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Payment Systems
Under the regulation published on 25 September 2020 in Official Gazette No. 31255, institutions that sign merchant agreements must now be able to track transactions at the sub-merchant level.
Merchant & POS
It is not possible to initiate an EMV transaction directly with credit card Track Data (magnetic stripe data), because EMV transactions use a different technology and security mechanism. Why can't an EMV transaction be initiated with Track Data?
ISO 8583
F37-RETRIEVAL REFERENCE NUMBER is a code generated by the bank that initiates a transaction, used to uniquely track it. It is a 12-character alphanumeric value.
Credit Card
CVV (CVC) and CVV2 (CVC2) are two terms that cardholders often confuse. Both are used for verification in card transactions, but there are notable differences between them, such as where each is printed and which transactions use it.
Fraud
In payment systems, fraud means using someone else's credit or debit card to carry out a transaction at a merchant or ATM, gaining unfair profit and causing loss to the real cardholder, the merchant, or the bank. Fraudsters…
Payment Systems
Regularly reporting and tracking how many transactions fail at each merchant matters for both the merchant and the acquirer. BKM error codes tell us why POS transactions fail.
Payment Systems
The virtual POS merchant panel is where merchants manage documents, reports, notifications, transaction tracking, end-of-day, transactions and user permissions for their virtual POS.
Payment Systems
Every payment transaction completes in seconds, yet dozens of controls run behind the scenes. This post covers the precautions for authorization and clearing, the critical role of reversals, and the financial loss scenarios most often seen in the field.
Payment Systems
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.
Online & Authorization
The Application Transaction Counter is the number of transactions made with the card so far. It increases by 1 with each transaction and can also be used as a transaction number, making transactions easier to track.
Fraud
Fraud management is used to detect possible fraud on customer accounts and provides additional security for transactions when necessary, making it one of the top priorities for banks.
Merchant & POS
The batch number is kept on the POS, incremented by 1 at each end of day, used to transfer transactions to the merchant account and for reconciliation. It's tracked on both the POS and the bank's system.