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Md Delwar Hossain
Apr 05, 2022
In General Discussions
Editor's introduction: In this article, the author introduces us to the daily work terms related to bank card acquiring, as well as the industry knowledge of bank card acquiring. If you are interested, let's take a look and hope it will help you. 1. Daily work language 1. Limit The limit is divided into a single limit and a single day limit. The single limit is special database the maximum amount that can be swiped in a single transaction, and the single-day limit is the accumulated amount that can be swiped on the day. The limit is formulated by each payment company according to the risk control policy, and there is no unified standard. 2. Amount increase Corresponding to the limit, raising the limit means increasing the single or single-day cumulative credit card limit. The method of raising the limit is generally by binding a bank card and performing four-factor special database authentication. The limit after the limit is also set by each payment institution. Uniform standards. 3. Merchant incoming That is, the merchants report. If the merchants want to use the POS terminal of a certain payment institution to collect money offline, they need to send the merchant, legal person and other information to the payment institution. The payment institution will verify the authenticity of the merchant information and report it to UnionPay. The channel of the payment institution conducts offline collection. 4. Mcc When the merchant reports to the payment institution, according to special database the type and business scope of the merchant, the payment institution assigns the corresponding mcc code to the merchant, and the collection rate is different for different mcc collections. mcc is roughly divided into three categories: standard category, exemption category/preferential category, and public welfare category.
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Md Delwar Hossain
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