Search
166 articles found
Merchant & POS
In EMV-based debit card transactions, PIN verification is decisive for both security and liability. What happens when a card that only supports online PIN is sent to the issuer without a PIN, and the issuer approves it? Who owns the risk?
Merchant & POS
Many transactions are carried out with cards on a POS terminal. Sometimes a transaction must be reversed, and cancellation (void) is one such transaction. A Sale can only be cancelled on the POS before the batch (end of day) is closed; otherwise a refund is needed.
Merchant & POS
A Credit Voucher (Refund Document) is a document issued by the merchant for the refund or cancellation of a good or service that a cardholder purchased using a credit card, or to correct an overcharge made by mistake.
ATM
RKL is the process of distributing a TMK (Terminal Master Key) to each terminal from a central point. It is used to remotely load keys onto POS and ATM devices, loading TMKs onto an ATM's keypad or activating them on a POS.
Credit Card
Card-to-Card Money Transfer (CCMT) lets customers send money 24/7 from a credit, debit, or prepaid card to another card via ATM, internet banking, call center, or mobile app.
HSM & Security
PEK is the abbreviation for Pin Encryption Key. The role of PEK is to encrypt PINs. There are two types of PEK: TPK (Terminal Pin Key) and ZWK (Zone Working Key).
Merchant & POS
A PIN pad lets cardholders safely enter their PIN during POS transactions and lets contactless cards be tapped to transfer card data to the POS. Here is how it works.
Merchant & POS
A Collection POS is a secure, web-based payment platform through which businesses and institutions manage their collections and generate the reports they need. Many similar products exist on the market under different names.
Merchant & POS
With advances in technology, mobile phones can now be used for many functions besides calls and internet access. One such innovation is the ability to use smartphones or tablets as POS devices.
EMV
The AID tells the terminal which applications are present on a chip during a POS or ATM transaction. What does the AID do? It lets the terminal determine whether it supports an application on the chip. In Tag 9F06, it is 5-16 digits long.
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.
Merchant & POS
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?