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E-commerce
Can a product bought online be returned, and under what conditions? This post explains the 14-day right of withdrawal in Turkey and the cases in which Law No. 6502 on Consumer Protection removes the right of return.
Credit Card
A structure developed by Visa for purchase refund transactions. The purchase return authorization message lets cardholders view their refund transactions in real time, improving the customer refund experience.
Credit Card
You start a transaction at an ATM and your card is returned, even though you think nothing is wrong. Here are the response codes usually used in these cases.
Closed-Loop Payments
Why does a coffee chain build its own loyalty program, and why does a payment app keep adding services? This post looks at how loyalty, data, and new services drive the growth of closed-loop payment systems, and at the financial layers behind that growth.
Payment Systems
After switching to response code 70 for contactless limit-exceeded cases, we found that some overseas POS devices and acquirers did not handle it as expected. This post covers why the problem lies in the ecosystem and how to address it.
Merchant & POS
In EMV transactions, Application Selection is the process of choosing among the applications supported by both the card and the terminal. It is the first stage of authorization, so it is very important. This post covers the PSE and List of AIDs methods.
Chargeback
Chargeback reason codes vary by card scheme. The Amex chargeback reason codes and their descriptions are listed below: American Express Chargeback Reason Codes A01 The charge you submitted did not receive a valid authorization approval code for the amount...
Credit Card
CVR (Card Verification Results) refers to the results of checks performed on the card. In short, it can be described as keeping the card's transaction log. BYTE 1 Bit 8-7: 00 = The second GENERATE AC command returned an AAC cryptogram (decline)...
Payment Systems
In card payment transactions made via a physical POS device, entering the card's PIN keeps the transaction secure, while in virtual POS transactions, security is provided through the 3D Secure flow. Are 3D Secure payment methods standardized? There are 3 different 3D Secure models.
Security
E-commerce has grown significantly in recent years, and so have negative experiences and concerns about trust. This post summarizes the basic consumer rights under Law No. 4077: the right of withdrawal, cargo delivery rights, defective products and the Consumer Arbitration Committee.
Laws & Regulations
The Equity-Based Crowdfunding Communiqué entered into force with its publication in the Official Gazette on 03.10.2019 and explains how money is raised from the public through crowdfunding platforms in exchange for shares. What are crowdfunding and equity-based crowdfunding?
Merchant & POS
CAVV and AAV are verification codes used in 3D Secure transactions to ensure transaction integrity and security. CAVV is used by Visa, while AAV is used by Mastercard.