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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.
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.
Payment Systems
Let's talk about payment systems, which we have heard more about since the internet entered our lives, and the basic structures behind them. The first credit card in the world was used in America in the 1920s.
Payment Systems
A non-secure transaction is an e-commerce transaction approved without any verification before authorization, such as SMS OTP. In short, authorization is obtained by verifying only the card number, expiration date, and CVV2.
Payment Institutions & E-Money
Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions defines a payment instrument as a personalized device such as a card, mobile phone, or password.
Payment Systems
Strong Customer Authentication (SCA) is a security requirement introduced under the EU's Payment Services Directive 2 (PSD2) to increase security and reduce fraud in online payment transactions. SCA requires two of three independent authentication factors.
Security
Social engineering is the art of obtaining information people should normally keep private by exploiting the human factor. In its computer- and technology-based form, the information is obtained through technology.
Merchant & POS
CAVV and AAV are verification codes used in 3D Secure transactions to ensure transaction integrity and security. CAVV is used by Visa, while AAV is used by Mastercard.
Merchant & POS
GO Secure Payment is a system developed by BKM that verifies cardholders using a one-time password (OTP) during online purchases made with TROY cards, providing banks with a secure verification platform without needing to store card data.