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Chargeback
A chargeback is the refund of an amount paid by credit card to the cardholder's card when the purchased goods or services were not received, or when a transaction was not actually carried out by the cardholder.
Merchant & POS
Cardholders may request a refund through the merchant for POS transactions due to wrong deliveries, returned goods and similar reasons. Here is the information a refund receipt must contain, including extra fields for e-commerce.
Merchant & POS
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.
Merchant & POS
Contains the terminal-resident data objects (tags and lengths) that the ICC needs when processing the GET PROCESSING OPTIONS command. In short, it is the list of information the card requests from the terminal before starting the transaction.
Online & Authorization
TLV is a data storage method used to speed up the parsing of data. For example, reading data from a card's chip at a POS and carrying it through authorization uses the TLV structure.
Merchant & POS
Recurring billing is the automatic collection of payments at set intervals and amounts by storing the customer's card details on a secure, PCI DSS-certified infrastructure.
ISO 8583
We covered the ISO 8583 basics in an earlier article. This post explains the ISO 8583 message structure in detail: every ISO 8583 message consists of three main parts - the MTI (Message Type Indicator), the Bitmap, and the Data Elements.
Fraud
Fraud management is used to detect possible fraud on customer accounts and provides additional security for transactions when necessary, making it one of the top priorities for banks.
ISO 8583
F55 - INTEGRATED CIRCUIT CARD (ICC) SYSTEM RELATED DATA: the field where EMV data is written on chip cards. It consists of components such as Position, Private Data Subelements, PDS Tag, PDS Length, and PDS Value...
Credit Card
If you exceed your limit by no more than 20% and close it in the next statement period, no more than twice a calendar year, only contractual interest is charged on the excess amount. You pay no additional fee.
ISO 8583
F90 - ORIGINAL DATA ELEMENTS: the data elements from an original message, designed to identify the transaction in correction or reversal transactions. Subfields: Original MTI, Original DE 11 (STAN), Original DE 7, Original DE 32, Original DE 33.
Credit Card
A credit card is a payment instrument that lets a customer borrow up to a limit set by the bank after evaluating certain criteria. Transactions made on the card are first recorded in the current-period transactions, then posted as debt on the statement date.