Search
36 articles found
Payment Systems
Know Your Customer, in short, means identifying your customer. The process by which institutions identify their customers and determine their suitability for a business relationship and the risks they may pose is called KYC.
Credit Card
The ISO/IEC 7810 standard is an international standard that defines the physical characteristics of cards (credit cards, ATM cards, ID cards, etc.) such as physical dimensions, bending, flame and chemical resistance, temperature and humidity resistance, toxicity, and flammability.
Open Banking
NextGenPSD2 is the set of API standards launched by the Berlin Group in 2017, now involving more than 1,700 banks from 20 countries. This post explains what the framework offers to banks, fintechs and third-party providers under PSD2.
Merchant & POS
Isbank, a leading player in accepting payments from abroad in Turkey, has started accepting Discover and Diners Club cards via an agreement with Discover Financial Services, making it the bank accepting the most card brands in the country.
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.
Credit Card
A prepaid card is a customized card, with or without a chip, not linked to a bank account and without a credit limit like credit cards, letting you spend only the amount loaded onto it.
EMV
The AID tells the terminal which applications are present on a chip during a POS or ATM transaction. What does the AID do? It lets the terminal determine whether it supports an application on the chip. In Tag 9F06, it is 5-16 digits long.
Merchant & POS
BKM (Interbank Card Center) shared 2018 developments in card payments and the cashless society goal in Turkey. The data shows card payments becoming a bigger part of daily life every year.
Credit Card
A co-branded card is a card offered by two or more organizations: one the issuing financial institution, the other a non-financial commercial brand (there may be more than one), such as an airline, hotel, or retail chain.
ATM
A Bitcoin ATM (BTM) is a specialized kiosk designed for Bitcoin transactions, letting users buy and sell Bitcoin. General features: it enables Bitcoin purchases and sales, and while it visually resembles traditional ATMs...
Merchant & POS
The MCC code, or Merchant Category Code, is a 4-digit code used to classify merchants. Some MCC codes are restricted or prohibited, and POS terminals or card transactions may be blocked when such a code is used.
Credit Card
Legally, e-commerce sites should not store card details in their own systems; they should only use them when sending transactions. Unfortunately, some sites do not follow this rule.