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Credit Card
Troy is Turkey's national payment system scheme, short for "Turkiye's Payment Method." When Troy cards first launched, they could only be used domestically. A partnership with Discover later made it possible to use Troy cards abroad as well.
Credit Card
First, let's briefly explain CVV/CVC. CVV stands for Card Verification Value, a term used for Visa. CVC stands for Card Verification Code, a term used for MasterCard. The CVV/CVC code is used for cardholder verification and to reduce fraud risk.
Payment System Institutions
The European Payments Initiative (EPI), formerly known as PEPSI, is an ECB-backed payment integration initiative aiming to build a pan-European payment system and interbank network to rival Mastercard and Visa. Its founding members include BBVA, BNP Paribas, CaixaBank, Commerzbank and others.
Open Banking
EPSM is a non-profit trade association that represents its members' interests and enables the exchange of news, information and opinions about the European payments market.
Credit Card
Major Industry Identifier (MII) is the first digit of a credit card number, representing the category of the institution that issued the card. The MII values and their corresponding categories are listed below.
Payment Systems
The Hidden Side of the Payments World. The words a person working in the payment systems industry hears most over a career are probably Visa, Mastercard, POS, debit card, virtual POS, acquiring and card issuing. Frankly, my own career did not unfold very differently from that journey...
General
Who will win in Agentic Commerce? Owning the customer used to be a huge advantage. Once an agent starts deciding on the customer's behalf, where does the real power move to?
Merchant & POS
QR code payments are growing, but without a common QR structure each code only works locally. EMVCo published a standard QR data structure so all payment schemes can share one QR code format at merchants.
Payment System Institutions
TROY, Türkiye's domestic payment method founded by the Interbank Card Center (BKM) and licensed by the BRSA and the Central Bank in March 2016, is being spun off into a separate company.
Merchant & POS
A Card Recovery Bulletin is a list of problem cards (lost, stolen, expired, over-limit, counterfeit or otherwise flagged) published by card schemes such as Visa or MasterCard. It shows whether a card number is listed on the date of purchase.
Payment Systems
After Russia invaded Ukraine, Visa and Mastercard suspended services for sanctioned Russian banks. This post explains the impact on cardholders and merchants, and Russia's MIR and UnionPay alternatives.
Credit Card
Banks must go through a costly, arduous process to issue cards (issuer) and accept cards (acquirer), paying high entry fees to international license providers and local organizations such as BKM.