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Closed-Loop Payments
Why does a coffee chain build its own loyalty program, and why does a payment app keep adding services? This post looks at how loyalty, data, and new services drive the growth of closed-loop payment systems, and at the financial layers behind that growth.
Credit Card
Debit cards and prepaid cards are generally closed to mail order transactions. Mail order authorization is held on credit cards. Unless specifically requested at application, a card is issued closed to mail order transactions.
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...
Credit Card
What is BKM Express? BKM Express is a technical infrastructure solution developed by BKM that lets you pay securely for online purchases without sharing your card's full details. What are the advantages of BKM Express? To register your card you don't need to enter all…
Payment Systems
A non-secure transaction is an e-commerce transaction approved without any verification before authorization, such as SMS OTP. In short, authorization is obtained by verifying only the card number, expiration date, and CVV2.
Payment Systems
In payment systems, an “appeal” is the process of objecting to the outcome of a transaction dispute. It is usually discussed alongside chargebacks, but it plays a critical role in interbank dispute resolution, when a party asks the card scheme to re-evaluate a concluded decision.
Merchant & POS
An offline transaction is one approved by the card and the POS themselves, without going to any system (the card's bank or the POS's bank), when a chip card transaction is made at a POS. For this reason, some sectors considered risky are restricted.
E-commerce
AI agents are moving beyond answering questions to searching, deciding, and paying on behalf of users. This post explains Agentic Commerce and what it means for payment systems, digital wallets, e-money institutions, banks, and fintechs.
ISO 8583
F18-MERCHANT TYPE: This is the merchant's category code (MCC) information. It must contain values from the Mastercard or Visa MCC Code list. It is a 4-digit numeric value. For ATM transactions, MCC code 6011 should be sent. The role of MCC in authorization...
Merchant & POS
When a transaction is made through a POS, it is recorded both on the POS itself and in the acquiring bank's authorization system. At batch close, the POS sends all its transactions to the bank, which reconciles them against its own records.
Payment Institutions & E-Money
Payment and electronic money institutions have achieved a lot recently in market share and the momentum they have brought to the industry. Here is where to find a list of payment facilitators worldwide.
HCE
Tokenization generates secure data from a credit card number, using specific algorithms, for use during authorization. In CNP transactions, it removes the risk of storing or compromising the original card number.