Eurocommerce Submission to the EU Interchange Fee Regulation Review
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Card Processing Guide Merchant Operating Instructions
Card Processing Guide Merchant Operating Instructions © 2019 GPUK LLP. All Rights Reserved. CONTENTS SECTION PAGE Welcome 1 Global Payments 1 About This Document 1 An Introduction To Card Processing 3 The Anatomy Of A Card Payment 3 Transaction Types 4 Risk Awareness 4 Card Present (CP) Transactions 9 Cardholder Verified By PIN 9 Cardholder Verified By Signature 9 Cardholder Verified By PIN And Signature 9 Contactless Card Payments 10 Checking Cards 10 Examples Of Card Logos 13 Examples Of Cards And Card Features 14 Accepting Cards Using An Electronic Terminal 18 Authorisation 19 ‘Code 10’ Calls 24 Account Verification/Status Checks 25 Recovered Cards 25 Refunds 26 How To Submit Your Electronic Terminal Transactions 28 Using Fallback Paper Vouchers 29 Card Not Present (CNP) Transactions 32 Accepting Mail And Telephone Orders 32 Accepting Internet Orders 33 Authorisation Of CNP Transactions 35 Confirming CNP Orders 37 Delivering Goods 37 Collection Of Goods 38 Special Transaction Types 39 Bureau de Change 39 Dynamic Currency Conversion (DCC) 40 Foreign Currency Transactions 40 Gratuities 41 Hotel And Car Rental Transactions 41 Prepayments/Deposits/Instalments 43 Purchase With Cashback 43 Recurring Transactions 44 Card Processing Guide © 2019 GPUK LLP. All Rights Reserved. SECTION PAGE Global Iris 47 HomeCurrencyPay 49 An Introduction To HomeCurrencyPay 49 Card Present (CP) HomeCurrencyPay Transactions 50 Mail Order And Telephone Order (MOTO) HomeCurrencyPay Transactions 52 Ecommerce HomeCurrencyPay Transactions 55 Mastercard And Visa Regulations -
PISA in Focus Education Policy Education Policy Education Policy Education Policy Education Policy Education26 Policy Education Policy Grade Expectations
PISA IN FOCUS education policy education policy education policy education policy education policy education26 policy education policy Grade expectations • Countries vary in the way they use marks, but they all tend to reward the mastery of skills and attitudes that promote learning. • Teachers tend to give girls and socio-economically advantaged students better school marks, even if they don’t have better performance and attitudes than boys and socio-economically disadvantaged students. • It seems that marks not only measure students’ progress in school, they also indicate the skills, behaviours, habits and attitudes that are valued in school. School marks are more than just a source of anxiety – and pride – among students; they are a way that society communicates its values concerning education and the skills needed to be good learners. Marks serve the primary purpose of promoting student learning by informing students about their progress, alerting teachers about their students’ needs, and certifying the degree to which students have mastered the tasks and competencies valued by teachers and schools. Through school marks, teachers reward Marks can have long-term certain habits, attitudes and behaviours with consequences for a student. the objective of fostering learning. In all countries and economies, teachers reward the mastery of competencies and skills in reading through marks in their language-of-assessment course. Most also reward the skills, attitudes, habits and behaviours that are necessary for lifelong learning, such as reading for enjoyment, using effective learning strategies and positive student-teacher relations. This is both desired and expected; but teachers seem to reward other things as well. -
Inequality, Social Protests and Civil War Oasis, No
Oasis ISSN: 1657-7558 ISSN: 2346-2132 Universidad Externado de Colombia Díaz, Fabio Andrés Inequality, Social Protests and Civil War Oasis, no. 26, 2017, July-December, pp. 25-39 Universidad Externado de Colombia DOI: 10.18601/16577558.n26.03 Available in: http://www.redalyc.org/articulo.oa?id=53163843003 How to cite Complete issue Scientific Information System Redalyc More information about this article Network of Scientific Journals from Latin America and the Caribbean, Spain and Journal's webpage in redalyc.org Portugal Project academic non-profit, developed under the open access initiative Inequality, Social Protests and Civil War Fabio Andrés Díaz* ABSTRACT Key words: Inequality, horizontal inequality, Vertical inequality, protest, civil wars. The following article presents a series of hy- potheses to analyze the possible transitions Inequidad, protestas sociales between protest and civil war and their relation y guerra civil to inequality. To do so, the article presents an analysis on the emergence of protests and its re- RESUMEN lation with the increase in inequality across the world. This increase in inequality can in fact A partir de una serie de hipótesis se estudian lead to social unrest, instability and in some las posibles transiciones entre protestas y cases facilitate the emergence of future armed guerras civiles, y su relación con la existencia conflicts. Thus this scenario of increased in- de inequidades en diferentes constituyentes. equality presents different possible trajectories: Se analiza la emergencia de una nueva ola 1) protest generated by inequality can escalate de protestas, su relación con la existencia de into civil conflicts and civil war, or 2) protest inequidades y su aumento a nivel mundial. -
