical card's POS use be imitated without upgrading terminal software or hardware.
Online & Authorization
HCE lets a mobile device's operating system emulate the cards we use daily (credit, debit, gift cards, etc.) to make contactless payments via NFC. In other words, our phones behave like the cards we use for payments.
Credit Card
It is a CVV2/CVC2 code that changes every few minutes instead of the static code printed on the back of a credit card, aimed at reducing fraud risk in CNP (Card Not Present) transactions.
Merchant & POS
Payment systems once meant a physical card and a PIN on a POS device. Digitalization that began with contactless transactions has accelerated with mobile payments, and MasterCard is now working on voice shopping and Soft POS in Turkey.
Payment Institutions & E-Money
Online shopping keeps growing, and e-commerce sites must choose between working with a bank or a payment institution. This article explains why a single application and integration with a payment institution can be the better route.
HCE
Generating a token from the card number is essential to the security of payments made with mobile devices. The level of tokenization used depends on the need and on how critical the token is. Static tokenization: the token is generated once and stored in a database.
ATM
Many banks now let customers deposit cash by scanning a QR code with their mobile banking app instead of inserting a card at the ATM. This speeds up the transaction, reduces card skimming risk, and adds an extra layer of security through in-app verification.
Credit Card
Debit cards and prepaid cards are generally closed to mail order transactions. Mail order authorization is held on credit cards. Unless specifically requested at application, a card is issued closed to mail order transactions.
Merchant & POS
In e-commerce transactions, the system developed to increase transaction security for payments made with credit and debit cards is called 3D Secure. When paying with 3D Secure, a special payment screen provided by the banks appears on the user's screen.
Credit Card
Person-to-person payments (P2P) is an online technology that lets users transfer money from their bank or credit card accounts to another person's account over the internet or a mobile phone. Examples of such apps include PayPal, Venmo, and Cash App.
Credit Card
Digitalization is reshaping payment systems. Credit cards are moving from physical plastic to virtual cards, e-wallets and mobile payments. Will physical card use disappear completely? Here is a look at the trends, Generation Z and the remaining gaps.
Credit Card
First, your card must be enabled for e-commerce transactions, with domestic and international authorizations usually managed separately. Second, your card must be eligible for 3D Secure transactions.