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Payment Systems
A shared POS is a bank or institution terminal that can host more than one application. This post covers the software, APN and authorization steps, and the key test scenarios to cover in a shared POS project.
Closed-Loop Payments
Is Starbucks really selling coffee, or building an ecosystem? Prepaid balances, a loyalty program and customer data turn a coffee chain's payments into a closed-loop economy, a very different model from Istanbulkart.
Payment Institutions & E-Money
Open banking means sharing customers' financial information with a third-party fintech company so that a range of banking and financial services can be offered to them. It works through API integrations. This post covers its status in Turkey and the new BRSA regulation.
Merchant & POS
PSD stands for Payment Services Directive, known as the Payment Services Law. It took effect in EU countries in 2009, and in 2015 new revisions were announced as PSD1, aiming to build an efficient, fast, secure, and competitive payment market.
HSM & Security
TAK stands for Terminal Authentication Key. It is the data encryption key used to generate and verify a Message Authentication Code (MAC) for data communication between a terminal and the acquirer within a local network.
Laws & Regulations
The Regulation on Information Systems of Banks and Electronic Banking Services sets the minimum procedures and principles for managing bank information systems, providing electronic banking services and managing related risks, along with the required information systems controls.
Credit Card
Legally, e-commerce sites should not store card details in their own systems; they should only use them when sending transactions. Unfortunately, some sites do not follow this rule.
Fraud
Chargeback is the process of refunding a credit card payment when the goods or services that should have been received were not, or when transactions not made by the cardholder are identified. In Turkish it is translated as reversal of presentment.
General
The Intellectual Capital Development Association, a high-value-added association that brings together experienced organizational managers to build knowledge communities and spread intellectual capital throughout society, is now live with a new website.
ISO 8583
F23 - CARD SEQUENCE NUMBER: Information used to distinguish cards sharing the same card number. For example, the Card Sequence Number is incremented by 1 when a card is renewed. In an authorization transaction, if the F22 value is '05x'...
Credit Card
CVK (Card Verification Key) is the key information used to generate and verify CVV/CVC values, confirming their validity. It is kept as a pair of keys, CVK A and CVK B, encrypted under TMK, ZMK or LMK.
Credit Card
The BRSA raised the card limit threshold used to set the minimum payment rate from TRY 50,000 to TRY 100,000. This post explains what changed, why now, the short-term relief, the risk of carried-over balances, and which data to watch.