Merchant & POS
What Is a Marked-Up Exchange Rate?
In payment systems, exchange rate information is used in two places: POS devices that support foreign currency transactions, and credit card transactions made in a foreign currency (usually abroad).
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"exchange rate"
21 articles found
Online & Authorization
How does the international transaction flow work?
When a card transaction is made abroad, banks usually calculate the cost from a percentage commission, a fixed commission, and an exchange rate margin. The flow starts when the customer requests a cash withdrawal at a foreign ATM.
Credit Card
What causes the difference between the Transaction Amount and the Amount Deducted from the Account in foreign transactions?
In foreign transactions the Transaction Amount is taken online from the customer's account, but what matters is the amount transmitted at clearing, so exchange rate fluctuations between the two moments can create risk for the bank.
Merchant & POS
What Is a MultiCurrency POS?
Multicurrency POS refers to POS devices that can process transactions in foreign currencies (USD, EUR, GBP, etc.) in addition to Turkish Lira. Merchants using a MultiCurrency POS can process transactions in different currencies for international cardholders.
Chargeback
What are the chargeback dispute types?
A chargeback is a dispute raised against a card transaction when the cardholder did not make it or does not recall it. The dispute types vary depending on the situation; let's look at them.
ISO 8583
ISO 8583 Field Descriptions (F9)
DE 9, Conversion Rate, Settlement, carries the settlement conversion rate. It is an 8-digit numeric value: the first digit shows the decimal position from the right and the next 7 digits show the value.
ATM
What Is a Bitcoin ATM? How Does It Work?
A Bitcoin ATM (BTM) is a specialized kiosk designed for Bitcoin transactions, letting users buy and sell Bitcoin. General features: it enables Bitcoin purchases and sales, and while it visually resembles traditional ATMs...
Credit Card
Can I withdraw cash from an ATM with my credit card?
You can withdraw cash from an ATM using your credit card by accessing your account. The prerequisite is that a current account must be linked to your card. If not, only limited functions are available.
ISO 8583
ISO 8583 Field Descriptions (F10)
DE 10, Conversion Rate, Cardholder Billing, is an 8-digit numeric value. The first digit shows the position of the decimal point from the right, and the next 7 digits show the value.
Payment Systems
Preventing Financial Losses in Payment Systems: Authorization, Clearing, and the Reversal Mechanism
Every payment transaction completes in seconds, yet dozens of controls run behind the scenes. This post covers the precautions for authorization and clearing, the critical role of reversals, and the financial loss scenarios most often seen in the field.
Payment Systems
What is Foreign Currency POS? What are the key points?
Foreign Currency POS is the POS software that lets merchants process transactions in a foreign currency. Terminals without it can only collect payments in Turkish lira. It comes in two common forms: Multicurrency POS and DCC POS (Dynamic Currency Conversion).
Credit Card
Where are the Troy and Discover logos printed on Discover-enabled Troy cards?
Troy is Turkey's national payment system scheme, short for "Turkiye's Payment Method." When Troy cards first launched, they could only be used domestically. A partnership with Discover later made it possible to use Troy cards abroad as well.