EMF Implementing EMV at The
Implementing EMV®at the ATM: Requirements and Recommendations for the U.S. ATM Community Version 2.0 Date: June 2015 Implementing EMV at the ATM: Requirements and Recommendations for the U.S. ATM Community About the EMV Migration Forum The EMV Migration Forum is a cross-industry body focused on supporting the EMV implementation steps required for global and regional payment networks, issuers, processors, merchants, and consumers to help ensure a successful introduction of more secure EMV chip technology in the United States. The focus of the Forum is to address topics that require some level of industry cooperation and/or coordination to migrate successfully to EMV technology in the United States. For more information on the EMV Migration Forum, please visit http://www.emv- connection.com/emv-migration-forum/. EMV is a trademark owned by EMVCo LLC. Copyright ©2015 EMV Migration Forum and Smart Card Alliance. All rights reserved. The EMV Migration Forum has used best efforts to ensure, but cannot guarantee, that the information described in this document is accurate as of the publication date. The EMV Migration Forum disclaims all warranties as to the accuracy, completeness or adequacy of information in this document. Comments or recommendations for edits or additions to this document should be submitted to: ATM- [email protected]. __________________________________________________________________________________ Page 2 Implementing EMV at the ATM: Requirements and Recommendations for the U.S. ATM Community TABLE OF CONTENTS -
Reform of Credit Card Schemes in Australia
CHAPTER 5: PROMOTING EFFICIENCY AND COMPETITION 5.1 Introduction The main regulations in the Bankcard, MasterCard and Visa credit card schemes in Australia – dealing with the collective setting of interchange fees, restrictions on merchant pricing and restrictions on entry – have been assessed in previous Chapters on public interest grounds. Each of these regulations represents significant departures from the normal workings of the market. This final Chapter draws the previous analyses together by reviewing the regulations and their consequences against the benchmarks that underpin the public interest test, and summarising the public interest concerns. These concerns provide the background for the use of the Reserve Bank’s payments system powers to promote reform of the designated credit card schemes, in the interests of promoting efficiency and competition in the Australian payments system. The Chapter outlines the reform measures and their likely impact. It then analyses the main objections to reform that have been raised and concludes that they are not a persuasive defence of the status quo. The last section outlines the next steps in the Reserve Bank’s consultation process before its proposed standards and access regime are finalised. 5.2 Scheme regulations and competition benchmarks To meet the broad objectives of public policy, the payments system in Australia would be expected to be responsive to competitive pressures, including freedom of entry into the markets for different payment instruments, provided the safety of the system is not compromised. There is likely to be a role for private-sector regulations to ensure the safety, technical consistency and orderly operation of any payment system, but such regulations should not be so binding or widespread as to compromise the market process. -
Debit Card Interchange
Payments the way we see it Debit Card Interchange The impact of debit interchange regulation and what financial services institutions can do to support a positive outcome Contents 1 Highlights 3 2 Overview of the U.S. Debit Card Interchange Regulation 4 2.1 Durbin Amendment of the Dodd-Frank Act 4 2.2 Interchange Fee in a Debit Card Transaction 5 2.3 Debit Card Usage in the United States 6 2.4 Drivers for U.S. Debit Interchange Regulation 7 2.5 Viewpoints and Estimated Impact for Key Stakeholders 8 3 Debit and Credit Interchange Interventions around the World 9 3.1 Australia 9 3.2 Canada 9 3.3 European Union 10 3.4 New Zealand 10 4 Implications for Stakeholders 11 4.1 Implications for Issuers 12 4.2 Implications for Merchants 12 4.3 Implications for Customers 12 4.4 Implications for Networks 13 4.5 Implications for the Economy 13 5 Recommendations for Financial Services Institutions 14 5.1 Political 14 5.2 Economic 14 5.3 Social 16 5.4 Technological 16 6 Conclusion 18 References 19 2 the way we see it 1 Highlights In 2010, the U.S. Congress passed the Dodd-Frank Wall Street and Consumer Protection Act, a sweeping change to financial regulation in the United States. The Durbin amendment, part of the Dodd-Frank Act, allows the Federal Reserve board to implement a comprehensive system of debit card interchange. The amendment establishes standards for an interchange fee1, and prohibits issuers and networks from restricting the number of networks over which an electronic debit transaction may be processed. -
Mastercard International
