Security
What Is OTP (One-Time Password)?
These are passwords generated for one-time use and sent to the cardholder's phone to verify card transactions in payment systems. The password sent during a 3D Secure transaction is a common example.
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"Secure Mobile Payment"
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Open Banking
What Is Embedded Finance?
Embedded Finance means integrating financial products and services into non-financial platforms, experiences or business processes. In other words, services offered by financial institutions become part of the product or service flows of non-financial organizations.
Open Banking
What Is the European Association of Payment Service Providers for Merchants (EPSM)?
EPSM is a non-profit trade association that represents its members' interests and enables the exchange of news, information and opinions about the European payments market.
FAST
FAST Request to Pay Overlay Service now available to corporate users
Request to Pay lets users request payment from people who owe them money through a banking application. The CBRT has expanded the FAST Request to Pay Overlay Service so that corporate users can also use it.
HCE
Comparing Digitization and Tokenization
Tokenization and digitization are two important terms in mobile payments that are easily confused and often used interchangeably. What is the difference between digitization and tokenization?
Merchant & POS
What is Digital POS?
The digital form of Point of Sale (POS) systems is called Digital POS. There is also a software-only subtype called Virtual POS. After Mobile POS (mPOS) and Virtual POS usage became widespread, the term digital POS came to refer to these two products.
Payment Systems
Apple opens NFC payments to third-party apps
Under the EU Digital Markets Act, Apple will let third-party developers in the European Economic Area offer NFC contactless payments inside iOS apps without Apple Pay or Apple Wallet, opening the way for banks and payment services to launch their own tap-to-pay solutions.
Credit Card
What do I need to do to use my card for e-commerce transactions?
First, your card must be enabled for e-commerce transactions, with domestic and international authorizations usually managed separately. Second, your card must be eligible for 3D Secure transactions.
Credit Card
Vertical Revolution in Credit Cards
The payment card industry is arguably the sector most affected by technology and the quickest to adapt new developments. With mobile devices, payment systems have changed a lot - we now prefer using our credit cards virtually rather than physically.
HSM & Security
What Is the CPoC (PCI Contactless Payments on Commercial off-the-Shelf) Standard?
The CPoC standard, issued by the PCI Security Standards Council in 2019, is a data security standard that lets merchants accept contactless payments using a commercial off-the-shelf (COTS) mobile device with NFC.
Credit Card
What is Person-to-Person Payment (P2P)?
Person-to-person payments (P2P) is an online technology that lets users transfer money from their bank or credit card accounts to another person's account over the internet or a mobile phone. Examples of such apps include PayPal, Venmo, and Cash App.
HCE
What Are the PIN Strategies in HCE?
There are three types of PIN strategy in HCE (Host Card Emulation): No PIN, Card PIN and Wallet PIN or customer biometric data. Each balances user experience and security differently.