FAST
What Are the Advantages of the FAST System?
The FAST system will bring significant convenience and speed to payments and money transfers. Here are its advantages for citizens and businesses, from Easy Address transfers to risk-based limits.
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"risk management"
80 articles found
Credit Card
How is limit management done in banks?
In transactions carried out through banks, a certain limit is set due to the rules and requirements of institutions such as the BRSA (BDDK) and MASAK, as well as the measures banks take to reduce risk, and transactions above this limit are not approved. In the world of payment systems…
Credit Card
Can a Single BIN Issue Both Credit and Debit Cards?
A single BIN cannot be used to issue both a credit card and a debit card. If a bank offers both products, it has at least two different BINs, allocated and announced separately by card type.
Credit Card
Does Credit Card Usage Increase Inflation?
The effect of credit cards on inflation has been debated for years. Because I am asked about it so often, I ran a poll on arifunal.com to gather readers' views. This post weighs the positive and negative effects and compares the poll with the research findings.
Chargeback
How to Reduce Chargebacks (For Merchants)
Chargeback is inherent to card transactions, so it may be impossible to prevent entirely, but taking precautions keeps the risk to a minimum. Here are the key points merchants should pay attention to in order to reduce chargebacks.
Merchant & POS
Terminal Action Code (TAC)
These are codes placed into the terminal software by the acquirer that govern the rules for whether transactions go online or are declined, covering offline approval, offline decline, and online submission due to issuer risk...
Payment System Institutions
From Remote Customer Onboarding to Corporate Digital Identity: The Next Big Transformation in Banking
One of the most important transformations in banking over the last few years has undoubtedly been remote customer onboarding. Individuals can now become bank customers within minutes without visiting a branch. Digital identity checks and contracts largely solved a long-standing problem...
Payment Systems
What is PCI PIN Transaction Security Point of Interaction?
PCI Point of Interaction (POI) was introduced to minimize risk in card transactions. PCI POI Security Requirements cover physical and logical security for both online and offline PIN entry devices (PED) and secure card readers.
Merchant & POS
What Is Dynamic Verification?
Dynamic verification means that, in a payment initiated with a dynamic QR code, transaction-specific details such as the recipient's name, account number and amount are verified online by the receiving participant at the time of the transaction.
Credit Card
What is a Virtual Card?
A credit card number created based on a credit card, not physically printed, usable in all virtual purchases (mail order, e-commerce, etc.). It is generated instantly upon request, usable right away, created with a zero limit, and free of charge.
Merchant & POS
What Is a Fallback Transaction?
When a chip can't be read due to a chip fault or the card being inserted incorrectly, the transaction is completed by swiping the magnetic stripe on the right side of the POS. Can chipless cards do fallback?
Payment Systems
What is a tower?
In payment systems, the tower is the section inside an ATM where cash is physically stored. It contains cassettes holding different banknote denominations, a mix cassette for mismatched notes, and various security mechanisms protecting the cash.