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ISO 8583
F61 - POINT OF SERVICE (POS) DATA: This field provides information about the specific status of the POS at the time of the transaction. Position Usage Attribute 1 POS Terminal Attendance Indicator 0 = Attended terminal (Valid for MasterCard debit card and Maestro transactions only).
Payment Systems
The BRSA has introduced a regulation to reduce paper use in POS devices. Cardholders who do not want a paper receipt for card purchases will be able to receive and store it digitally, with the rules taking effect in September and December 2023.
Credit Card
Credit cards can be a convenient way to manage income and expenses, but for those who don't know how to use them, they can become an expensive and risky product. Here are the key pros and cons to weigh before applying for one.
Credit Card
CVR (Card Verification Results) refers to the results of checks performed on the card. In short, it can be described as keeping the card's transaction log. BYTE 1 Bit 8-7: 00 = The second GENERATE AC command returned an AAC cryptogram (decline)...
Payment Systems
Here are the Mastercard and Visa chargeback reason codes that require a cardholder letter and/or supporting documentation, with their descriptions.
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.
Credit Card
A credit card is a payment instrument that lets a customer borrow up to a limit set by the bank after evaluating certain criteria. Transactions made on the card are first recorded in the current-period transactions, then posted as debt on the statement date.
Merchant & POS
An offline transaction is one approved by the card and the POS themselves, without going to any system (the card's bank or the POS's bank), when a chip card transaction is made at a POS. For this reason, some sectors considered risky are restricted.
Credit Card
A credit card is a loan granted by the bank, so it must follow certain criteria and stay within a limit. As card usage changes over time, the need for a higher limit can arise.
Contactless
It is important to use contactless cards to prepare our payment habits for the future. In Turkey, one in every 3 cards and one in every 4 POS terminals is contactless-enabled, yet usage remains around 5%.
Credit Card
An installment transaction splits a payment into a set number of installments reflected on the cardholder's statement, when the card and POS bank are the same. For example, a 1000 TL transaction in 5 installments reflects 200 TL per statement period, starting from the first one.
EMV
DAC is the abbreviation for Data Authentication Code. It is a piece of data assigned by the issuer and held by the terminal during the Signed Static Application Data verification process.