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Chargeback
Compliance means adherence to card scheme rules. Outside chargebacks, it is how a bank that loses money because card payment organization rules were broken recovers that amount from the party that caused the loss.
Clearing
Clearing: the transmission of transfer orders sent to the system, mediating their mutual delivery, obtaining authorization prior to settlement in some systems, and netting payment orders.
Merchant & POS
MIV stands for Central Merchant Database. The MIV Module collects information on merchants across Turkey and the TRNC that have card acceptance agreements with BKM members, and assigns each merchant a unique number for tracking purposes.
Merchant & POS
UnionPay International (UPI) is a China UnionPay subsidiary founded in November 2012. Together with more than 1,000 institutions worldwide, UPI provides international card acceptance in 160 countries and card issuance in more than 40 countries and regions.
Merchant & POS
The GPRS Line Fee is the monthly charge banks pass on to merchants for each active GPRS POS terminal, covering the mobile operator cost of the line built into GPRS POS devices. It is not applied to IP POS or Dial-up POS terminals.
Credit Card
A Shared POS is a POS solution that allows the credit card applications of multiple banks, such as installments and loyalty points, to run on a single POS device. It automatically recognizes the cards of banks loaded on it and routes the transaction accordingly.
Payment Systems
In payment systems, an “appeal” is the process of objecting to the outcome of a transaction dispute. It is usually discussed alongside chargebacks, but it plays a critical role in interbank dispute resolution, when a party asks the card scheme to re-evaluate a concluded decision.
Merchant & POS
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.
Credit Card
The Chargeback Document Management System (CDYS) is a system developed by BKM to resolve customer disputes over card payment transactions among BKM members, covering Copy Request, Chargeback, Representment, and related processes.
Credit Card
A co-branded card is a card offered by two or more organizations: one the issuing financial institution, the other a non-financial commercial brand (there may be more than one), such as an airline, hotel, or retail chain.
Merchant & POS
Isbank, a leading player in accepting payments from abroad in Turkey, has started accepting Discover and Diners Club cards via an agreement with Discover Financial Services, making it the bank accepting the most card brands in the country.
E-commerce
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.