CODE OF PRACTICE FOR PAYMENT CARD SCHEME OPERATORS Background The Code of Practice for Payment Card Scheme Operators (“the Code”) has been drawn up and observed by eight payment card scheme operators1 (“scheme operators”) in Hong Kong since 2007. The introduction of the Payment Systems and Stored Value Facilities Ordinance (“the Ordinance”) on 13 November 2015 has necessitated certain modifications of the Code, which are now incorporated in this version. The scheme operators remain committed to observe this updated version of the Code in providing services to the general public. Purpose This Code specifies general principles for the scheme operators to observe in order to promote the general safety and efficiency of payment cards in Hong Kong and to foster public confidence in them. Classification This is a non-statutory Code drawn up by the scheme operators in Hong Kong. New scheme operators entering the Hong Kong market should also adhere to the general principles in this Code. Application To the scheme operators in Hong Kong. This Code applies only to their operations in Hong Kong and is not intended to have extra-territorial effect. 1 “Payment card scheme operators” means, for the purposes of this Code, multi-purpose payment card schemes which provide credit and /or debit function through a payment network for making payment of goods or services. It excludes multi-purpose stored-value cards, which are dealt with separately by the regulatory regime for stored value facilities under the Ordinance. Structure INTRODUCTION 1. Status of the Code 2. Objectives 3. Enquiries SAFETY 4. Legal Basis of the System 5. -
The Future of Banking Is Open
Visa Consulting & Analytics The Future of Banking is Open 1 Visa Consulting & Analytics Open banking What it is, why it matters, and how banks can lead the change If a consumer wants to block out the world around them, a single app gives them access to hundreds of thousands of songs and podcasts; over time, this app learns about their tastes and suggests new tunes for their listening pleasure. As technology evolves and artificial intelligence becomes more pervasive, consumers are beginning to ask why managing money cannot be as intuitive as managing music? Data is a key ingredient in offering personalized financial services, but it has been traditionally hard for consumers to share sensitive information with third parties, in a secure and consistent way. In response, financial innovation globally by both traditional and emerging players has taken place. This has led to an increase in financial innovation globally that is driven partly by the market and partly by regulation. As the world responds to the COVID-19 pandemic, one of the clear outcomes is accelerated digital engagement, something that can only be done quickly and at scale through an open ecosystem and the unbundling of financial services. In this paper, we look at what open banking is, the way some of the world’s most forward-thinking banks are responding, and how Visa Consulting & Analytics can help in transforming your business. 2 Contents What is open banking, and why does it matter? What is driving open banking? What are the consumer considerations? What are the commercial implications for ecosystem players? How are banks responding? Five strategies to consider How can Visa help you take the next step on your open banking journey? 3 What is open banking, and why does it matter? Broadly put, the term open banking refers to the use of APIs (Application Programming Interfaces) to share consumers’ financial data (with their consent) to trusted third-parties that, in turn, create and distribute novel financial products and services. -
Rupay: the Emergence of an Indian Card Giant (A Marketing Perspective)
International Journal of Scientific and Research Publications, Volume 9, Issue 2, February 2019 525 ISSN 2250-3153 RuPay: The Emergence of an Indian Card Giant (A Marketing Perspective) Siddharth, Vijayraj, Subham Dash, Varun Chadha, Varun D. Nankani Christ (Deemed to be University) - Bannerghatta Campus Bangalore, India 2019 DOI: 10.29322/IJSRP.9.02.2019.p8667 http://dx.doi.org/10.29322/IJSRP.9.02.2019.p8667 Abstract- There have been turbulent changes in the banking sector gain an international scheme. As of July 2018, these cards were of the world which lead to capitalisation of various untapped issued to savings and current bank account holders across 1100 opportunities. One such opportunity was interbank transfers using banks including cooperative banks and Regional Rural banks. It ATM cards. VISA and MasterCard were the ones that decided to has 65% of the Indian market share and is accepted at all the capitalise on this opportunity and became the biggest payment ATMs, e-commerce portals and Pos terminals. networks of the world. RuPay is India’s very own card scheme to promote debit and It has various advantages leading to its mass acceptability. credit card transactions, which was launched in 2012, by National • The occurrence and settlement of transactions happen Payment Corporation of India (NPCI). The cost of the transaction domestically, the cost is lower and thus is affordable. in India was high in spite of the fact that in India 90% of the credit • As it is domestic in nature, it is aiming at customized transactions and almost all debit transactions are domestic. -
Simplifying EMV Migration Strategic
