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Payment Systems
Under the EU Digital Markets Act, Apple will let third-party developers in the European Economic Area offer NFC contactless payments inside iOS apps without Apple Pay or Apple Wallet, opening the way for banks and payment services to launch their own tap-to-pay solutions.
Payment Systems
Contactless payment has greatly improved the user experience, yet its fixed transaction limit is a common complaint. Can this limit be managed dynamically per customer? This post covers the current situation, technical and regulatory requirements and the outlook.
Payment Systems
One of the most notable recent developments in card payments is that contactless limits are no longer fixed and can be managed dynamically per customer. Mastercard and Visa are taking different but complementary approaches, and ISO 8583 may need to evolve with them.
Merchant & POS
Partial Authorization lets an issuer approve part of a transaction instead of declining it when the balance or limit is insufficient. This post covers how it works in ISO 8583, whether it is mandatory, and why it matters for the business.
Merchant & POS
Payments made over the internet are called digital payments. Card payments, cryptocurrency, and online banking transfers all fall within the scope of digital payment, along with mobile wallets and QR code payments.
HCE
A tokenized card number replaces a physical card number so transactions can be carried out securely. It is generated by the TSP (Token Service Provider), used by the cardholder or merchant, and travels across the payment systems network.
Credit Card
If your card's chip won't read, the chip data is likely corrupted or the POS's chip reader is faulty. This is usually caused by magnetic interaction with another card's chip.
Contactless
It is important to use contactless cards to prepare our payment habits for the future. In Turkey, one in every 3 cards and one in every 4 POS terminals is contactless-enabled, yet usage remains around 5%.
Merchant & POS
Mobile phones are entering our lives more every day. One study found people forget their wallets more often than their phones. This post explains how to buy fuel with TOTAL Mobile Payment and BKM Express without getting out of the car.
Payment Institutions & E-Money
Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions defines a payment instrument as a personalized device such as a card, mobile phone, or password.
Merchant & POS
In the first post I explained what closed-loop payment systems are and how they differ from open-loop ones. Many of the replies I received boiled down to one question: how do these systems actually work behind the scenes once a QR code is scanned?
Security
Before 3D Secure 2.0, let's explain what 3D Secure is. 3D Secure is a two-layer payment authentication system that protects both the cardholder and the merchant in online payments. First released by Visa in 1999, it was later adopted by other card schemes…