What is a payment license
The Third Party Payment License, also known as the “Payment Business Licenseâ€, was launched in June 2010 to strengthen the supervision of non-financial institutions engaged in payment services. Instructing non-financial institutions to provide payment services in accordance with the regulations requires that they obtain a "Payment Business License" before becoming a payment institution. As a result, the legendary third-party payment license was born.
Business scope of payment business license
You can think of payment service licenses as business licenses. They all have business scope. If they exceed the business scope, they are illegal and are not allowed. So look at the following types of business.
1: Internet payment, as the name suggests
2: bank card receipt (with distinction below) all do pos, hand brush essential
3: Pre-paid card issuance acceptance, pre-paid card acceptance
4: Mobile phone payment
5: Digital TV payment
6: Fixed telephone payment
Therefore, having a “Payment License†does not mean that the company can do it. His business scope is limited. A total of 267 companies in the country have payment service licenses, but there are banks in the business scope of the licenses. There are only 62 card authorization rights, including 43 national license plates and 19 regional license plates.
What is a quota?
POS machine quotas are often different from those for private account settlement, such as single transaction limit, or single card transaction quota, or daily credit limit, etc., according to different risk control policies of the acquirer to make different limits to reduce illegal transactions. risk.
What is a code jump?
The so-called jump code generally refers to the business owner is clearly applying for the livelihood industry rate, but the actual consumer statement is wholesale or other industries with lower rates, the acquirer to obtain a higher commission differential profit. Some merchants are often puzzled as to why the previous consumption of points has no points or sometimes there are points sometimes. This is due to the fact that the acquirer uses the system to discriminate the transaction amount and converts the profitable transaction to the lower cap rate channel. .
What is it: Do local businesses land?
The so-called landing merchants refer to individuals who apply for POS machines or swipe card readers to swipe their own credit cards. If the issuing bank sees that the card is always consumed by the same merchant at the same time, it is considered to be cashed or risky transactions, in order to avoid In this case, when the acquirer is in the system setting, each merchant transaction can automatically jump to display different merchant names, and the merchant's address is local. If you do not fall to the ground and casually jump over businesses across the country, spending in different places within a short period of time is obviously an abnormal consumption and will affect the use of credit cards.
Can the merchant's name be taken casually?
It is not free to proceed, and according to the requirements of the transaction message stipulated by UnionPay (Guide for the Chinese name of the merchant name), the name of the merchant is composed of the administrative division, font size, industry, and organizational form.
What is a machine one yard?
The machines that are officially handled are one machine and one code. According to the merchant's five card information, the merchant's MCC code authorized by UnionPay and can be checked is bound to a machine to protect the funds of the merchants.
Why POS machines do not have inquiry balance function
Some acquirers close the bank card balance inquiry function in order to prevent malicious test of bank card password behavior.
What is a cutting machine?
Replace the POS machine's original bank card acquiring party with the new bank card acquiring party.
What brought the machine into the network?
The source of the POS terminal usually has two places, either a custom machine provided by the payment company, already installed in the POS machine belongs to the brand POS machine program, or a bare metal machine sold by the POS terminal manufacturers, from the downstream channels The negotiated price is purchased, and the POS machine program provided by the payment company belongs to this model is installed, and it is necessary to enter the device numbers of these bare metal devices carried by the payment company into the payment company's system database. Many payment companies support their own agent channels to bring in the network. In fact, according to the CUP regulations, this type of behavior is likely to cause hidden security risks.
What is the bottom secret, what is decryption?
The full name of the POS machine is the underlying key, which generally has a bottom-level key for a third-party payment company to order at the terminal manufacturer. It is used to protect the POS machine program and data transmission security. Decryption, as the name implies, removes the program to facilitate the writing of new programs. In most cases, the POS with the underlying key needs to replace the stored program chip before cutting it.
What is non-connected?
In general, the POS machine has a non-connected function, which means that a bank card with a chip can be used on a POS with a non-contact reading function. This kind of function involves the production cost, so it is generally the non-standard module of the traditional POS machine.
What is an electronic signature?
The electronic ticket generated automatically by the POS terminal according to the consumer order and provides the signature function.
What is the SN number, device number, serial number?
The POS machine manufacturer's product serial number for each terminal is generally called the SN number, which is usually printed on the back of the POS machine. The purchaser must enter the SN number in the system so that the POS machine can connect with the system back-end data.
