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Merchant & POS
PSD stands for Payment Services Directive, known as the Payment Services Law. It took effect in EU countries in 2009, and in 2015 new revisions were announced as PSD1, aiming to build an efficient, fast, secure, and competitive payment market.
Security
Forgery in card payments means transactions made with card details without the cardholder's knowledge, or purchases with counterfeit or stolen cards. Merchants cannot eliminate fraud and chargeback risk, but they should aim to reduce it to reasonable levels.
Payment Institutions & E-Money
The Law defines e-money as monetary value issued in exchange for funds accepted by the issuer, stored electronically, used for payment transactions and accepted as a payment instrument by persons other than the issuer. This post explains e-money institutions and the services they may provide.
Security
The Visa PIN Security Program Guide describes the security and procedural requirements for acquirers and their agents that process PIN data or manage keys for PINs associated with Visa transactions.
Merchant & POS
According to the Central Bank, the maximum commission rates banks may charge merchants are based on a reference rate: the latest two-week weighted average interest rate on 32–45 day Turkish lira deposits.
Laws & Regulations
Law No. 5549 introduced legal rules to prevent money laundering and terrorist financing, defined obligations, and expanded MASAK's remit to cover the fight against terrorist financing as well as money laundering.
Payment Institutions & E-Money
Online shopping keeps growing, and e-commerce sites must choose between working with a bank or a payment institution. This article explains why a single application and integration with a payment institution can be the better route.
Credit Card
Germany-based Deutsche Bank is launching a new credit card in Spain with a dynamic CVV code that changes every four hours, to make online shopping more secure. Deutsche Bank partnered with Mastercard and Idemia for the new card, launched under the Tarjeta Calma brand.
ATM
ATMs hold large amounts of cash, which keeps them in fraudsters' sights. Diebold Nixdorf and NCR report that jackpotting attacks have reached the United States. Here is what happened and what precautions can improve ATM security.
Merchant & POS
These are devices connected to a POS terminal that allow fast payments, up to a certain limit, using contactless credit cards or prepaid cards by tapping them on the contactless reader instead of the POS's card reader. Can every POS have a contactless reader attached?
Chargeback
A chargeback is the process of requesting that an amount paid by credit card be refunded, either because the goods or services paid for were not received, or because a transaction is identified as one the cardholder did not carry out.
Credit Card
CVK (Card Verification Key) is the key information used to generate and verify CVV/CVC values, confirming their validity. It is kept as a pair of keys, CVK A and CVK B, encrypted under TMK, ZMK or LMK.