Security
What Is a Secure Card Reader for PIN (SCRP)?
A Secure Card Reader for PIN (SCRP) is a multi-function card reader that turns any iOS, Android or Windows device into a payment terminal able to accept chip and contactless payments with PIN.
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"card standards"
134 articles found
Payment Systems
What is mPOS?
mPOS is short for Mobile POS, a digital POS solution that enables payment acceptance via smartphones/tablets without a standard POS terminal. It is formed by combining a card reader with a mobile device such as a smartphone or tablet...
Payment System Institutions
What are the committees in the BKM system?
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.
EMV
What is an Application Identifier (AID)?
The AID tells the terminal which applications are present on a chip during a POS or ATM transaction. What does the AID do? It lets the terminal determine whether it supports an application on the chip. In Tag 9F06, it is 5-16 digits long.
Credit Card
The First Installment Credit Card and Key Takeaways for Entrepreneurship
Payment systems are changing fast, and new players are emerging. The Advantage Card, the first installment credit card in Turkey and Europe, did not come from a bank, which holds lessons for today's fintech entrepreneurs.
Credit Card
What is ISO/IEC 7816?
ISO/IEC 7816 is an international standard jointly maintained by ISO and IEC, covering contact-based electronic identification cards, especially smart cards. It consists of 15 different parts, each covering a different aspect of smart card technology.
Merchant & POS
What Happens Behind the Scenes When a QR Code Is Scanned? | Closed-Loop Payments #2
In the first post I explained what closed-loop payment systems are and how they differ from open-loop ones. Many of the replies I received boiled down to one question: how do these systems actually work behind the scenes once a QR code is scanned?
Merchant & POS
What Does a Restricted/Prohibited MCC Mean?
The MCC code, or Merchant Category Code, is a 4-digit code used to classify merchants. Some MCC codes are restricted or prohibited, and POS terminals or card transactions may be blocked when such a code is used.
Merchant & POS
What Is a Contactless Reader?
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?
Merchant & POS
What Is the Difference Between a Mail Order and a Manual Sale Transaction?
Mail order is carried out by conveying credit card details to the merchant by phone or mail. A manual sale occurs when, due to a physical problem during checkout, the card details are entered into the POS device by hand instead.
EMV
What Is the Visa EAS Server?
The Visa EAS Server (Extended Access Service) is a server used in Visa’s authentication infrastructure. It was developed to run the cardholder authentication process securely between banks and the Visa network, particularly within Visa Secure (3-D Secure 2.x).
Contactless
What Is a Contactless Transaction?
A contactless transaction is a fast and secure payment made between a credit card and a POS terminal without direct contact, without reading the card's chip or magnetic stripe. Both the card and POS terminal must support contactless transactions.