What is T+1/T+0/, D+1/D+0?
T+1 arrives for the second business day;
T+0 is the day of arrival on the working day;
D+1 arrives for the next day (including rest days, holidays);
D+0 is the account of the whole year (including holidays and holidays).
What is a withdrawal fee?
Generally refers to the receipt of the party to provide timely services on the same day, consumers in the merchant POS machine transactions in the normal situation is the next day to account, that is T+1 account. The merchant needs timely arrival service on the same day, that is, T+0 or D+0 arrival service, that is, it needs to apply for cash withdrawal because the cash withdrawal is for other parties, so a certain percentage of the withdrawal fee is required.
What is a foreign currency machine?
The POS machines that can support the Visa master are generally used for bar catering, star hotels, foreign trade companies that often go out to participate in exhibitions, and industrial companies. As far as the POS industry is concerned, there are only two situations in which foreign currency POS machines are generally asked. One is to cash out, and the basic one is a foreign-used pseudo-card copying card, and one is raising a card. Currently, there are applications on the market that use foreign accounts. Payment software + swipe card, and then use the software to locate the mobile phone abroad, to simulate the situation of foreign transactions, consume a few dollars, do not arrive, but some credit card issuers will temporarily increase their credit card transactions for foreign credit cards The quota, so that some people use this point to raise the card business to earn high fees, but the credit card has the risk of being blocked.
What magnetic stripe card or chip card?
There are generally two types of bank cards: debit cards and credit cards. A debit card generally refers to a savings card. A credit card generally refers to a credit card. Bank cards generally store three types of data information. A single magnetic stripe is used. Card, the other is the magnetic stripe + chip bank card. Bank cards issued after 2015 are basically single chip cards. After the 10th of 2014, the People's Bank of China deployed and implemented a nationwide POS machine to close the deregulation transaction of chip bank cards. At the same time, a banknote with a magnetic stripe + chip will only be able to insert a chip and can no longer apply a magnetic stripe, and the chip card payment will bid farewell to the credit card. Card era.
What is CVV2 code?
CVV2 code, also known as credit card security code, is a security code for credit card transactions. It is usually the last 3 digits of italics printed after the signature on the back of the bank card. The CVV2 code is used to verify that the payer actually owns the credit card at the time of the transaction, thereby preventing credit card fraud. The importance is equal to the second password of the bank card.
What is a "downgrade transaction"?
The downgrade transaction means that if the bank card chip data cannot be read, the magnetic stripe is downgraded, but now the bank gradually closes the downgrade transaction. When the POS is operated, plugging and swiping sometimes causes the POS to prompt the user to decline the downgrade transaction. .
What is the Link Bank number?
The bank number is the unique identifier of a regional bank. For large-sum payment systems organized by the People's Bank of China, small-sum payment systems, city commercial banks, bank draft systems, national cheque imaging systems (including some cities' automatic ticket clearance systems for cities), and other cross-regional payment and settlement services. It consists of 12 digits: 3 bank codes + 4 city codes + 4 bank numbers + 1 check digit.
Our Mesh Cosmetic Bag are designed and developed by ourselves. We can design the appearance, material and function of the products according to customers' requirements.
Jilin Y.F. Imp & Exp Co., Ltd is an exporter and manufacturer (Cang nan Y.F. Stationery & Gift Co., Ltd.)in Creative products, such as Backpack ,Shoulder Bag, Pencil Case , Handbag,Multifunctional Bag. Coin Purse .Cosmetic bag.Storage bags. File Holder.Canvas handbag and Notebook etc. which is a professional stationery company setting research and development, producing, sales and trade into one. Our company always takes quality, service, efficiency and innovation as our management philosophy. Since our brand Y.F. has been put on the market, the products sell well throughout the country consistently, and be exported to Europe and America,, and South America countries as well as regions, where the product enjoys great customer loyalty and good population. Choose Y.F. is not to choose a batch of stationery, but to choose a commitment and responsibility, Thanks for your attention, support, trust an cooperation. Wish to establish long-term business relationship with you in the near future.
Mesh Cosmetic Bag,Mesh Makeup Bag,Mesh Cosmetic Pouch,Mesh Zipper Cosmetic Bags
Jilin Y.F. Import & Export Co.,Ltd , https://www.jlpencilcase.com