Merchant & POS
What Is a Cancellation (Void) and a Refund?
Credit card transactions made via POS sometimes need to be reversed. These are called a cancellation (void) or a refund. What's the difference, and when does each apply?
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"Sales Transactions"
107 articles found
Credit Card
What Is Installment Payment?
Installment payment means dividing a product's price into a set number of equal amounts. For example, if a 100 TL product is bought in 5 installments, the cardholder pays 20 TL a month for 5 months, totaling 100 TL.
Payment Systems
What are Account Information Service Providers?
Digital Account Checking underpins many innovative banking and FinTech services. In most cases, it is performed by Account Information Service Providers, which supply data from customers' online bank accounts to other banks and third-party providers.
Merchant & POS
How is a software version uploaded to a POS terminal?
To upload a version to a POS, the software on the POS and the authorization system on the bank side must support it. Version upload to a POS can be done manually on the device itself, or via a remote upload request.
Security
What is Check Out?
In online shopping, converting product browsing into a completed sale after a customer visits your site is just as critical. The amount of purchases abandoned due to friction in the online buying process often exceeds successful sales.
Merchant & POS
What Is the Secure Mobile Payment and Electronic Document Management System (GMOEBYS)?
Financial institutions, cash register (OKC) manufacturers, and private integrators run this Ministry-authorized system under Communique No. 507 on the Tax Procedure Law, enabling mobile sales with electronic financial documents.
Clearing
What is Reimbursement Attribute?
DE03/Reimbursement Attribute carries the Reimbursement Value of a transaction. BKM uses this information as the basis for calculating interchange fees and charges between member banks.
Chargeback
How to Reduce Chargebacks (For Cardholders)
A chargeback is when a cardholder asks the issuing bank to refund a transaction made without their knowledge. It cannot be prevented entirely, but simple precautions can minimize the risk. Here is how the process works and what cardholders should do.
Payment Systems
What Are the Mastercard and Visa Chargeback Reason Codes Requiring a Cardholder Letter and/or Supporting Documentation?
Here are the Mastercard and Visa chargeback reason codes that require a cardholder letter and/or supporting documentation, with their descriptions.
Payment Systems
What is Store and Forward (SAF)?
Store and Forward (SAF) describes offline transaction processing. It was originally developed when modems were introduced and connections were not always stable, letting terminals store transactions and forward them once connectivity is restored.
Credit Card
What Is a Card's First Transaction Date? What Is It Used For?
Banks generally keep a record in the system of a card's "First Transaction Date." This information is automatically populated by the online authorization system. So under what circumstances is it updated? First, an authorization transaction must…
Merchant & POS
What is a Credit Voucher (Refund Document)?
A Credit Voucher (Refund Document) is a document issued by the merchant for the refund or cancellation of a good or service that a cardholder purchased using a credit card, or to correct an overcharge made by mistake.