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Online & Authorization
In EMV, data is stored in Tag-Length-Value (TLV) format, and it is carried between the card, the POS terminal, and the authorization system in this same format. This post lists every EMV Tag, its type, and its description.
Online & Authorization
OpenAI and Stripe announced the Agentic Commerce Protocol (ACP), with Instant Checkout live on Etsy and Shopify in the US. What this means for payment facilitators and e-commerce platforms, and what may come beyond one-click checkout.
Payment Systems
Every payment transaction completes in seconds, yet dozens of controls run behind the scenes. This post covers the precautions for authorization and clearing, the critical role of reversals, and the financial loss scenarios most often seen in the field.
EMV
The AID tells the terminal which applications are present on a chip during a POS or ATM transaction. What does the AID do? It lets the terminal determine whether it supports an application on the chip. In Tag 9F06, it is 5-16 digits long.
Agentic Commerce
Are We Ready to Give an AI Agent the Authority to Make Payments? Having long looked at complaint and dispute processes in payment systems, I think granting an agent payment authority is far different from research or product selection.
Cryptocurrency
Cryptocurrencies are becoming part of everyday life and are expected to compete seriously with card payments. This glossary explains the key crypto terms, from address, altcoin and arbitrage to halving, mining, proof of stake and stop-loss.
Credit Card
Credit card fraud keeps changing form, but the aim is always to trick the cardholder into giving up card details. Fraudsters posing as delivery couriers now copy cards on modified POS devices. Here is how the scam works and how to protect yourself.
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)?
Payment Systems
Open banking means sharing financial data with third parties securely, and Payment Services Data Sharing Services (OHVPS) are the two core payment services under it. This post explains both and where to find the participant list on the BKM website.
Credit Card
While reviewing your credit card statement, you suddenly notice a transaction you never made. What would you think? Is your card going shopping while you sleep? Let's look at how this can happen and what to do about it.
Credit Card
In the world of payment systems, just as credit cards are an indispensable product, a payment scheme is indispensable for credit cards. When a credit card product is launched, the scheme it will be issued under is decided first.
HCE
Token types vary depending on the verification method used in a transaction. In offline transactions, general checks are performed by the mobile app and card reader without any verification in the card system. In online transactions, token verification is sent to and verified by the issuer.