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Credit Card
Pre-authorization reduces the merchant's risk by blocking part of the card's limit for a set period. Since a credit card has a defined limit, an amount can be blocked against it. ATM cards and prepaid debit cards have no such limit to block.
Credit Card
ISO/IEC 7812 is a standard that primarily describes the card numbering system and the application and registration procedures. Identification cards, in physical or digital form, are an integral part of operations in many industries.
Payment Institutions & E-Money
On 7 October 2023, the CBRT amended the Communiqué on Information Systems of Payment and E-Money Institutions and Data Sharing Services of Payment Service Providers, first published on 1 December 2021. Links to the new text, a comparison table and a detailed summary of changes follow.
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.
Merchant & POS
Dynamic verification means that, in a payment initiated with a dynamic QR code, transaction-specific details such as the recipient's name, account number and amount are verified online by the receiving participant at the time of the transaction.
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.
Open Banking
Digital banking is talked about more every day, and with the BRSA's support in defining its scope, it is about to enter our lives. A 'digital bank' is a credit institution that provides banking services mainly through electronic channels rather than physical branches.
ISO 8583
DE 13 — Date, Local Transaction: the date on which the transaction took place at the point of transaction (ATM, POS). It is 4 digits in MMDD format.
Laws & Regulations
An electronic money institution can carry out the activities of a payment institution, but a payment institution has no authority to issue electronic money. So a payment institution cannot carry out an e-money institution's activities.
Merchant & POS
Today, as credit cards shift from physical to virtual use, a similar move has come from the POS side. We have begun to see mobile phones used as POS devices becoming a serious rival to physical POS terminals.
Security
Before 3D Secure 2.0, let's explain what 3D Secure is. 3D Secure is a two-layer payment authentication system that protects both the cardholder and the merchant in online payments. First released by Visa in 1999, it was later adopted by other card schemes…
FAST
Yes. For example, a mobile phone number linked to an account as an Easy Address can be updated to an email address. The Easy Address system uses the most recently changed information and automatically deletes the previous one.