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Merchant & POS
3D Secure is short for Three Domain Secure (Issuer Domain, the Interoperability Domain and the Acquirer Domain), used to increase security in online transactions. Known to cardholders as 3D Secure, these systems are given unique names by payment schemes (MasterCard, Visa, etc.).
Closed-Loop Payments
Is Alipay a payment system, or a digital economy? In the previous post we discussed how Starbucks shows that payment systems can evolve into a different structure. At first the goal was to make payment easier for the customer. As the system grew, loyalty programs...
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.
Payment Systems
Official Gazette No. 32332 dated 07.10.2023 published the amending Regulation and Communiqué covering digital wallets, e-money, share transfers, cloud outsourcing, remote identity verification and card system choice.
Laws & Regulations
The Regulation on Generating and Using TR QR Code in Payment Services and its attached TR QR Code Principles and Rules document were published in the Official Gazette No. 31220 dated August 21, 2020, to ensure interoperability in QR code payments.
Laws & Regulations
This guide, aligned with the TR QR Code regulation and its annex, describes the workflows for FAST payments using merchant-presented and person-to-person QR codes and defines the related TR QR Code data organization.
Merchant & POS
TR QR Code refers to QR code information created according to the regulation on generating and using the TR QR code in payment services, which can be used in payments under Law No. 6493.
Payment Systems
The Smart Payment Association (SPA) is the trade association of the smart payments industry. It provides leadership and expert guidance to help members and customers realize smart, secure and personalized payment systems and services, now and in the future.
Open Banking
NextGenPSD2 is the set of API standards launched by the Berlin Group in 2017, now involving more than 1,700 banks from 20 countries. This post explains what the framework offers to banks, fintechs and third-party providers under PSD2.
Merchant & POS
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.
Credit Card
EMV chip cards contain a small, powerful microprocessor that provides enhanced security, faster transactions, and support for loyalty programs. VSDC is Visa's chip-based solution; M/Chip-Lite is Mastercard's low-cost equivalent for banks starting their chip migration.
Online & Authorization
EMV stands for Europay, Mastercard and Visa. In 1994 these companies formed a working group to set chip-card standards, leading to the EMV standards used worldwide today.