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Payment Systems
ISO/TC 68 is a technical committee within the International Organization for Standardization in Geneva, responsible for developing and maintaining international standards for banking, securities and other financial services.
Merchant & POS
The Merchant Registry System is the system at BKM that holds information on merchants accepting electronic payments, set up to simplify TR QR Code payment processes and prevent fraud and misuse in payments.
Security
With Chip&Pin technology, card PINs and chip-based transactions became widespread. As online shopping grew, strengthening the security of these transactions became a necessity, and OTP began providing that transaction security.
Credit Card
Cases where authorization approval is declined have always puzzled cardholders. Whenever the response code requires contacting the issuing bank (usually for declined transactions), the date, amount, and response code of the failed transaction become very important.
Online & Authorization
Many fields are sent in the authorization message of a card transaction, one of the most important being the authorization code. On its own it is not enough; together with the STAN and transaction date, the transaction can be found directly.
Merchant & POS
The System Trace Audit Number (STAN) is a number assigned by the third-party system (ATM or POS) to help uniquely identify a transaction. It is generated in the range 000001 to 999999. Each new authorization message needs a new STAN; retries reuse the original STAN.
Payment Systems
The BRSA has prepared a draft communiqué setting out remote identity verification methods banks can use for new customer acquisition and identity verification, under Banking Law No. 5411 and the regulation on banks' information systems.
Payment Systems
Under the regulation published on 25 September 2020 in Official Gazette No. 31255, institutions that sign merchant agreements must now be able to track transactions at the sub-merchant level.
Payment Systems
Takasbank (Istanbul Settlement and Custody Bank) exists to increase the competitiveness of Turkey's markets by providing clearing and custody services, financial services, and other economic activities under the relevant legislation.
Security
A Qualified Security Assessor (QSA) is approved by the PCI Security Standards Council to audit merchants for PCI DSS compliance. The lists of QSA and ASV companies are published on the Council's website.
Security
“Software-based Mobile Payment Security Requirements” is a document published by EMVCo in April 2020 to guide payment application developers in building secure payment applications. This post summarizes its purpose and who it concerns.
E-commerce
In recent years, data exchange over wireless mobile devices has become much faster and more secure. In 2019, mobile devices were used in 54.5 percent of purchases made by e-commerce users. With the steady growth in mobile users, mobile commerce keeps gaining ground.