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Fraud
Contactless transactions have grown rapidly, but can a payment really be made from your wallet without your knowledge? Here is what the actual risks and safeguards look like.
EMV
The Visa EAS Server (Extended Access Service) is a server used in Visa’s authentication infrastructure. It was developed to run the cardholder authentication process securely between banks and the Visa network, particularly within Visa Secure (3-D Secure 2.x).
Payment Systems
The Smart Payment Association (SPA) is the trade association of the smart payments industry. It provides leadership and expert guidance to help members and customers realize smart, secure and personalized payment systems and services, now and in the future.
HCE
When we talk about HCE methodology, many interacting architectural components come to mind. The core terms describing this architecture are listed below, starting with GCM/FCM (Google/Firebase Cloud Messaging), a service for sending push notifications.
Merchant & POS
GO Secure Payment is a system developed by BKM that verifies cardholders using a one-time password (OTP) during online purchases made with TROY cards, providing banks with a secure verification platform without needing to store card data.
Credit Card
CNP refers to a transaction made through a website or a company's own app payment page, where the card is not read by any device and its details are entered manually. It is short for Card Not Present.
Open Banking
API, used as an abbreviation for Application Programming Interface, is an interface that allows an application's functions to be accessed and used from outside or remotely, letting a server application be reached from different platforms.
Credit Card
ISO/IEC 7816 is an international standard jointly maintained by ISO and IEC, covering contact-based electronic identification cards, especially smart cards. It consists of 15 different parts, each covering a different aspect of smart card technology.
E-commerce
BKM Express has pioneered card storage and digital wallets in Turkey. After the Competition Authority's termination decision, a Board decision revoked it, so BKM Express will continue. Here is the latest situation.
Debit Card
A contactless transaction is a fast, secure payment made between a chip card and a POS device without direct contact, without the card's chip or magnetic data being read through the card reader. Can this be done with a debit card (ATM card)?
Merchant & POS
Card storage is a system, secured with PCI DSS certification, for storing credit and debit card details safely. It saves consumers from entering their card details again and again on frequent purchases.
Contactless
As end users, we have come to love contactless payments, which are becoming a bigger part of daily life. So what features let contactless cards make payments without touching the POS terminal? There are two classes: MSD cards and Contactless EMV cards.