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Closed-Loop Payments
Is Alipay a payment system, or a digital economy? In the previous post we discussed how Starbucks shows that payment systems can evolve into a different structure. At first the goal was to make payment easier for the customer. As the system grew, loyalty programs...
Payment Systems
The MasterCard and Visa Chargeback Reason Codes Requiring a Written Merchant Rebuttal are listed below. Visa: Supporting documentation (sales drafts, contracts, proof of delivery) always strengthens the case. Codes include 30, 41, 53, 57, 75, 80, 85, 86 for Visa and 4831-4863 for MasterCard.
Credit Card
A structure developed by Visa for purchase refund transactions. The purchase return authorization message lets cardholders view their refund transactions in real time, improving the customer refund experience.
Credit Card
What is BKM Express? BKM Express is a technical infrastructure solution developed by BKM that lets you pay securely for online purchases without sharing your card's full details. What are the advantages of BKM Express? To register your card you don't need to enter all…
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.
Merchant & POS
Address Verification Service (AVS) is a fraud prevention system that helps limit fraud and chargebacks when used effectively. It verifies that the address a customer enters matches the cardholder's address on file with the issuer.
Security
In online shopping, converting product browsing into a completed sale after a customer visits your site is just as critical. The amount of purchases abandoned due to friction in the online buying process often exceeds successful sales.
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.
FAST
The upper limit for FAST transactions, which enable fast money transfers between banks, was raised to 50,000 TL per transaction as of 21 December 2023.
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.
Online & Authorization
A reference guide to authorization response codes seen on POS and ATM transactions, with plain-language explanations of what each code means and what to do about it.
Payment Systems
TCR stands for Transaction Record Component, the packets that carry transaction information in a clearing system. Transaction types in a clearing file are distinguished by transaction code and usage code values, and this data is sent inside TCR packets.