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Diagram illustrating the card authorization process

Merchant & POS

What Happens During Authorization?

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.

Screenshot illustrating a prepaid card and its features

Credit Card

What is a prepaid card?

A prepaid card is a customized card, with or without a chip, not linked to a bank account and without a credit limit like credit cards, letting you spend only the amount loaded onto it.

Comparison chart showing the differences between CVV and CVV2 security codes

Credit Card

What Is the Difference Between CVV and CVV2?

CVV (CVC) and CVV2 (CVC2) are two terms that cardholders often confuse. Both are used for verification in card transactions, but there are notable differences between them, such as where each is printed and which transactions use it.

Diagram explaining how an offline chip card transaction is approved without contacting the bank

Merchant & POS

What Is an Offline Transaction?

When a chip card transaction is made at a POS, it may be approved by the card and the POS alone, without reaching any system (issuer or acquirer). When do the issuer and acquirer find out about it?

PIN try counter on chip cards

Credit Card

What Is the PIN Try Count?

The PIN Try Count is the maximum number of failed offline PIN verifications that can be made with the card. Banks usually keep both the consecutive wrong PIN count and the maximum wrong PIN count.

Example of a POS transaction receipt (slip)

Merchant & POS

Don't Dismiss the POS Receipt

In daily credit card purchases, the POS produces two receipts: the Customer Copy and the Merchant Copy. The cardholder gets the customer copy; the merchant keeps its own copy by law.

Diagram illustrating the PIN Change/Unblock command process

EMV

What Is Pin Change/Unblock?

The Pin Change/Unblock command is used after card issuance to let the issuer remove a card's PIN block, or instantly change the reference PIN and remove its block, as well.

Illustration representing electronic payment systems

Payment Systems

What are Payment Systems?

Let's talk about payment systems, which we have heard more about since the internet entered our lives, and the basic structures behind them. The first credit card in the world was used in America in the 1920s.

Diagram of the components that make up an HCE transaction token

HCE

What components make up an HCE Token (Transaction Token)?

The token used in HCE transactions contains more than just a new number derived from the card number. It also includes single-use keys, an expiration date, RSA keys and certificates, transaction limits, and an Application Transaction Counter (ATC).

Close-up of a payment card chip, illustrating EMV cardholder verification

Online & Authorization

Cardholder Verification in EMV (CVM)

Cardholder verification in EMV is specific to chip cards. One goal of EMV is to minimize card fraud. To do this, three parties must be verified: the bank, the cardholder, and the terminal. One of the data items taken from the card to prove identity is...