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Credit Card
Yes. A certificate must be generated for every new BIN and loaded onto the card chip, establishing secure communication between the chip and the terminal. This is especially critical for verification in offline transactions.
Payment Systems
The rules in this guide relate to the processing of Transactions and Payment Transactions made with Mastercard-branded cards. Here are the key definitions and where to find the document.
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.
Payment Systems
The Hidden Side of the Payments World. The words a person working in the payment systems industry hears most over a career are probably Visa, Mastercard, POS, debit card, virtual POS, acquiring and card issuing. Frankly, my own career did not unfold very differently from that journey...
Payment Institutions & E-Money
On 7 October 2023, the CBRT amended the Communiqué on Information Systems of Payment and E-Money Institutions and Data Sharing Services of Payment Service Providers, first published on 1 December 2021. Links to the new text, a comparison table and a detailed summary of changes follow.
Credit Card
A single BIN cannot be used to issue both a credit card and a debit card. If a bank offers both products, it has at least two different BINs, allocated and announced separately by card type.
Clearing
Chip Condition Code is a code carried in the F60 (Additional Data) DE14 field during clearing that shows the chip read status. The possible values and their descriptions are listed below.
Merchant & POS
An offline transaction is one in which the card and POS terminal approve the transaction based on their own parameters, without contacting their banks. Whether contact or contactless, the device decides whether the transaction is processed offline.
HCE
There are three types of PIN strategy in HCE (Host Card Emulation): No PIN, Card PIN and Wallet PIN or customer biometric data. Each balances user experience and security differently.
Merchant & POS
In online transactions, Opt Out is the cardholder exercising the right not to enroll in 3D Secure. It is not unlimited: only as many transactions as the issuer allows can be made without 3D Secure.
Fraud
Yes. Cardholders have the right to dispute transactions made with their cards without their knowledge. Here is how the process, known as a chargeback, works.
Merchant & POS
MCC stands for Merchant Category Code: a 4-digit code used to classify merchants by business type. Codes differ slightly between Mastercard, Visa, and BKM.