Merchant & POS
What Is a Pre-Authorization Transaction?
An operation that allows a credit card's limit to be blocked for a period, due to the nature of the product or service sold. Preferred mainly by companies in travel, tourism, and car rental.
Search
"credit card debt"
54 articles found
Credit Card
What Is the Minimum Payment Amount? How Is It Calculated?
The minimum payment amount is the portion of the monthly debt - resulting from a cardholder's credit card spending shown on the latest statement - that must be paid. How much of the total debt is the minimum payment amount? Although the calculation varies from bank to bank...
ATM
What are Cash Overage and Cash Shortage?
Cash overage and cash shortage are terms used in any system that operates with a cash account. A cash overage means more money is physically present than the ledger indicates; a cash shortage means less. In payment systems, these terms are most often used for ATMs.
Credit Card
What Are Legal Collection and Administrative Collection?
For people who have trouble paying credit card debt, who do not pay, or who pay late, the concepts of legal collection and administrative collection are not unfamiliar. So, what are legal collection and administrative collection? After a statement is issued on the card,…
Laws & Regulations
What is BSMV?
BSMV stands for Banking and Insurance Transaction Tax, levied on banking and insurance transactions. This post explains how it applies to payment institutions and e-money institutions under Expense Taxes General Communiqué No. 91, with an example.
Merchant & POS
Under What Circumstances Is a Merchant Agreement Terminated?
Banks check merchants against a termination list before issuing a POS device. Learn the main reasons, such as counterfeit card acceptance, excessive chargebacks, and fraud, that can lead a bank to terminate a merchant agreement.