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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.
Merchant & POS
Loading parameters onto a POS transfers changes made in the POS Management system (authorization, limits, card BIN list, etc.) onto the POS. There are 3 ways to do it.
Merchant & POS
A Collection POS is a secure, web-based payment platform through which businesses and institutions manage their collections and generate the reports they need. Many similar products exist on the market under different names.
Payment Systems
Contactless payment has greatly improved the user experience, yet its fixed transaction limit is a common complaint. Can this limit be managed dynamically per customer? This post covers the current situation, technical and regulatory requirements and the outlook.
Merchant & POS
Introduction: When a card (credit card/debit card/prepaid card) is used at an ATM or POS, data must be carried securely between systems. For example, in a store sale, the POS initiates the transaction, which must reach the cardholder's bank intact.
Payment Systems
After Russia invaded Ukraine, Visa and Mastercard suspended services for sanctioned Russian banks. This post explains the impact on cardholders and merchants, and Russia's MIR and UnionPay alternatives.
Merchant & POS
The PCI Security Standards Council (PCI SSC), founded in 2006 by Amex, Discover, JCB, Mastercard and Visa, has shared its data security and testing standard for accepting contactless payments on smartphones and tablets without extra hardware.
HSM & Security
KEK (Key Encryption Key) is an encryption key used to encrypt the DEK (Data Encryption Key) and decrypt the encrypted DEK. The relationship between KEK and DEK: in encryption systems, keys are managed in a layered structure.
Payment Systems
Official Gazette No. 32332 dated 07.10.2023 published the amending Regulation and Communiqué covering digital wallets, e-money, share transfers, cloud outsourcing, remote identity verification and card system choice.
Credit Card
When banks launch a new card product, they can do it under an existing BIN or a new one. A new BIN requires much more work: BKM announces it, every bank defines it and every POS has to download it.
Credit Card
It may sound impossible at first, but it is technically possible: a bank can issue chip debit cards under the same BIN as its magnetic stripe cards, with the card scheme's approval.
Credit Card
A credit card number created based on a credit card, not physically printed, usable in all virtual purchases (mail order, e-commerce, etc.). It is generated instantly upon request, usable right away, created with a zero limit, and free of charge.