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Merchant & POS
The EU Payment Services Directive 2 (PSD2) is the EU's payment services law. ÖDED translated it into Turkish, creating an important handbook for anyone wanting to invest or work in this area.
Security
These are passwords generated for one-time use and sent to the cardholder's phone to verify card transactions in payment systems. The password sent during a 3D Secure transaction is a common example.
ATM
ATMs hold large amounts of cash, which keeps them in fraudsters' sights. Diebold Nixdorf and NCR report that jackpotting attacks have reached the United States. Here is what happened and what precautions can improve ATM security.
Clearing
Chip Condition Code is a code carried in the F60 (Additional Data) DE14 field during clearing that shows the chip read status. The possible values and their descriptions are listed below.
Fraud
Contactless transactions have grown rapidly, but can a payment really be made from your wallet without your knowledge? Here is what the actual risks and safeguards look like.
Fraud
A man-in-the-middle attack is a method in which an attacker inserts themselves between the server and client to intercept users' information, steal passwords, and gain access to accounts on a local network. This fraud mostly occurs over public internet connections.
Credit Card
Digitalization is reshaping payment systems. Credit cards are moving from physical plastic to virtual cards, e-wallets and mobile payments. Will physical card use disappear completely? Here is a look at the trends, Generation Z and the remaining gaps.
EMV
The Card Block command is used after card issuance to deactivate all applications within the ICC, including applications that could be selected indirectly. The components of the command are explained below.
EMV
The Application Block command is sent to invalidate the selected application on a card after the card has been issued. Unlike Card Block, it can be reversed.
EMV
An EMV Issuer Script is a system that lets the issuer (the institution that issues the card) update and change the parameters and values on the card chip while it remains in use, reducing fraud over the card's lifetime.
Credit Card
The PIN Try Counter is a value stored on the card's chip showing the number of remaining offline PIN attempts. Each incorrect offline PIN entry decreases it by 1, and it resets when the correct PIN is entered.
Credit Card
It is a CVV2/CVC2 code that changes every few minutes instead of the static code printed on the back of a credit card, aimed at reducing fraud risk in CNP (Card Not Present) transactions.