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Credit Card
The Effective Date is the information showing the date until which a card can be actively used. It can also be called the expiration date. It is a mandatory field printed on the card and used in transactions, set by banks for card security.
Payment Institutions & E-Money
Innovations in payment systems continue. The CBRT's Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers was amended and published in the Official Gazette, with new minimum equity requirements and activity restrictions.
Payment Systems
Strong Customer Authentication (SCA) is a security requirement introduced under the EU's Payment Services Directive 2 (PSD2) to increase security and reduce fraud in online payment transactions. SCA requires two of three independent authentication factors.
Credit Card
As credit card use grows, so does the importance of raising your limit to keep pace with inflation. Learn how periodic limit increases work, who qualifies, and the legal caps that apply.
Online & Authorization
The payment page is one of the most important steps in whether customers complete a purchase. Asking for the cardholder's name is common practice, but it is not required to charge the card.
Credit Card
If you can't use your card for e-commerce transactions abroad, first check that e-commerce authorization is enabled, that 3D Secure has been set up, and that your bank's authorization system is active. The issue may also originate from the merchant's bank.
Payment Systems
The number of consecutive transactions you can make with your card in a day is set by the bank or institution that issued it. For details, contact the customer service of the bank or institution that issued your contactless card.
Payment Systems
TCR stands for Transaction Record Component, the packets that carry transaction information in a clearing system. Transaction types in a clearing file are distinguished by transaction code and usage code values, and this data is sent inside TCR packets.
Credit Card
A structure developed by Visa for purchase refund transactions. The purchase return authorization message lets cardholders view their refund transactions in real time, improving the customer refund experience.
Credit Card
The PIN Try Count is the maximum number of failed offline PIN verifications that can be made with the card. Banks usually keep both the consecutive wrong PIN count and the maximum wrong PIN count.
Credit Card
You may have noticed that the same transaction amount earns different reward points when paid with a credit card. Have you ever wondered why? The points a card earns are managed within the card bank's authorization system.
Merchant & POS
The Central Bank of the Republic of Turkey has capped the commission banks charge merchants on credit card purchases, effective for transactions after November 1, 2019. What does this mean for cardholders and banks?