Merchant & POS
What's the Difference Between a Reversal and a Cancellation (Void)?
What's the difference between a reversal and a cancellation (void)? Both zero out a transaction's financial effect, but they're triggered in very different ways.
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"Void"
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Merchant & POS
How does the cancellation (void) process work on a POS?
Many transactions are carried out with cards on a POS terminal. Sometimes a transaction must be reversed, and cancellation (void) is one such transaction. A Sale can only be cancelled on the POS before the batch (end of day) is closed; otherwise a refund is needed.
Merchant & POS
What Is a Cancellation (Void) and a Refund?
Credit card transactions made via POS sometimes need to be reversed. These are called a cancellation (void) or a refund. What's the difference, and when does each apply?
Merchant & POS
Key Points to Watch for in Recurring Payments
Winning customers is one of the most important things in business, but keeping them satisfied matters just as much. If you collect payments at regular intervals, such as monthly, these tips will help you improve the success rate of recurring collections.
Credit Card
What are Credit Card Status Codes in Authorization?
Cases where authorization approval is declined have always puzzled cardholders. Whenever the response code requires contacting the issuing bank (usually for declined transactions), the date, amount, and response code of the failed transaction become very important.
Chargeback
What Are the American Express Chargeback Reason Codes?
Chargeback reason codes vary by card scheme. The Amex chargeback reason codes and their descriptions are listed below: American Express Chargeback Reason Codes A01 The charge you submitted did not receive a valid authorization approval code for the amount...
Merchant & POS
What is a Collection POS?
A Collection POS is a secure, web-based payment platform through which businesses and institutions manage their collections and generate the reports they need. Many similar products exist on the market under different names.
Credit Card
If I close my credit card, are the transactions made on it deleted?
A credit card is a payment instrument that lets a customer borrow up to a limit set by the bank after evaluating certain criteria. Transactions made on the card are first recorded in the current-period transactions, then posted as debt on the statement date.
ISO 8583
ISO 8583 Field Descriptions (F7)
F7 - TRANSMISSION DATE AND TIME: the field containing the moment the initiating party started the transaction. It is a 10-character numeric value in MMDDhhmmss format.
Merchant & POS
Terms that should be in your payment systems glossary
Below are the definitions of the cornerstone terms of payment systems, as established by the Banks Association of Turkey (TBB): debit card, credit card, merchant, cardholder, and more.
Merchant & POS
How is a software version uploaded to a POS terminal?
To upload a version to a POS, the software on the POS and the authorization system on the bank side must support it. Version upload to a POS can be done manually on the device itself, or via a remote upload request.