Advanced Cards & Payments Concepts Quiz

The Payment networks that carry billions of transactions between merchants, processors and banks are truly modern marvels. In just a matter of seconds, your payment passes information to a processor, to the card network and finally, the issuing bank for approval. Knowing the lay of the land will help you better identify where to improve your business.Find out how much you really know with our advanced brain teaser (Hint: you really need to know your stuff here)

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1. What purpose do “Network management” messages serve


2. In a typical ‘ATM’ day which of the following message exchanges would one expect to see? (Select all that apply)


3. What does the X800/X801 ISO 8583 message set Indicate?


4. How is the “Balance enquiry” message related to the “Payment advice” message, during a typical Card transaction exchange?


5. The first (leading) digit of the IIN, sometimes referred to as the “bank identification number (BIN), is known as the  ___________ of the card issuer.


6. When does an X220/X221 ISO 8583 message set Indicate?


7. What is PAN Truncation?


8. The PCI DSS standard dictates that only the ___________ digits of the PAN may be printed on a receipt


9. The final digit in the IIN (issuer identification number), is a check digit of the IIN calculated using the ___________


10. When does an X400/X401 ISO 8583 message set Indicate?


11. When swiping a card on POS (Point-of-Sale) terminal, which magnetic track(s) is/are read?


12. What is an “APDU” on a payment acceptance device, like a POS or ATM, and what does it do?


13. What is the purpose of the field DE52 (PIN block) code?


14. The PAN (Primary Account Number) is composed of a number identifying the cardholder and the card issuer and comprises ____________


15. What does the X600/X601ISO 8583 message set Indicate?


16. What purpose does the sending of a bitmap serve in a ISO8583 message?


17. What type of information does the field DE55 indicate?


18. What is a PAN number and what purpose does it serve?


19. What does an ISO Standard X100/X101 message set indicate?


20. Which of the following are PAN Entry modes?


21. When does an X200/X201 message set and response indicate


22. If the field DE4 (Amount) is set to ‘000000001234’, and field DE49 (Currency code) is set to ‘840’. Which of the following statements is Correct?


23. When does an X300/X301ISO 8583 message set Indicate?


24. When does an X420/X421ISO 8583 message set Indicate?


25. Which EMV card field contains the PAN (Primary Account Number)?


26. Which of the following message sets would one usually expect to see in the course of a Phone Recharge Transaction?


27. What response code would you expect to see in response to a DE39 code, that indicates ‘Issuer or switch inoperative’?


28. What is the ‘Original Data Elements’ field (ISO-defined data element #90) used for, when tracking Financial Transactions?


29. Which type of Messages are contained in field DE2 (PAN)?


30. What information is contained in Field 49 (ISO 4217)


31. When does an X200/X401 ISO 8583 message set Indicate?


32. What is an open API and what purpose does it serve?


33. What Information does the X500/X501 ISO 8583 message set contain?


34. Which services are provided by a payment switch


35. What does the acronym STAN represent, when referring to payments?



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