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Illustration of a new-generation smart cash register combining a fiscal device and a POS terminal

Merchant & POS

What You Need to Know About Smart Cash Registers (OKC)

A smart cash register is a new-generation, IP-based payment recording device that integrates a cash register with a POS terminal. It combines fiscal devices and POS devices in a single unit and transmits data to the Ministry of Finance in real time.

Z Report printout from a cash register

Merchant & POS

What is a Z Report?

A Z Report is a report taken at the end of the business day, bearing a sequential number, that gives detailed information about sales made using a cash register during a business day, the revenue earned, and the VAT collected.

Chart of the effects of credit card usage on inflation

Credit Card

Does Credit Card Usage Increase Inflation?

The effect of credit cards on inflation has been debated for years. Because I am asked about it so often, I ran a poll on arifunal.com to gather readers' views. This post weighs the positive and negative effects and compares the poll with the research findings.

Mobile phone used to accept payments through the Secure Mobile Payment System

Merchant & POS

What Is Secure Mobile Payment?

The Secure Mobile Payment System is a system permitted by the Ministry, operated under the Revenue Administration (GIB) Communiqué, for sales, payment and collection transactions and the electronic creation, transmission and retention of the related financial documents.

Diagram showing different types of POS terminals used for card payments

Merchant & POS

What Is a POS (Point of Sale)?

Virtual or electronic authorization devices connected to a bank, used by merchants to accept card payments. The term comes from the English phrase Point of Sale. Covers POS types by communication method, their advantages, who can use one, and the transactions a POS can perform.

TR QR Code supported payment devices

Payment Systems

Which Devices Can I Pay From With the TR QR Code?

According to BKM's TR QR Code Technical Principles and Rules Guide for card payments, QR code payment structures apply to EFTPOS, shared EFTPOS, ÖKC, ATMs, payment provider apps, static QR codes and virtual POS.

Diagram illustrating BKM TechPOS shared POS infrastructure

Merchant & POS

What is BKM TechPOS?

BKM TechPOS is an infrastructure through which card acquirers and POS/cash register manufacturers can interoperate via BKM, letting all participating banks provide card acceptance services on a single device.

Diagram of a partial authorization where an issuer approves only part of the requested amount

Merchant & POS

What Are the Partial Authorization Requirements for an Acquirer Bank?

Partial authorization lets an issuer approve part of the requested amount when the card lacks the full balance, with the rest paid another way. This post covers the technical, receipt, clearing, reconciliation, merchant and certification requirements for acquirers.