Search
70 articles found
Merchant & POS
Today is April 23, the 100th anniversary of the opening of the Grand National Assembly. Taking Children's Day as a starting point, this post looks at digitalization, Generation Z, blockchain, biometric payments and the cashless society from a payment systems perspective.
ISO 8583
DE 38 (AUTHORIZATION IDENTIFICATION RESPONSE) is the authorization code generated when a transaction is approved. It is alphanumeric, 6 characters long, and left empty for declined transactions.
Merchant & POS
Winning customers is one of the most important things in business, but keeping them satisfied matters just as much. If you collect payments at regular intervals, such as monthly, these tips will help you improve the success rate of recurring collections.
ISO 8583
F32 - ACQUIRING INSTITUTION IDENTIFICATION CODE: the 11-digit acquirer bank ID. The values it can take for domestic transactions and by card brand include Visa, MasterCard, UnionPay, Discover and JCB formats.
Payment Systems
Elon Musk was set to unveil Neuralink, a brain-computer interface. What is Neuralink, and how might payment systems change if payments, cards, ATMs and POS devices move from phones to a chip in the brain?
Cryptocurrency
Cryptocurrencies are becoming part of everyday life and are expected to compete seriously with card payments. This glossary explains the key crypto terms, from address, altcoin and arbitrage to halving, mining, proof of stake and stop-loss.
Merchant & POS
Partial Authorization lets an issuer approve part of a transaction instead of declining it when the balance or limit is insufficient. This post covers how it works in ISO 8583, whether it is mandatory, and why it matters for the business.
ISO 8583
We covered the ISO 8583 basics in an earlier article. This post explains the ISO 8583 message structure in detail: every ISO 8583 message consists of three main parts - the MTI (Message Type Indicator), the Bitmap, and the Data Elements.
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.
Payment Institutions & E-Money
On 7 October 2023, the CBRT amended the Communiqué on Information Systems of Payment and E-Money Institutions and Data Sharing Services of Payment Service Providers, first published on 1 December 2021. Links to the new text, a comparison table and a detailed summary of changes follow.
Chargeback
Chargeback reason codes vary by card scheme. The Amex chargeback reason codes and their descriptions are listed below: American Express Chargeback Reason Codes A01 The charge you submitted did not receive a valid authorization approval code for the amount...
Online & Authorization
In EMV, data is stored in Tag-Length-Value (TLV) format, and it is carried between the card, the POS terminal, and the authorization system in this same format. This post lists every EMV Tag, its type, and its description.