A WHITE PAPER TO SIMPLIFY EMV MIGRATION: STRATEGIC CHOICES FOR EMV CARD ISSUERS Barnes International Ltd Cedar Court, 5 College Street, Petersfield, Hampshire, GU31 4AE, UK Tel: +44 (0)1730 231313 Fax: +44 (0)1730 265353 Email: [email protected] Web: www.barnestest.com CARD FUNCTIONALITY & USAGE For the EMV cards themselves the following choices are needed. • Should the card support contactless as well as contact EMV transactions? Contactless capability adds complexity and cost, but it also adds convenience. It enables the card to be used more widely and makes it more attractive to cardholders. • Should the card only support online transactions? Again additional complexity and cost of offline transactions need to be balanced against wider acceptance for low-value, mass transit and international transactions. Most EMV products support both online and offline transactions, so the issuer’s choice relates to the customization of issuer software products for cards and host systems. • Which cardholder verification methods should be supported & with what priority? ATMs and many debit cards support only online PIN verification. Credit cards must support signature verification. For many low-value unattended terminals, no cardholder verification is needed. In terms of the range of verification method the question may boil down to the EMV-specific option of offline PAPER OVERVIEW PIN verification. EMV cards and terminal will support it, and for international transactions it is probably The decision has been made to migrate the payment needed. However for at least the initial period of EMV card base and supporting systems to EMV. The card migration in the US, it may not be a requirement. -
Deal Or No Deal: Do Eu Challenger Banks Have a Future in the Uk (And How to Best Prepare for It)?
DEAL OR NO DEAL: DO EU CHALLENGER BANKS HAVE A FUTURE IN THE UK (AND HOW TO BEST PREPARE FOR IT)? By Dora Knezevic In October 2018, N26, a European, digital-only, challenger bank or briefly, neobank, launched in the United Kingdom. With up to one in four British millennials banking with a challenger bank and the market attractive to other digital-only challengers, the Berlin-based neobank’s UK expansion was hardly surprising.1 N26 had already successfully launched across Europe and embarked on an ambitious marketing campaign in the UK, positive about achieving similar success in this new market. A mere year-and-a-half later however, the neobank announced it will be leaving the UK and closing all UK accounts, citing overwhelming uncertainty about the future of its banking license in the UK following the end of the Brexit transition period. Although uncertainty surrounding the Brexit deal outcome is undeniable, Brexit itself was a certainty already when N26 entered the market in 2018. In the year-and-a-half the neobank spent in the UK market however, they did not action a particular contingency plan for addressing it. In fact, behind the scenes, N26 was already dealing with several other challenges, including compliance, a failure to differentiate from competitors and to capture a sufficient customer base. The challenges faced by N26 in the UK are not exclusive to N26 – they are general challenges any European neobank will likely encounter as they enter UK and should consider during the planning of their potential UK expansion. This article will further elaborate on these challenges, beginning with Brexit and subsequently the additional market challenges, overlooked by N26, relating to UK expansion with the goal of providing actionable insight for any European neobank considering entering the attractive UK market. -
Why the Payment Landscape Is Undergoing Fundamental Change E-BOOK MOBILE PAYMENTS
E-BOOK mobile payments Why the payment landscape is undergoing fundamental change E-BOOK MOBILE PAYMENTS Within the context of digitalization and the technological change, and the entry of the heavyweights into the mobile payment market, the development of pay- ments via smart phone is gaining momentum. Take the CHANCE! 2 E-BOOK MOBILE PAYMENTS Cash was yesterday! The mobile payment systems of Amazon, Apple, Google and many other providers promise consider- able simplification of the payment process. It is therefore clear the mobile payment will gain market shares and the physical wallet will see a slow decline. Jan Florian Richard from Arvato Financial Solutions explains the perspectives of mobile payment and introduces the most important players. 3 E-BOOK MOBILE PAYMENTS “There are still concerning’s with mobile payment“ Where there were previously some big question marks, it is now slowly becoming clear: Mobile payment in places like super- markets is permanently increasing. The relevant studies may be contradicting each other to some extent, but there is a clear trend towards the increasing acceptance of mobile payment. The user figures are nevertheless coming from a low level and security concerns above all as well as a lack of awareness are keeping the majority of consumers from using mobile payment. In Germany especially, we have the traditional great affinity with cash, and many people seem to still be unaware of the topic. So at the end of 2018, the EHI Retail Institute published a survey, which showed that 60 percent of respondents had even heard of mobile payment. And even this group is dominated by the doubters, whereby almost two thirds consider the process to be intransparent and insecure.