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Payment Systems
EAST, the European Association for Secure Transactions, is a non-profit organization working on ATM, terminal and payment security. It was founded in 2004 as the European ATM Security Team.
Clearing
In card transactions via POS/ATM, when the card-issuing bank differs from the POS/ATM bank (Not Onus), the transaction is subject to clearing. Below, POS can also mean ATM. Is the clearing system a single type? No...
Payment Systems
In payment or cash withdrawal transactions, the TR QR Code is generated by the POS or ATM. The card issuing bank must build its systems to read and act on this code. Errors usually stem from mishandling the long and short QR code flows, which are explained here.
Fraud
With the growth of credit and debit card usage and rising e-commerce transaction volumes, there has been a serious increase in exploiting user negligence to harm customers. Fraud means using someone else's card at a merchant or ATM to gain unjust profit.
ATM
RKL is the process of distributing a TMK (Terminal Master Key) to each terminal from a central point. It is used to remotely load keys onto POS and ATM devices, loading TMKs onto an ATM's keypad or activating them on a POS.
Merchant & POS
In the payment systems glossary, some terms are essential, including Onus. Onus literally means "on us" and refers to cases where the card-issuing bank and the POS/ATM bank are the same, meaning no clearing commission applies.
Credit Card
Digitalization is reshaping payment systems. Credit cards are moving from physical plastic to virtual cards, e-wallets and mobile payments. Will physical card use disappear completely? Here is a look at the trends, Generation Z and the remaining gaps.
Credit Card
When the card-issuing bank and the POS bank are different, first obtaining authorization and then running the clearing process to finalize the transaction is called Dual Messaging. So why is a dual message structure needed?