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Payment Systems
Cards are delivered to customers by courier, and at several points along that chain a card could theoretically be intercepted. To prevent misuse before delivery, banks print new and Lost/Stolen replacement cards as Temporarily Blocked, activating them only once the customer receives them.
Security
Credit cards are one of the most important payment instruments in daily life. As technology advances and mobile payments and ATMs handle nearly all transactions, credit card fraud is also diversifying and increasing.
ATM
ATMs generally hold your bank/credit card inside the card reader slot until the transaction is completed. Fraudsters insert foreign objects such as paper or adhesive-coated cards into the reader to trap the customer's card inside.
Credit Card
With the advancement of technology, the use of credit cards in online transactions and the variety of payment methods have increased. To make an online transaction with a credit card, you need: Card Number, Expiration Date, and CVV2 (the 3-digit number on the back of the card).
Fraud
Fraud monitoring refers to tracking card transactions through scenarios to detect potential fraud and taking rapid action immediately before or after a transaction occurs - such as identifying a suspicious transaction, calling the customer, or temporarily blocking the card to prevent authorization.
Credit Card
The PIN Try Count is the maximum number of failed offline PIN verifications that can be made with the card. Banks usually keep both the consecutive wrong PIN count and the maximum wrong PIN count.
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.
Fraud
Fraud management is used to detect possible fraud on customer accounts and provides additional security for transactions when necessary, making it one of the top priorities for banks.
Online & Authorization
A reference guide to authorization response codes seen on POS and ATM transactions, with plain-language explanations of what each code means and what to do about it.
Credit Card
A prepaid card is a customized card, with or without a chip, not linked to a bank account and without a credit limit like credit cards, letting you spend only the amount loaded onto it.