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Credit Card
While reviewing your credit card statement, you suddenly notice a transaction you never made. What would you think? Is your card going shopping while you sleep? Let's look at how this can happen and what to do about it.
Payment Systems
mPOS is short for Mobile POS, a digital POS solution that enables payment acceptance via smartphones/tablets without a standard POS terminal. It is formed by combining a card reader with a mobile device such as a smartphone or tablet...
Merchant & POS
In Turkey, there are 3 payment schemes we are used to seeing: MasterCard, Visa, and Troy. American Express and Diners Club are also used, though less widely. Russia's Central Bank recently said two Turkish banks are preparing to accept Mir cards.
Credit Card
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.
Online & Authorization
A contactless transaction is a fast, secure payment made without direct contact between the card and the POS terminal (without reading the chip or magnetic stripe). Can every card be used for contactless payments? For a transaction to be contactless…
Merchant & POS
A POS batch close triggers reconciliation between the transactions under that batch number and the bank's records, and starts the transfer to the merchant's account.
Credit Card
As credit cards become more and more a part of our lives, we now make almost all our purchases without cash. We inserted our card into the merchant's POS. We made a 100 TRY sale transaction. We received a receipt confirming it was successful.
HSM & Security
TMK stands for Terminal Master Key, a key-encrypting key distributed manually or automatically under a previously established TMK. It is used to distribute data encryption keys to an ATM or POS terminal within a local network.
Credit Card
Track 1 is a special data set encoded on a card's magnetic stripe that contains the card information required for authorization when the card is used physically. It includes the cardholder name, card number, and expiration date.
Payment System Institutions
UnionPay Online Payments (UPOP) lets merchants in China, New Zealand, Australia and other countries extend their e-commerce stores to accept UnionPay payments. UnionPay supports over 5 billion cards in more than 140 countries.
Merchant & POS
The digital form of Point of Sale (POS) systems is called Digital POS. There is also a software-only subtype called Virtual POS. After Mobile POS (mPOS) and Virtual POS usage became widespread, the term digital POS came to refer to these two products.
Merchant & POS
In the world of payment systems, both the issuer (the cardholder's bank) and the acquirer (the POS/ATM bank) must follow certain rules for card transactions made through a POS terminal or an ATM. Responding to transactions within a certain time is one of these rules.