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Merchant & POS
BKM TechPOS is a merchant and POS management infrastructure provided by BKM. Banks need to allocate physical/virtual/ECR POS terminals to merchants in order to establish a merchant relationship with their corporate or sole-proprietor customers.
Merchant & POS
Loyalty points are promotional rewards banks give customers for credit card transactions, tracked on a card/customer basis. Banks charge merchants a commission on POS transactions, and some share part of that commission with cardholders as points.
Payment Systems
Let's talk about payment systems, which we have heard more about since the internet entered our lives, and the basic structures behind them. The first credit card in the world was used in America in the 1920s.
Merchant & POS
A smart cash register is a new-generation, IP-based payment recording device that integrates a cash register with a POS terminal. It combines fiscal devices and POS devices in a single unit and transmits data to the Ministry of Finance in real time.
Merchant & POS
Merchants can run the end-of-day process by triggering it from the POS device or app for transactions made there. Banks can also run it centrally on merchants' behalf. The end-of-day process sends the POS's transaction totals to the bank's host system.
Merchant & POS
For a POS device to be issued to a customer, the customer must have a legal entity status, such as a sole proprietorship, commercial company, or foundation/association. POS devices cannot legally be issued to individual customers.
ISO 8583
F41 - CARD ACCEPTOR TERMINAL IDENTIFICATION: the terminal where a transaction took place. An 8-character alphanumeric value generated by the acquirer bank and assigned to the POS, managed as a unique terminal number at the acquirer.
ISO 8583
F42 - CARD ACCEPTOR IDENTIFICATION CODE: the merchant number of the terminal where a transaction took place. It is a 15-character alphanumeric value. Transactions are settled to the merchant's account based on the merchant number in this field.
Merchant & POS
To accept a card brand such as Mastercard or Visa, a POS must be certified for that brand. Which brands a POS accepts is the bank's decision.
ISO 8583
DE 38 (AUTHORIZATION IDENTIFICATION RESPONSE) is the authorization code generated when a transaction is approved. It is alphanumeric, 6 characters long, and left empty for declined transactions.
Merchant & POS
Virtual POS is the software-based, security-enhanced equivalent of the physical POS devices used for card payments at merchants, designed for online shopping. It is not issued to individual customers, only to sole proprietorships, companies, or foundations and associations.
Merchant & POS
Cashback is a modern POS terminal service that allows cash to be withdrawn from the merchant's till while paying for goods and services. Although cashback is a feature specific to debit cards, you can also withdraw cash from an ATM...