Credit Card
What Is Post-Purchase Installment Conversion?
Post-purchase installment conversion lets credit card purchases and cash withdrawals be split into installments afterward for a fee. See the rules and limits banks apply.
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ATM
What is a Dispenser?
A dispenser is a part of the ATM. It contains cassettes where cash is loaded; these cassettes are configured during ATM installation. Based on the defined denomination, cash is loaded so the ATM can dispense that type to customers. Does every ATM have a dispenser?
ATM
What Is a Recycling ATM?
The word literally means recycled or circulating. In payment systems, it refers to physically dispensing money deposited at ATMs to customers who want to withdraw cash, adding deposits straight into the withdrawal pool.
Payment Systems
What are Account Information Service Providers?
Digital Account Checking underpins many innovative banking and FinTech services. In most cases, it is performed by Account Information Service Providers, which supply data from customers' online bank accounts to other banks and third-party providers.
Credit Card
What are MasterCard Warning Notice and Visa Card Recovery Bulletin?
The name for a list of problematic cards — lost, stolen, expired, over-limit, counterfeit, or otherwise flagged — published by card companies like Visa and MasterCard. Mastercard calls it the 'MasterCard Warning Notice'.
Credit Card
What Is Anti-Skimming?
ATM skimming is a high-tech crime in which illegal devices are used to electronically steal or copy cardholders' personal financial information from a card's magnetic stripe.
Credit Card
Tell me your BIN number and I'll tell you your card's family tree
BIN is short for Bank Identification Number: a unique, bank-specific number created under ISO/IEC 7812 standards that shows which bank a card belongs to. It is the first 6 digits of a card.
Merchant & POS
What does Not Onus mean?
Not Onus is a payment systems term meaning "Not On Us": a situation where the card-issuing bank and the POS/ATM (acquiring) bank differ. Such transactions are settled through clearing between the two banks.
Merchant & POS
What does Onus mean?
In the payment systems glossary, some terms are essential, including Onus. Onus literally means "on us" and refers to cases where the card-issuing bank and the POS/ATM bank are the same, meaning no clearing commission applies.
Merchant & POS
What is PSD (Payment Services Directive)?
PSD stands for Payment Services Directive, known as the Payment Services Law. It took effect in EU countries in 2009, and in 2015 new revisions were announced as PSD1, aiming to build an efficient, fast, secure, and competitive payment market.
Merchant & POS
A look at April 23 through the lens of digitalization and payment systems
Today is April 23, the 100th anniversary of the opening of the Grand National Assembly. Taking Children's Day as a starting point, this post looks at digitalization, Generation Z, blockchain, biometric payments and the cashless society from a payment systems perspective.
Fraud
What are data leakage frauds?
Data leakage is the intentional or accidental exposure of sensitive data through any channel where it is stored, processed or transmitted. This post covers its three main causes and the DLP solutions used to prevent it.