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Online & Authorization
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
If you can't use your card for e-commerce transactions abroad, first check that e-commerce authorization is enabled, that 3D Secure has been set up, and that your bank's authorization system is active. The issue may also originate from the merchant's bank.
Merchant & POS
AUC (Application Usage Control) specifies restrictions that limit an application by geography or by specific transaction types. It is a 2-byte data element in Tag 9F07. If present, the terminal performs checks such as whether the transaction is at an ATM.
Credit Card
Business customers can be issued an ATM card, known as a Business Debit Card. The cardholder must be the person authorized to act legally on behalf of the company, since the card operates on company accounts.
Chargeback
A chargeback is the refund of an amount paid by credit card to the cardholder's card when the purchased goods or services were not received, or when a transaction was not actually carried out by the cardholder.
Merchant & POS
In payment systems, every exchange between POS devices and bank or payment institution systems runs on a specific messaging standard, generally based on ISO 8583. However, each country, bank, or switch network defines its own version of this standard.
Merchant & POS
After a merchant applies to a bank and the required checks on the company are completed, a POS is connected to the customer. Settlement can be commission-based, held for a period, or both, depending on the agreement.
Payment Systems
One of the most notable recent developments in card payments is that contactless limits are no longer fixed and can be managed dynamically per customer. Mastercard and Visa are taking different but complementary approaches, and ISO 8583 may need to evolve with them.
Chargeback
The MasterCard and Visa chargeback reason codes that always, sometimes or never require a draft retrieval before a chargeback, with their descriptions. Includes Visa codes such as 60, 75, 79 and 81 and MasterCard codes 4801 and 4802.
Payment Systems
In POS applications and on the merchant side, we use the term Batch in a similar way to end of day. Every transaction made via POS is held under a batch number reported to the HOST at end of day.
ISO 8583
F43 - CARD ACCEPTOR NAME AND LOCATION: the field that holds the name and location of the merchant/ATM where a card transaction took place. It is 40 characters long and alphanumeric.
Online & Authorization
In EMV, data is stored in Tag-Length-Value (TLV) format, and it is carried between the card, the POS terminal, and the authorization system in this same format. This post lists every EMV Tag, its type, and its description.