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Closed-Loop Payments
In the final post of the closed-loop payments series, the common question behind cards, QR payments, and prepaid balances comes into focus: who manages the customer relationship, and whose ecosystem does the customer stay in?
Closed-Loop Payments
Why does a coffee chain build its own loyalty program, and why does a payment app keep adding services? This post looks at how loyalty, data, and new services drive the growth of closed-loop payment systems, and at the financial layers behind that growth.
Credit Card
From the outside, Visa contactless looks simple, but once the limit is exceeded and PIN comes into play it gets deeper. Why do response codes 65 and 70 behave so differently on POS devices in different countries, such as the Netherlands and Saudi Arabia?
Payment Systems
In payment systems, an “appeal” is the process of objecting to the outcome of a transaction dispute. It is usually discussed alongside chargebacks, but it plays a critical role in interbank dispute resolution, when a party asks the card scheme to re-evaluate a concluded decision.
Payment Systems
How do banks fund so many points, bonuses, and discounts? This post explains the credit card profitability model: merchant commissions, interchange, interest income, installments, and why campaigns are an investment in transaction volume rather than a cost.
Merchant & POS
Visa's Merchant Data Standards Manual covers classification, identification and data standard requirements for merchants, payment facilitators and marketplaces, including merchant naming, location and MCC rules. Here is what it contains and where to find it.
Merchant & POS
In payment systems, every exchange between POS devices and bank or payment institution systems runs on a specific messaging standard, generally based on ISO 8583. However, each country, bank, or switch network defines its own version of this standard.
Payment Systems
The domestic authorization flow for below-CVM-limit online contactless transactions has changed. Issuers can now ask the cardholder for a PIN or request card insertion instead of simply approving or declining. This post explains the CVM list and the new DE48 PDS22 and DE39 = 65 message flows.
Merchant & POS
The Transaction Success Rate (TSR) is a key performance metric measuring the percentage of attempted payment transactions that complete successfully, and a critical indicator of overall payment health.
Laws & Regulations
With the communiqué published in the Official Gazette today (4 November 2023), electronic money institutions will be able to onboard customers remotely, a sign that they will play a bigger role in our lives while improving customer satisfaction and speed.
Payment Systems
Cards are delivered to customers by courier, and at several points along that chain a card could theoretically be intercepted. To prevent misuse before delivery, banks print new and Lost/Stolen replacement cards as Temporarily Blocked, activating them only once the customer receives them.
Payment Systems
Let's start by defining e-money. In general terms, e-money is a monetary value stored on a secure technological device (such as a computer disk). E-money is a concept defined under Turkish law through legislation enacted by the BRSA (BDDK).