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Chargeback
A good faith review request is a written request that issuers and acquirers send each other to collect on a transaction when the dispute (chargeback) process cannot be run. The requesting party states its grounds.
Merchant & POS
Pre-authorization closing turns a pre-authorized transaction into a financial one, posting it to the merchant and cardholder accounts. See how amounts and available limit are affected.
Online & Authorization
Below are the possible response code values for offline transactions and their explanations: Response Code / Explanation - Y1: Approved offline, Z1: Declined offline, Y2: Approved after referral, and more.
Security
Fraud cases where scammers pose as bank staff or other institution employees to obtain citizens' banking information have increased significantly recently. Interestingly, the new fraud trend closely mirrors the steps of a genuine banking procedure.
Merchant & POS
In e-commerce transactions, the system developed to increase transaction security for payments made with credit and debit cards is called 3D Secure. When paying with 3D Secure, a special payment screen provided by the banks appears on the user's screen.
Security
A CP transaction refers to a card transaction in which the card and cardholder are physically present at the location. Card Present transactions occur when the card's magnetic stripe or chip data is read by a POS terminal or ATM, or via contactless.
Merchant & POS
A POS batch close triggers reconciliation between the transactions under that batch number and the bank's records, and starts the transfer to the merchant's account.
ISO 8583
DE 13 — Date, Local Transaction: the date on which the transaction took place at the point of transaction (ATM, POS). It is 4 digits in MMDD format.
Merchant & POS
In the world of payment systems, there are new developments every day in both accepting payments and payment methods. QR code payments will undoubtedly become more common in the coming days, and we will make payments with QR codes in many places.
Payment Systems
The number of consecutive transactions you can make with your card in a day is set by the bank or institution that issued it. For details, contact the customer service of the bank or institution that issued your contactless card.
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)?
From My Readers
A reader asked why ATMs can't warn customers that a not-on-us withdrawal is using their overdraft. The short answer: BKM currently works only with the available limit, and banks include the overdraft in it.