Merchant & POS
Is an installment Mail Order transaction possible?
A reader asked whether installment mail order transactions are still possible, and whether a card limit equal only to the installment amount is enough. This article shares the answer.
Search
"Card Limits"
231 articles found
Credit Card
What should I do if my card is stolen?
If your card has been stolen: call your card's bank and close it with a Stolen status, check for transactions you don't recognize and dispute them, and update any automatic payment instructions tied to the old card.
Merchant & POS
What Is a Cancellation (Void) and a Refund?
Credit card transactions made via POS sometimes need to be reversed. These are called a cancellation (void) or a refund. What's the difference, and when does each apply?
Laws & Regulations
What Is the Regulation on Bank Cards and Credit Cards? What Does It Contain?
The purpose of the Regulation on Bank Cards and Credit Cards is to set the procedures and principles for issuing and using bank and credit cards and for the activities of institutions in the card payment system.
Credit Card
What Happens If I Don't Pay the Minimum Payment on My Credit Card by the Due Date?
If you miss the minimum payment three times in a calendar year, your card is closed to cash use; if you miss it three times in a row, it is closed to both cash use and purchases until the full debt is paid.
Fraud
What should merchants pay attention to in order to reduce fraud?
In payment systems, fraud means using someone else's credit or debit card to carry out a transaction at a merchant or ATM, gaining unfair profit and causing loss to the real cardholder, the merchant, or the bank. Fraudsters…
Credit Card
What is a prepaid card?
A prepaid card is a customized card, with or without a chip, not linked to a bank account and without a credit limit like credit cards, letting you spend only the amount loaded onto it.
Credit Card
CVR (Card Verification Results)
CVR (Card Verification Results) refers to the results of checks performed on the card. In short, it can be described as keeping the card's transaction log. BYTE 1 Bit 8-7: 00 = The second GENERATE AC command returned an AAC cryptogram (decline)...
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.
Payment Systems
Contactless Transaction Limit Raised to 750 TL
Current information: this post describes the limit at the time of publication. The BRSA raised the contactless card transaction limit to 750 TL, effective 1 July. Above the limit, contactless payments need a PIN. The post also traces the limit's history.
Credit Card
18 Credit Card Installments for Airline, Travel Agency and Accommodation Spending!
To ease payments during post-coronavirus normalization and support domestic tourism, the BRSA raised the credit card installment limit for domestic airline, travel agency and accommodation spending from 12 to 18 months.
Merchant & POS
What is a Mail Order transaction?
Mail Order (Mail Order/Telephone Order) is a transaction made by selecting the Mail Order option on a POS or through the virtual POS interface, entering the card number, expiration date, and CVV2. It is typically used when the cardholder is not present.