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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.
Credit Card
In the early years of credit cards, using the card physically was mandatory. With the internet and new technologies, we can now pay with only the card details, 3D Secure and contactless NFC payments, even without the card in hand.
Security
The TBB book 'Fraud Detection and Prevention Methods in Banking' analyzes the types of fraud threatening the banking and finance sector and individuals, with examples from the world and Turkey, and offers protection recommendations. This post explains how to access it.
ISO 8583
F61 - POINT OF SERVICE (POS) DATA: This field provides information about the specific status of the POS at the time of the transaction. Position Usage Attribute 1 POS Terminal Attendance Indicator 0 = Attended terminal (Valid for MasterCard debit card and Maestro transactions only).
Merchant & POS
A reader asks whether a payment request taken at a customer's request should be sent as an e-commerce transaction, and what really separates Mail Order from E-commerce authorization.
Online & Authorization
The Application Version Number is the version number of the application on the card. For example, the Visa VSDC application version number is 131, and the Mastercard M/Chip Lite version number is 2.
Merchant & POS
It's important to first distinguish between magnetic-stripe and fallback transactions. A magnetic-stripe transaction skips the chip entirely, which lowers its security level compared to a fallback transaction.
ISO 8583
F45 (TRACK-1 DAT) carries the Track 1 data of the card in ISO 7813 format, including field separators and start and end sentinels but excluding the LRC character. It is 76 characters long.
Payment Institutions & E-Money
Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions defines a payment instrument as a personalized device such as a card, mobile phone, or password.
Merchant & POS
Payments made over the internet are called digital payments. Card payments, cryptocurrency, and online banking transfers all fall within the scope of digital payment, along with mobile wallets and QR code payments.
Merchant & POS
In payment systems, every exchange between POS devices and bank or payment institution systems runs on a specific messaging standard, generally based on ISO 8583. However, each country, bank, or switch network defines its own version of this standard.
ATM
Many banks now let customers deposit cash by scanning a QR code with their mobile banking app instead of inserting a card at the ATM. This speeds up the transaction, reduces card skimming risk, and adds an extra layer of security through in-app verification.