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Merchant & POS
Virtual or electronic authorization devices connected to a bank, used by merchants to accept card payments. The term comes from the English phrase Point of Sale. Covers POS types by communication method, their advantages, who can use one, and the transactions a POS can perform.
Credit Card
Track 1 is a special data set encoded on a card's magnetic stripe that contains the card information required for authorization when the card is used physically. It includes the cardholder name, card number, and expiration date.
Merchant & POS
In the world of payment systems, both the issuer (the cardholder's bank) and the acquirer (the POS/ATM bank) must follow certain rules for card transactions made through a POS terminal or an ATM. Responding to transactions within a certain time is one of these rules.
Credit Card
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.
Merchant & POS
An operation that allows a credit card's limit to be blocked for a period, due to the nature of the product or service sold. Preferred mainly by companies in travel, tourism, and car rental.
Merchant & POS
Partial authorization lets an issuer approve part of the requested amount when the card lacks the full balance, with the rest paid another way. This post covers the technical, receipt, clearing, reconciliation, merchant and certification requirements for acquirers.
ATM
Because the ATM is the channel where customers physically handle cash, fraud cases happen there very often. Here are the precautions you can take to use ATMs safely.
Merchant & POS
Doctor POS devices are POS terminals designed for physicians, dentists, and veterinarians who are income taxpayers, meeting the requirements set out in the General Communique of the Tax Procedure Law (VUK).
Merchant & POS
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.
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.
Payment System Institutions
BKM (Interbank Card Center) works through several committees: Security, Operations and Technology, Market Development, Business Development, Chargeback Rules and Arbitration, ATM Sharing, plus arbitration committees. This post outlines each one's duties.
ISO 8583
F54 - ADDITIONAL AMOUNTS is the additional amount field used in transactions. It can take different values depending on the transaction, such as carrying account balance information for balance inquiries.