Search
68 articles found
Credit Card
The Luhn algorithm was developed by Hans Peter Luhn and IBM in 1954. It is also known as the Luhn Check or Mod Check. It is used in two ways: preparing a given number according to the Luhn algorithm, and validating a given number using the Luhn algorithm.
Payment Systems
Digital Account Checking underpins many innovative banking and FinTech services. In most cases, it is performed by Account Information Service Providers, which supply data from customers' online bank accounts to other banks and third-party providers.
Courier & Delivery
Barcode numbers are essential for the Courier system, since cards are distributed using the barcode number. So does the barcode number have a generation algorithm, or is it just randomly generated? The barcode number does have a generation algorithm.
ISO 8583
F2 is the Card Number field in ISO 8583, identifying the cardholder and issuing bank. This post covers its structure, the 8-digit BIN update, field format, first-digit scheme identification, and PCI DSS security requirements.
Credit Card
ISO/IEC 7812 is a standard that primarily describes the card numbering system and the application and registration procedures. Identification cards, in physical or digital form, are an integral part of operations in many industries.
Credit Card
PVKI is the abbreviation for PIN Verification Key Index. It is located within the card's Track 1 and Track 2 data and is used in PVV calculation. It can take values from 1 to 6, usually defaulting to 1.
Credit Card
In the standard authorization flow, the transaction is initiated by the acquirer (POS bank) and forwarded to the issuer (card-issuing institution). The process is completed once the issuer responds. However, this isn't always possible; when the issuer fails to respond, BKM steps in...
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).
Merchant & POS
The MCC code, or Merchant Category Code, is a 4-digit code used to classify merchants. Some MCC codes are restricted or prohibited, and POS terminals or card transactions may be blocked when such a code is used.
HCE
Tokenization and digitization are two important terms in mobile payments that are easily confused and often used interchangeably. What is the difference between digitization and tokenization?
Security
Payment security is very important in payment systems. To increase security, transactions require additional information such as PINs and passwords. Remembering which information to use, and keeping it in mind without forgetting…
Merchant & POS
Chip&Pin, introduced in Turkey on March 31, 2006, is a payment method that greatly reduces the risks of card copying and loss or theft fraud. The chip on the card reduces copying risk, while the 4-digit PIN prevents unauthorized use of a lost card.