Issuer action codess are EMV

EMV

EMV stands for Europay, MasterCard and VISA, a global standard for inter-operation of integrated circuit cards and IC card capable point of sale terminals and automated teller machines , for authenticating credit and debit card transactions.It is a joint effort between Europay, MasterCard and...

 data objects. EMV cards store three issuer action codes:

• Denial
• Online
• Default

Each IAC contains a series of bits, set by the card issuer, which correspond to the bits in the Terminal verification results

Terminal verification results

Terminal verification results is an EMV data object. The TVR is a series of bits set by the terminal reading an EMV card, based on logical tests . This data object is used in the terminal's decision whether to accept, decline or go on-line for a payment transaction. The format of the TVR is as...

 (TVR). This data object is used in the terminal's decision whether to accept, decline or go on-line for a payment transaction. IACs are a means for the card issuer to decide under what circumstances a card should be rejected. For example some card issuers may decide that expired cards should be rejected, by setting the appropriate bit in the Denial IAC. Other issuers may want the transaction to proceed on-line so that they can in some cases allow these transactions to be carried out. There are corresponding Terminal action codes

Terminal action codes

Terminal action codes s are EMV data objects. EMV terminals store three terminal action codes:*Denial*Online*DefaultEach TAC contains a series of bits, set by the card issuer, which correspond to the bits in the Terminal verification results . This data object is used in the terminal's decision...

which are logically ORed with the Issuers action code, to give the transaction acquirer a level of control over the transaction outcome.