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Payment Systems
Contactless payment has greatly improved the user experience, yet its fixed transaction limit is a common complaint. Can this limit be managed dynamically per customer? This post covers the current situation, technical and regulatory requirements and the outlook.
Merchant & POS
The Upper Consecutive Offline Limit is the maximum number of consecutive offline transactions allowed by the issuer's chip card application on a terminal that cannot go online. It is held in tag 9F23.
HCE
Tokenization generates secure data from a credit card number, using specific algorithms, for use during authorization. In CNP transactions, it removes the risk of storing or compromising the original card number.
Merchant & POS
CAVV and AAV are verification codes used in 3D Secure transactions to ensure transaction integrity and security. CAVV is used by Visa, while AAV is used by Mastercard.
Credit Card
Pre-authorization reduces the merchant's risk by blocking part of the card's limit for a set period. Since a credit card has a defined limit, an amount can be blocked against it. ATM cards and prepaid debit cards have no such limit to block.
Merchant & POS
The most important part of issuer data definitions is that they are built around your own bank's or institution's developments and application flows. Missing BINs can break installments, rewards and routing on POS devices.
Credit Card
Issuer Script Results is the field that shows the results of the Issuer Script commands sent to the card. This post explains its byte and bit values, what an issuer script is, why the results matter, and what happens when a command fails.
Merchant & POS
No slip printed after a POS transaction? Here's how to check whether the transaction actually went through and what steps to take if the receipt never came out.
Laws & Regulations
The articles of the Regulation on the Accessibility of Banking Services are listed below. Published in the Official Gazette on 18 June 2016 (issue 29746), banks must strictly comply with them. PART ONE Purpose...
Credit Card
Cases where authorization approval is declined have always puzzled cardholders. Whenever the response code requires contacting the issuing bank (usually for declined transactions), the date, amount, and response code of the failed transaction become very important.
Chargeback
A good faith review request is a written request that issuers and acquirers send each other to collect on a transaction when the dispute (chargeback) process cannot be run. The requesting party states its grounds.
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.