Search
48 articles found
Payment Systems
Every payment transaction completes in seconds, yet dozens of controls run behind the scenes. This post covers the precautions for authorization and clearing, the critical role of reversals, and the financial loss scenarios most often seen in the field.
HSM & Security
Non-face-to-face transactions in which the cardholder authorizes the merchant to store card data, and the merchant uses that stored data to carry out the transaction, are called Credential-on-File (CoF) transactions.
Fraud
Fraud management is used to detect possible fraud on customer accounts and provides additional security for transactions when necessary, making it one of the top priorities for banks.
Merchant & POS
According to the third Card Spending Analysis by TOBB and Visa, average monthly card spending in Turkey in the first quarter of 2022 rose 85 percent year on year, driven by e-commerce, debit cards, and contactless payments.
Laws & Regulations
A payment institution is a legal entity that provides payment services for electronic payments through the infrastructure it offers. This article covers the Turkish regulatory framework, licensing, safeguarding, supervision, penalties and taxation.
Closed-Loop Payments
Is Alipay a payment system, or a digital economy? In the previous post we discussed how Starbucks shows that payment systems can evolve into a different structure. At first the goal was to make payment easier for the customer. As the system grew, loyalty programs...
Security
The TBB book 'Fraud Detection and Prevention Methods in Banking' analyzes the types of fraud threatening the banking and finance sector and individuals, with examples from the world and Turkey, and offers protection recommendations. This post explains how to access it.
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.
Merchant & POS
Payments made over the internet are called digital payments. Card payments, cryptocurrency, and online banking transfers all fall within the scope of digital payment, along with mobile wallets and QR code payments.
ATM
A Bitcoin ATM (BTM) is a specialized kiosk designed for Bitcoin transactions, letting users buy and sell Bitcoin. General features: it enables Bitcoin purchases and sales, and while it visually resembles traditional ATMs...
Fraud
Recently the following news story appeared in the papers. Two things stood out: the hacker was a former banker, and the device he used to clone cards. In banking fraud, insiders who know the system's weak points can build schemes customers never notice.
Credit Card
In the early years of credit cards, using the card physically was mandatory. With the internet and new technologies, we can now pay with only the card details, 3D Secure and contactless NFC payments, even without the card in hand.