Payment Systems
What are the Visa and MasterCard product codes?
Below is information on the products found in the Visa and MasterCard systems and their associated product codes, listed under Product ID (cardProductId).
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52 articles found
Payment Systems
What Is TCR (Transaction Record Component)?
TCR stands for Transaction Record Component, the packets that carry transaction information in a clearing system. Transaction types in a clearing file are distinguished by transaction code and usage code values, and this data is sent inside TCR packets.
Courier & Delivery
How Is Bank Integration Done for Card Distribution via Courier?
Courier companies and banks generally carry out the card distribution process through file exchanges. (Some banks also use web service integration; in that case the information normally sent via file is transmitted within the service.) With the courier...
Courier & Delivery
Is It More Sensible to Integrate with the Courier via Web Service or File Transfer?
Although some banks use web service integration, banks generally handle card distribution with couriers through file exchanges, with information sent within the service instead.
Merchant & POS
What is QR (Quick Response) Code?
QR Code is a two-dimensional barcode system developed by Denso Wave, a Toyota subsidiary operating in Japan. Its name comes from the initials of Quick Response. Its content can be any data, including text, a website address, or a video link.
Payment Systems
What is Takasbank?
Takasbank (Istanbul Settlement and Custody Bank) exists to increase the competitiveness of Turkey's markets by providing clearing and custody services, financial services, and other economic activities under the relevant legislation.
Payment Systems
What Stages Do Cards Go Through Before Reaching the Customer?
Couriers are used to physically deliver cards (credit, debit, prepaid) to customers. Here is a brief look at the card's life cycle, from application and printing to courier sorting and final delivery.
Credit Card
What is the Service Code on Cards?
The service code is information printed on a card's Track 1 and Track 2 data, covering card type, PIN usage, and domestic/international usage status. It is kept at the product level in bank systems.
Chargeback
What is a Retrieval Request?
A chargeback is when cardholders dispute a transaction made without their knowledge through their card-issuing bank. So what does a Retrieval Request mean? It is essentially a document request related to transactions a cardholder does not recognize on their statement.
Chargeback
What Is a Soft Chargeback?
A soft chargeback, also called a retrieval request, is a request for documents about a transaction the cardholder does not recognize. Learn why customers request them, what information merchants should provide, and why a fast response matters.
Online & Authorization
Issuer Action Code (IAC)
These are codes that communicate the issuer's conditions for approving a transaction online (IAC-Online), for declining it (IAC-Denial), or for declining it when the terminal cannot go online (IAC-Default).
Merchant & POS
What Happens Behind the Scenes When a QR Code Is Scanned? | Closed-Loop Payments #2
In the first post I explained what closed-loop payment systems are and how they differ from open-loop ones. Many of the replies I received boiled down to one question: how do these systems actually work behind the scenes once a QR code is scanned?