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Say goodbye to your wallet – Visa wants to turn all your devices into payment ... - Computer Business Review

Say goodbye to your wallet – Visa wants to turn all your devices into payment ... - Computer Business Review | Software Testing | Scoop.it
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Who pays off credit card debt after a death? - - MSN Money

Who pays off credit card debt after a death? - - MSN Money | Software Testing | Scoop.it
When a family member dies, unpaid credit card bills are just about the last thing on your mind. Are you legally on the hook? - MSN Money credit-cards tips and articles.
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How 30million 'wi-fi' credit cards can be plundered by cyber identity thieves exploiting contactless payment technology

How 30million 'wi-fi' credit cards can be plundered by cyber identity thieves exploiting contactless payment technology | Software Testing | Scoop.it
Millions of debit and credit card holders are at risk of having their personal data mined by thieves exploiting a loophole in the ‘contactless’ payment technology.
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Contactless 'charging errors' at M&S

Contactless 'charging errors' at M&S | Software Testing | Scoop.it
Some Marks and Spencer customers say its contactless payment terminals have taken cash from cards other than the ones intended for payment. (NFC bank cards do not work at a 1 foot distance.
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Understanding ISO 8583

ISO 8583 is a message format or standard for exchanging and processing of Electronic Financial and Non Financial Transactions using payment cards. It states the structure and specification for the exchange of messages across different payment platforms ensuring ease of integration of these systems and entities within a full transaction life-cycle.

 

ISO 8583 defines the messaging for various financial transaction types such as withdrawals, purchases, electronic funds transfers, account balances as well as non-financial messages including key exchange, echo requests and responces, sign-on and sign-off messages, pin change and other interface integration communication and network management messages.

 

The are three versions of ISO 8583 which are ISO8583:1987, ISO8583:1993 and latest version ISO 8583-1:2003 and as defined by the International Organisation of Standardization, ISO 8583-1:2003 specifies a common interface by which financial transaction card originated messages may be interchanged between acquirers and card issuers. It states the message structure, format and content, data elements and values for data elements. 

 

Next we will look at the structure of ISO 8583.

 

 

 

 

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MasterCard Promotes Financial Inclusion With Electronic Payments - Forbes

MasterCard Promotes Financial Inclusion With Electronic Payments - Forbes | Software Testing | Scoop.it
MasterCard Promotes Financial Inclusion With Electronic Payments Forbes While payment cards are often promoted as premium status-driven consumer products in the United States and Europe, in developing countries debit cards are proving valuable for...
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Pay With Your Face: Facial Recognition Payment System Replaces Credit Cards ~ Information Oomph

Pay With Your Face: Facial Recognition Payment System Replaces Credit Cards ~ Information Oomph | Software Testing | Scoop.it
"PAY WITH YOUR FACE : facial recognition payment system replaces credit cards" http://t.co/LlltU3GySJ
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Paragon Application Systems - Developing a Test Plan for ISO 8583 Financial Messages

Paragon Application Systems - Developing a Test Plan for ISO 8583 Financial Messages | Software Testing | Scoop.it
Many financial institutions, processors, and interchanges use ISO 8583 based message formats.
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Nigeria announces national ID cards with electronic payment capability built in

Nigeria announces national ID cards with electronic payment capability built in | Software Testing | Scoop.it
Last week at the World Economic Forum on Africa held in Cape Town, South Africa the Nigerian National Identity Management Commission (NIMC) and MasterCard announced their collaboration ...
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