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Payment Systems
Contactless payment has greatly improved the user experience, yet its fixed transaction limit is a common complaint. Can this limit be managed dynamically per customer? This post covers the current situation, technical and regulatory requirements and the outlook.
Payment Systems
Regularly reporting and tracking how many transactions fail at each merchant matters for both the merchant and the acquirer. BKM error codes tell us why POS transactions fail.
Security
With Chip&Pin technology, card PINs and chip-based transactions became widespread. As online shopping grew, strengthening the security of these transactions became a necessity, and OTP began providing that transaction security.
Payment Systems
Online PIN is verified by the card-issuing institution through the message itself, while Offline PIN is verified on the chip. This article explains the difference and when PIN bypass is allowed.
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
The payment page is one of the most important steps in whether customers complete a purchase. Asking for the cardholder's name is common practice, but it is not required to charge the card.
Credit Card
KKB was established, under banking law, to enable the exchange of all kinds of information and documents among at least five banks, and it also shares credit information about customers. The Credit Bureau of Turkey also serves deposit banks, participation banks, financial institutions, and more.
ATM
RKL is the process of distributing a TMK (Terminal Master Key) to each terminal from a central point. It is used to remotely load keys onto POS and ATM devices, loading TMKs onto an ATM's keypad or activating them on a POS.
Payment System Institutions
BKM (Interbank Card Center) works through several committees: Security, Operations and Technology, Market Development, Business Development, Chargeback Rules and Arbitration, ATM Sharing, plus arbitration committees. This post outlines each one's duties.
Security
The TBB book 'Fraud Detection and Prevention Methods in Banking' analyzes the types of fraud threatening the banking and finance sector and individuals, with examples from the world and Turkey, and offers protection recommendations. This post explains how to access it.
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.
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.