ISO 8583
ISO 8583 Field Descriptions (F95)
DE 95, Replacement Amounts, shows the transaction amount information in full or partial reversals. Here are its subfields and how it relates to F4.
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ISO 8583
ISO 8583 Field Descriptions (F32)
F32 - ACQUIRING INSTITUTION IDENTIFICATION CODE: the 11-digit acquirer bank ID. The values it can take for domestic transactions and by card brand include Visa, MasterCard, UnionPay, Discover and JCB formats.
Credit Card
What Is a BIN (Bank Identification Number)?
BIN stands for Bank Identification Number, the unique code made up of a card's first 6 digits that identifies which bank issued it, under the ISO/IEC 7812 standard.
Credit Card
What Is TROY?
TROY, announced by the Interbank Card Center (BKM) in September 2015, is a card scheme like VISA, MasterCard, or AMEX. It takes its name from the initials of its Turkish slogan meaning 'Turkey's Payment Method'.
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 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
Offline PIN Counter = 0 Scenario: Who Is Liable for Transactions Approved Without a PIN?
In EMV-based debit card transactions, PIN verification is decisive for both security and liability. What happens when a card that only supports online PIN is sent to the issuer without a PIN, and the issuer approves it? Who owns the risk?
Credit Card
Do I Need to Generate a Certificate When Issuing Cards Under a New BIN?
Yes. A certificate must be generated for every new BIN and loaded onto the card chip, establishing secure communication between the chip and the terminal. This is especially critical for verification in offline transactions.
Merchant & POS
Is It Possible to Initiate an EMV Transaction Directly with Credit Card Track Data (Magnetic Stripe Data)?
It is not possible to initiate an EMV transaction directly with credit card Track Data (magnetic stripe data), because EMV transactions use a different technology and security mechanism. Why can't an EMV transaction be initiated with Track Data?
Payment Systems
Regulation Amending the Regulation on Payment Services, E-Money Issuance and Payment Service Providers Published
Official Gazette No. 32332 dated 07.10.2023 published the amending Regulation and Communiqué covering digital wallets, e-money, share transfers, cloud outsourcing, remote identity verification and card system choice.
Payment Systems
WhatsApp Payments Now Possible Without a Credit Card
WhatsApp, one of the world's leading messaging apps, is rolling out a long-awaited new feature. After the update, users in Brazil will be able to shop and pay from within the app. Meta announced that users can now pay small businesses directly in WhatsApp.
Credit Card
What Is MIR, the Russian Payment Scheme?
Mir means World and Peace. It is a national payment system established by a law adopted by the Central Bank of Russia on 1 May 2017. It is currently accepted mostly by Russia-based companies, but acceptance is gradually spreading.