EMV
What is Dedicated File Name (DFN)?
DFN is the abbreviation for Dedicated File Name. It defines the name of the DF (Dedicated File) as described in ISO/IEC 7816-4. It is the data found in Tag 84, 5 to 16 characters in length.
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"payment schemes"
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Agentic Commerce
Agentic Commerce Series – Part 4
Are We Ready to Give an AI Agent the Authority to Make Payments? Having long looked at complaint and dispute processes in payment systems, I think granting an agent payment authority is far different from research or product selection.
Payment Systems
What Is PEPSI (The Pan-European Payment System Initiative)?
28 European banks have started working on a cashless payment system cooperation that would operate across Europe independently of existing international schemes such as Mastercard, Visa and Discover.
Payment Systems
What Are the Discover Chargeback Reason Codes?
Chargeback reason codes differ by card scheme. Here is the list of Discover chargeback reason codes and their descriptions, along with how merchants can use them.
Closed-Loop Payments
Alipay: Payment System or Digital Economy? | Closed-Loop Payments #5
Is Alipay a payment system, or a digital economy? In the previous post we discussed how Starbucks shows that payment systems can evolve into a different structure. At first the goal was to make payment easier for the customer. As the system grew, loyalty programs...
ISO 8583
ISO 8583 Field Descriptions (F42)
F42 - CARD ACCEPTOR IDENTIFICATION CODE: the merchant number of the terminal where a transaction took place. It is a 15-character alphanumeric value. Transactions are settled to the merchant's account based on the merchant number in this field.
Credit Card
What Happens When a Product Is Launched Under a New BIN?
When banks launch a new card product, they can do it under an existing BIN or a new one. A new BIN requires much more work: BKM announces it, every bank defines it and every POS has to download it.
Credit Card
What Is TROY?
TROY, announced by the Interbank Card Center (BKM) in September 2015, is a card scheme like VISA, MasterCard, or AMEX. It takes its name from the initials of its Turkish slogan meaning 'Turkey's Payment Method'.
Merchant & POS
What Is Partial Authorization?
Partial Authorization lets an issuer approve part of a transaction instead of declining it when the balance or limit is insufficient. This post covers how it works in ISO 8583, whether it is mandatory, and why it matters for the business.
HCE
What Are Tokenization and Detokenization?
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
What Happens Behind the Scenes When a QR Code Is Scanned? | Closed-Loop Payments #2
In the first post I explained what closed-loop payment systems are and how they differ from open-loop ones. Many of the replies I received boiled down to one question: how do these systems actually work behind the scenes once a QR code is scanned?
Credit Card
Istanbulkart: Both Transit Card and Payment Card
When I think back to the Akbil I used when I first arrived in Istanbul, I think it's fair to say that Istanbulkart has undergone a very significant transformation. Users can now track activity, top up and view balances right from their phones.