Merchant & POS
What Is Opt Out?
In online transactions, Opt Out is the cardholder exercising the right not to enroll in 3D Secure. It is not unlimited: only as many transactions as the issuer allows can be made without 3D Secure.
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Payment Systems
When Does a Transit Card Become a Payment System? The Istanbulkart Example | #3
When Does a Transit Card Become a Payment System? Millions of people in Istanbul use Istanbulkart every day. Passing through metro turnstiles, rushing to a bus or boarding a ferry at the last moment, our hand reaches almost by reflex for our card or our phone...
Merchant & POS
What Does It Mean When a POS End-of-Day Falls Into Batch Upload?
Merchants can run the end-of-day process by triggering it from the POS device or app for transactions made there. Banks can also run it centrally on merchants' behalf. The end-of-day process sends the POS's transaction totals to the bank's host system.
Merchant & POS
What Is an Imprinter?
An imprinter is the name given to devices that transfer all the information embossed on a credit card onto a paper sales receipt. Before POS terminals, it was commonly used by merchants for authorization transactions.
Merchant & POS
Under What Circumstances Is a Merchant Agreement Terminated?
Banks check merchants against a termination list before issuing a POS device. Learn the main reasons, such as counterfeit card acceptance, excessive chargebacks, and fraud, that can lead a bank to terminate a merchant agreement.
ISO 8583
ISO 8583 Field Descriptions (F60)
F60-ADVICE REASON CODE: Used to indicate the specific purpose of an advice/reversal message. It is 60 characters long.
Payment Systems
What Is an Appeal? What Does It Mean in Payment Systems?
In payment systems, an “appeal” is the process of objecting to the outcome of a transaction dispute. It is usually discussed alongside chargebacks, but it plays a critical role in interbank dispute resolution, when a party asks the card scheme to re-evaluate a concluded decision.
Merchant & POS
What are Loyalty Points?
Loyalty points are promotional rewards banks give customers for credit card transactions, tracked on a card/customer basis. Banks charge merchants a commission on POS transactions, and some share part of that commission with cardholders as points.
Merchant & POS
What is a Multiple Installment Sale?
This can occur at companies selling products from different sectors. For example, you enter a shopping mall and buy a refrigerator for 3000 TL, a dishwasher for 2000 TL, and an iron for 1000 TL, each under a different installment campaign.
Payment Systems
What Is a Fictitious Transaction? Do Merchants That Engage in Fictitious Transactions Share Common Characteristics?
According to the Banks Association of Turkey, collusive transactions that misuse POS devices, debit cards, or credit cards for purposes other than their intended use are called fictitious transactions - in short, transactions used outside their intended purpose.
Merchant & POS
Should I send a payment request I received at the customer's request as an e-commerce transaction?
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.
Chargeback
What Is Compliance (Regulatory Compliance)?
Compliance means adherence to card scheme rules. Outside chargebacks, it is how a bank that loses money because card payment organization rules were broken recovers that amount from the party that caused the loss.