ISO 8583
ISO 8583 Field Descriptions (F34)
F34 — Primary Account Number, Extended: this field is filled when the card number cannot be placed in F2 because it is longer than 19 digits or contains special characters.
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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.
ISO 8583
ISO 8583 Field Descriptions (F64)
F64 — Message Authentication Code (MAC): verifies the origin and text of the message between the sender and the receiver.
HSM & Security
What is ZPK (Zone PIN Key)?
ZPK, also known as the PIN Protection Key, is a data encryption key that is distributed automatically and used to encrypt PINs. It is also referred to as the 'Working Key'. This key allows PIN information to be carried securely across the network.
Merchant & POS
What Is the “Merchant Data Standards Manual”? How Can I Access It?
Visa's Merchant Data Standards Manual covers classification, identification and data standard requirements for merchants, payment facilitators and marketplaces, including merchant naming, location and MCC rules. Here is what it contains and where to find it.
Cryptocurrency
What Are the Terms Used in the Cryptocurrency World?
Cryptocurrencies are becoming part of everyday life and are expected to compete seriously with card payments. This glossary explains the key crypto terms, from address, altcoin and arbitrage to halving, mining, proof of stake and stop-loss.
Merchant & POS
How Digital Are You in Payment Systems?
Digitalization has brought major change to payment systems, just as it has to every area of our lives. Its biggest impact has been turning the financial world into something virtual, spanning IoT, mobile payments, blockchain and biometrics.
Payment Systems
What Is TCR (Transaction Record Component)?
TCR stands for Transaction Record Component, the packets that carry transaction information in a clearing system. Transaction types in a clearing file are distinguished by transaction code and usage code values, and this data is sent inside TCR packets.
Payment Systems
Preventing Financial Losses in Payment Systems: Authorization, Clearing, and the Reversal Mechanism
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.
Cryptocurrency
What Is Cryptocurrency Mining?
Mining is the production of cryptocurrency through hardware and software, as well as the recording and confirmation of cryptocurrency transfers. Because block difficulty rises with each new unit, mining requires very powerful processors.
Payment Systems
First Payment Transactions on the Digital Turkish Lira Network Successfully Completed
As part of the first-phase work of the Digital Turkish Lira Project led by the Central Bank of the Republic of Turkey (CBRT), the first payments on the Digital Turkish Lira Network were successfully carried out. The CBRT will continue its closed-loop pilot tests in the first quarter of 2023.
Closed-Loop Payments
Why Do Closed-Loop Payment Systems Want to Grow? | Series #6
Why does a coffee chain build its own loyalty program, and why does a payment app keep adding services? This post looks at how loyalty, data, and new services drive the growth of closed-loop payment systems, and at the financial layers behind that growth.