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Credit Card
Credit cards and POS are two core products banks offer customers. At first glance, credit cards seem to generate no return beyond interchange fees, card fees, and late fees.
Payment Systems
The Hidden Side of the Payments World. The words a person working in the payment systems industry hears most over a career are probably Visa, Mastercard, POS, debit card, virtual POS, acquiring and card issuing. Frankly, my own career did not unfold very differently from that journey...
Payment Systems
Every payment transaction completes in seconds, yet dozens of controls run behind the scenes. This post covers the precautions for authorization and clearing, the critical role of reversals, and the financial loss scenarios most often seen in the field.
Chargeback
A chargeback is the refund of an amount paid by credit card to the cardholder's card when the purchased goods or services were not received, or when a transaction was not actually carried out by the cardholder.
Merchant & POS
BKM TechPOS is an infrastructure through which card acquirers and POS/cash register manufacturers can interoperate via BKM, letting all participating banks provide card acceptance services on a single device.
Payment Systems
The configuration area in POS applications holds terminal number, merchant number, IP, port, APN and phone number information needed for POS setup, and can be managed manually or centrally.
Open Banking
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.
ISO 8583
We covered the ISO 8583 basics in an earlier article. This post explains the ISO 8583 message structure in detail: every ISO 8583 message consists of three main parts - the MTI (Message Type Indicator), the Bitmap, and the Data Elements.
Clearing
The Documentation Indicator is a code carried in the F60 (Additional Data) DE05 field of clearing transactions. Used in second presentment and reversal presentment transactions, it shows whether the supporting document has been sent. This post lists the values and their meanings.
Merchant & POS
Today, credit cards play an important role in our daily lives. We can carry out almost all of our transactions without carrying cash, using our credit card instead. During a purchase, we hand our card to the cashier and enter our PIN at the POS terminal.
Merchant & POS
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.
ISO 8583
F37 - RETRIEVAL REFERENCE NUMBER: a 12-digit alphanumeric value generated by the Acquirer that initiates the transaction. It must be printed on the POS receipt or ATM slip. RRN is the reference number that allows a transaction to be located.