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Merchant & POS
Visa's Merchant Data Standards Manual covers classification, identification and data standard requirements for merchants, payment facilitators and marketplaces, including merchant naming, location and MCC rules. Here is what it contains and where to find it.
Security
The first transaction made after a customer's card data is stored with a merchant is called the First Credential-On-File transaction. BKM expects it to be flagged with the value "C" in switch message field DE48.PDS86, and BRSA draft rules govern how card data may be stored.
HSM & Security
Non-face-to-face transactions in which the cardholder authorizes the merchant to store card data, and the merchant uses that stored data to carry out the transaction, are called Credential-on-File (CoF) transactions.
Fraud
Chargeback is the process of refunding a credit card payment when the goods or services that should have been received were not, or when transactions not made by the cardholder are identified. In Turkish it is translated as reversal of presentment.
Payment Institutions & E-Money
On 7 October 2023, the CBRT amended the Communiqué on Information Systems of Payment and E-Money Institutions and Data Sharing Services of Payment Service Providers, first published on 1 December 2021. Links to the new text, a comparison table and a detailed summary of changes follow.
Merchant & POS
According to the Central Bank, the maximum commission rates banks may charge merchants are based on a reference rate: the latest two-week weighted average interest rate on 32–45 day Turkish lira deposits.
Merchant & POS
Per BKM data, 3 in 5 merchants accept contactless payments and 1 in 10 credit card transactions is contactless. From 1 August 2019, contactless payments by card or mobile device are allowed without a PIN up to 120 TL.
ISO 8583
DE 48 - ADDITIONAL DATA: these are additional data fields that can be used specifically for transactions. It is 255 characters long. Field F48 carries many pieces of information and is divided into PDS (Private Data Subelements).
Security
An external network scan run every 3 months by an Approved Scanning Vendor authorized by card schemes such as MasterCard and Visa, required for PCI DSS compliance. It checks whether merchant systems are protected against external threats.
Merchant & POS
No. Besides the terminal data, contactless limits can also be managed from the chip data. A “Use Merchant Contactless Limits” field decides which set of limits the POS applies.
Merchant & POS
On-Us Leakage is a term used in the world of payment systems. On-us means the card-issuing bank and the POS-acquiring bank are the same. So what does on-us leakage mean in this context?
Merchant & POS
All banks report the POS and merchant data they allocate to customers to BKM's MIV and MPV systems, which BKM then reports. These notifications include merchant and POS location details such as address, province, and district.