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.
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"credit card installments"
79 articles found
Payment Systems
What is the Card Type Information Used in the Visa System?
Card type information is used in card schemes such as MasterCard, Visa, and TROY. The card types and card type codes used in the Visa system include Credit, Prepaid, Debit, Deferred Debit, and Charge Card.
Merchant & POS
Why Are Issuer Data Definitions Important?
The most important part of issuer data definitions is that they are built around your own bank's or institution's developments and application flows. Missing BINs can break installments, rewards and routing on POS devices.
E-commerce
What Are Alternative Payment Systems?
Alternative payment systems are services from intermediary companies that use virtual POS accounts in the background to benefit merchants. Law No. 6493 calls them payment institutions. This article compares them with bank virtual POS accounts.
E-commerce
What is Recurring Payment?
Transactions paid at regular intervals can be defined in the system so that only the installment amount blocks the credit card limit; these are called recurring transactions, used for subscriptions or automatic bill payments.
Merchant & POS
Should I send a payment request I received at the customer's request as an e-commerce transaction?
A reader asks whether a payment request taken at a customer's request should be sent as an e-commerce transaction, and what really separates Mail Order from E-commerce authorization.
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.
Credit Card
What Is Available Limit?
Available limit is what remains of a credit card's limit after subtracting current spending and outstanding installments. See how it's calculated, with worked examples.
Merchant & POS
What Is a POS (Point of Sale)?
Virtual or electronic authorization devices connected to a bank, used by merchants to accept card payments. The term comes from the English phrase Point of Sale. Covers POS types by communication method, their advantages, who can use one, and the transactions a POS can perform.
Merchant & POS
What Is "Installments at the Cash Price"?
When you buy a product with a credit card, you can pay in a single payment or in installments. Installments at the cash price means paying in installments without any markup over the cash price, which benefits the cardholder.
Payment Systems
Are Permissions on Physical POS Devices Kept Only on the POS and the Host?
No. Besides the POS and the host, permissions can also be kept in the issuer data. This lets banks, for example, allow installments only for a brand's BINs, or allow mail order for credit cards but not debit cards.
Merchant & POS
Is an installment Mail Order transaction possible?
A reader asked whether installment mail order transactions are still possible, and whether a card limit equal only to the installment amount is enough. This article shares the answer.