Merchant & POS
What does Not Onus mean?
Not Onus is a payment systems term meaning "Not On Us": a situation where the card-issuing bank and the POS/ATM (acquiring) bank differ. Such transactions are settled through clearing between the two banks.
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"issuer"
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Merchant & POS
What Happens During Authorization?
Today, credit cards play an important role in our daily lives. We can carry out almost all of our transactions without carrying cash, using our credit card instead. During a purchase, we hand our card to the cashier and enter our PIN at the POS terminal.
Credit Card
What are SDA, DDA, and CDA?
SDA (Static Data Authentication), DDA (Dynamic Data Authentication), and CDA (Combined Dynamic Data Authentication) are offline data authentication methods used in chip cards. Learn how each one validates the card and the transaction.
Payment Systems
BRSA Publishes Draft Regulation Amending the Regulation on Debit Cards and Credit Cards
The BRSA has published a draft regulation amending the Regulation on Debit Cards and Credit Cards. It introduces the card scheme definition, a customer right to choose the card scheme, and an obligation for acquirers to define licensed schemes on merchant POS devices.
Chargeback
What Are the Domestic Exceptions to Chargeback Rules?
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.
Credit Card
What is ISO/IEC 7812?
ISO/IEC 7812 is a standard that primarily describes the card numbering system and the application and registration procedures. Identification cards, in physical or digital form, are an integral part of operations in many industries.
Chargeback
What is Arbitration?
Arbitration, by definition, is a dispute resolution method in which disputes are settled by arbitrators the parties choose themselves, rather than by official courts. In payment systems, it follows a chargeback when the issuer and acquirer cannot agree.
Merchant & POS
What Is an Offline Transaction?
When a chip card transaction is made at a POS, it may be approved by the card and the POS alone, without reaching any system (issuer or acquirer). When do the issuer and acquirer find out about it?
Credit Card
CVR (Card Verification Results)
CVR (Card Verification Results) refers to the results of checks performed on the card. In short, it can be described as keeping the card's transaction log. BYTE 1 Bit 8-7: 00 = The second GENERATE AC command returned an AAC cryptogram (decline)...
Merchant & POS
Can a Contactless Offline Transaction Occur?
A contactless offline transaction can occur. If the amount is lower than the floor limit defined on the POS and the card also allows offline authorization, the transaction can be completed offline. Offline transactions are periodically sent by the POS to the acquiring bank.
Security
What Is Forgery in Card Payments?
Forgery in card payments means transactions made with card details without the cardholder's knowledge, or purchases with counterfeit or stolen cards. Merchants cannot eliminate fraud and chargeback risk, but they should aim to reduce it to reasonable levels.
Payment Systems
What Is TCR (Transaction Record Component)?
TCR stands for Transaction Record Component, the packets that carry transaction information in a clearing system. Transaction types in a clearing file are distinguished by transaction code and usage code values, and this data is sent inside TCR packets.