Merchant & POS
What Is an MCC (Merchant Category Code)?
MCC stands for Merchant Category Code: a 4-digit code used to classify merchants by business type. Codes differ slightly between Mastercard, Visa, and BKM.
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Debit Card
What Is a Commercial Debit Card?
A debit-featured card issued to a sole proprietorship, a commercial company, or a foundation/association is called a commercial debit card. Operationally, it is no different from a personal debit (ATM) card. It has its own limit, status, and user.
Fraud
Famous Hacker Caught After 8 Years
Recently the following news story appeared in the papers. Two things stood out: the hacker was a former banker, and the device he used to clone cards. In banking fraud, insiders who know the system's weak points can build schemes customers never notice.
Payment Systems
What Is ISO 20022?
There are standards that keep payment systems running smoothly and reliably. One of these is ISO 20022. So what is ISO 20022, and why was it created? It is an international, XML-based financial messaging standard developed in 2009.
Merchant & POS
What does Not Onus mean?
Not Onus is a payment systems term meaning "Not On Us": a situation where the card-issuing bank and the POS/ATM (acquiring) bank differ. Such transactions are settled through clearing between the two banks.
Security
How Can I Access the Fraud Detection and Prevention Methods in Banking Document?
The TBB book 'Fraud Detection and Prevention Methods in Banking' analyzes the types of fraud threatening the banking and finance sector and individuals, with examples from the world and Turkey, and offers protection recommendations. This post explains how to access it.
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.
Online & Authorization
What are A2A (Account-to-Account) Payments?
Account-to-account (A2A) payments can be described as making a payment by transferring money from one bank account to another. Though similar to wire transfer/EFT, combining the transfer with the payment creates a seamless experience.
Payment Institutions & E-Money
Our Members Pay Each Other From Prepaid Online Accounts. Is This a “Limited Network” Instrument?
A platform lets about 5,000 members top up online accounts by card, pay other members and cash out. Because the member base keeps growing and has no defined limits, it does not qualify as a limited network.
Merchant & POS
With the Latest Agreement, Which Bank Became Turkey's Biggest Card-Accepting Bank?
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.
Payment Systems
WhatsApp Payments Now Possible Without a Credit Card
WhatsApp, one of the world's leading messaging apps, is rolling out a long-awaited new feature. After the update, users in Brazil will be able to shop and pay from within the app. Meta announced that users can now pay small businesses directly in WhatsApp.
Merchant & POS
Are POS Terminals Becoming Obsolete?
Today, as credit cards shift from physical to virtual use, a similar move has come from the POS side. We have begun to see mobile phones used as POS devices becoming a serious rival to physical POS terminals.