Online & Authorization
What is EMV?
EMV stands for Europay, Mastercard and Visa. In 1994 these companies formed a working group to set chip-card standards, leading to the EMV standards used worldwide today.
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"fraud management"
38 articles found
Laws & Regulations
What are the regulations and legal obligations of payment institutions?
A payment institution is a legal entity that provides payment services for electronic payments through the infrastructure it offers. This article covers the Turkish regulatory framework, licensing, safeguarding, supervision, penalties and taxation.
Payment System Institutions
What are the committees in the BKM system?
BKM (Interbank Card Center) works through several committees: Security, Operations and Technology, Market Development, Business Development, Chargeback Rules and Arbitration, ATM Sharing, plus arbitration committees. This post outlines each one's duties.
Agentic Commerce
Agentic Commerce Series – Part 4
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
Preventing Financial Losses in Payment Systems: Authorization, Clearing, and the Reversal Mechanism
Every payment transaction completes in seconds, yet dozens of controls run behind the scenes. This post covers the precautions for authorization and clearing, the critical role of reversals, and the financial loss scenarios most often seen in the field.
Payment Institutions & E-Money
What are the requirements to become a representative of a payment institution or e-money institution?
The requirement for natural and legal person representatives is set out in Article 13(7) of the Regulation and refers to Article 8(1)(d) of Law No. 5411, which excludes persons convicted of certain offenses.
From My Readers
Is there an SMS notification structure for Mail Order transactions?
I occasionally receive questions from my readers, and I answer them by email or through other channels. Since others may have similar questions, I will publish these questions on my site along with the answers. Hello Mr. Arif, I read your articles from time to time and...
Credit Card
What Are the Advantages and Disadvantages of a Credit Card?
Credit cards can be a convenient way to manage income and expenses, but for those who don't know how to use them, they can become an expensive and risky product. Here are the key pros and cons to weigh before applying for one.
Online & Authorization
Shopping Directly from ChatGPT: A New Era with Agentic Commerce
OpenAI and Stripe announced the Agentic Commerce Protocol (ACP), with Instant Checkout live on Etsy and Shopify in the US. What this means for payment facilitators and e-commerce platforms, and what may come beyond one-click checkout.
Online & Authorization
Why Do Your Payments Fail? How Funds Confirmation APIs Solve It
You press the pay button and the screen says the transaction failed. Behind that failure are checks on your balance and transaction security. This post explains how funds confirmation APIs work, where they apply, and the situation in Turkey's open banking.
Payment Systems
What are offline transaction parameters? Can you give examples of how offline transactions are reported to the HOST?
Offline transaction parameters are divided into two types: contact offline and contactless offline. These parameters can be managed separately through Terminal data and Chip data. Offline transactions can be reported to the HOST after an online transaction, after X occurrences, and more.
Cryptocurrency
What Are the Terms Used in the Cryptocurrency World?
Cryptocurrencies are becoming part of everyday life and are expected to compete seriously with card payments. This glossary explains the key crypto terms, from address, altcoin and arbitrage to halving, mining, proof of stake and stop-loss.