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Credit Card
When banks launch a new card product, they can do it under an existing BIN or a new one. A new BIN requires much more work: BKM announces it, every bank defines it and every POS has to download it.
Credit Card
The following steps should be followed when launching a new product: decide on the brand, request a new BIN from the scheme (Mastercard, Visa, Troy), define the BIN in the bank's system, generate keys in the HSM, and roll it out after certification.
Payment Systems
Below is information on the products found in the Visa and MasterCard systems and their associated product codes, listed under Product ID (cardProductId).
Credit Card
In the world of payment systems, just as credit cards are an indispensable product, a payment scheme is indispensable for credit cards. When a credit card product is launched, the scheme it will be issued under is decided first.
Payment Systems
Major technology companies' love for payment systems shows no sign of ending; in fact, some are just getting started. Apple, Huawei, and Google had previously announced plans to issue cards. According to new reports, Samsung is joining them.
Merchant & POS
In the first post I explained what closed-loop payment systems are and how they differ from open-loop ones. Many of the replies I received boiled down to one question: how do these systems actually work behind the scenes once a QR code is scanned?
Payment Systems
Fintech, short for financial technologies, is a term for companies that bring together finance and technology to provide easy and fast financial services, growing rapidly worldwide.
Payment Institutions & E-Money
The Law provides for judicial fines and prison sentences for people who act as a payment or electronic money institution without the required licenses, and for those who use names suggesting they do.
Credit Card
Visa, Mastercard, and TROY logos on a card represent the payment scheme behind it. Learn what these brands actually do and how a new BIN gets certified.
Merchant & POS
A POS is a functional device with its own dedicated software, customized according to the authorization system of the bank it is connected to, that accepts credit or debit cards. So, banks abroad launch dozens of new card products every day…
E-commerce
B2B (Business to Business) is the name for systems used in the dealer networks of large companies, where dealers run supply, stock, distribution and marketing processes efficiently in a closed network.
Credit Card
Amex is short for American Express, a payment scheme like Mastercard, Visa, or TROY. Learn its history, what sets Amex cards apart, and whether every website accepts them.