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Payment Systems
In payment or cash withdrawal transactions, the TR QR Code is generated by the POS or ATM. The card issuing bank must build its systems to read and act on this code. Errors usually stem from mishandling the long and short QR code flows, which are explained here.
E-commerce
Amazon PayCode is a payment option that lets customers pay for Amazon orders in cash: after checkout they receive a code and pay at a participating Western Union agent location.
Merchant & POS
AUC (Application Usage Control) specifies restrictions that limit an application by geography or by specific transaction types. It is a 2-byte data element in Tag 9F07. If present, the terminal performs checks such as whether the transaction is at an ATM.
Credit Card
KKB was established, under banking law, to enable the exchange of all kinds of information and documents among at least five banks, and it also shares credit information about customers. The Credit Bureau of Turkey also serves deposit banks, participation banks, financial institutions, and more.
Payment Systems
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.
Cryptocurrency
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.
3D Secure
Especially with the growth of the internet, credit card transactions have started shifting from physical POS terminals to virtual POS terminals. In virtual transactions, the 3D Secure structure is used instead of the card PIN entered in physical transactions. So how is a transaction's…
Cryptocurrency
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.
Merchant & POS
E-Commerce can briefly be described as the sale and purchase of products over the internet, a term used since 1969. Virtual POS operates behind e-commerce transactions, which take place at different levels: Non 3D, Half 3D, and Full 3D Secure.
HCE
Generating a token from the card number is essential to the security of payments made with mobile devices. The level of tokenization used depends on the need and on how critical the token is. Static tokenization: the token is generated once and stored in a database.
Online & Authorization
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...
Payment Systems
A Half 3D Secure transaction is, in short, the term used when the merchant supports 3D Secure but the card does not. Can such transactions occur as 3D Secure/Half Secure when the merchant does not support 3D Secure? A transaction started without the 3D process is treated as Non-Secure.