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101 articles found
HSM & Security
The CPoC standard, issued by the PCI Security Standards Council in 2019, is a data security standard that lets merchants accept contactless payments using a commercial off-the-shelf (COTS) mobile device with NFC.
Merchant & POS
The digital form of Point of Sale (POS) systems is called Digital POS. There is also a software-only subtype called Virtual POS. After Mobile POS (mPOS) and Virtual POS usage became widespread, the term digital POS came to refer to these two products.
ATM
Jackpotting describes a method criminals use to steal money from ATMs. With physical access to the machine, they take control of it and make it dispense all of its cash.
ATM
Banks generally prefer to handle their own ATM software and operations. Some banks have third-party firms develop the software while handling operational processes themselves, so each bank ends up doing separate work for both.
Merchant & POS
The EMV Level 1 standard refers to an important global payment industry specification defining the electrical and physical interface between credit and debit cards and the payment terminal (ATM/POS). The EMV Contactless Level 1 certification guarantees that the device…
Fraud
With the growth of credit and debit card usage and rising e-commerce transaction volumes, there has been a serious increase in exploiting user negligence to harm customers. Fraud means using someone else's card at a merchant or ATM to gain unjust profit.
Merchant & POS
A POS is a functional device with its own dedicated software, customized to the authorization system of the bank it is connected to, that accepts credit or debit cards. The POS and the authorization system communicate using the ISO 8583 standard.
Agentic Commerce
Are We Ready to Give an AI Agent the Authority to Make Payments? Having long looked at complaint and dispute processes in payment systems, I think granting an agent payment authority is far different from research or product selection.
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.
Payment Systems
Digitalization keeps changing the speed and shape of payments. AI-based payment agents pay on their own within user-defined limits and rules, completing transactions without the user initiating any action. This post explains how they work and what to watch for.
Payment Systems
The rules in this guide relate to the processing of Transactions and Payment Transactions made with Mastercard-branded cards. Here are the key definitions and where to find the document.
Payment Systems
Why do institutions track inefficient POS terminals and lines? This post looks at the costs they create, such as device purchases, field service and software fees, and how to deal with merchants that generate little turnover.