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Merchant & POS
Pin Entry Device is another name for the PIN pad device we all know and use daily. It makes it easier for users to enter their card PIN during POS transactions with credit or debit cards, and is used for contactless card reading...
Merchant & POS
PIN Transaction Security (PTS) verifies that card data and PIN information are used for a payment transaction. It is a set of modular evaluation requirements managed by the PCI Security Standards Council for PIN-accepting terminals.
E-commerce
Making payments over the internet using a card is called online payment. Learn what online payment systems are used for and what happens behind an online transaction, from the payment gateway to the issuing bank.
ATM
Banks must provide the infrastructure for ATM access by visually impaired customers. Among ATMs side by side or less than 50 meters apart, only one needs to comply; all other ATMs must serve visually impaired customers. Details of Article 7 are below.
Chargeback
Arbitration, by definition, is a dispute resolution method in which disputes are settled by arbitrators the parties choose themselves, rather than by official courts. In payment systems, it follows a chargeback when the issuer and acquirer cannot agree.
Chargeback
A good faith review request is a written request that issuers and acquirers send each other to collect on a transaction when the dispute (chargeback) process cannot be run. The requesting party states its grounds.
Credit Card
The Payment Card Industry Data Security Standard (PCI DSS) is a technical and operational standard created by the PCI Committee, formed by internationally recognized payment brands, to ensure data security in card payment systems.
Merchant & POS
To accept a card brand such as Mastercard or Visa, a POS must be certified for that brand. Which brands a POS accepts is the bank's decision.