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APRP Industry Standards Flashcards

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Read the first 7 APRP Industry Standards flashcards as text

  1. Which organization publishes the Operating Rules that govern ACH Network transactions in the United States?

    Answer: NACHA – The Electronic Payments Association

    NACHA develops, administers, and enforces the Operating Rules governing ACH Network participants, including ODFIs, RDFIs, Originators, and Third-Party Senders.

  2. Under PCI DSS v4.0, which new requirement mandates that all payment page scripts loaded and executed in the consumer's browser must be managed and authorized?

    Answer: Requirement 6.4.3

    PCI DSS v4.0 Requirement 6.4.3 specifically requires that all payment page scripts be inventoried, justified, and integrity-protected to combat e-skimming attacks.

  3. The Real-Time Payments (RTP) network operated by The Clearing House uses which credit-push model characteristic?

    Answer: Payments are irrevocable once the receiver's bank confirms receipt

    RTP payments are credit pushes and irrevocable upon confirmation of receipt by the receiving financial institution, meaning payers must ensure accuracy before sending.

  4. Which international standard specifies the format and content of payment card numbers (PANs), including the structure of the Issuer Identification Number (IIN)?

    Answer: ISO 7812

    ISO 7812 defines the numbering system for identification cards, including the structure of the IIN (formerly BIN) that identifies the card issuer.

  5. Under the EU's Payment Services Directive 2 (PSD2), Strong Customer Authentication (SCA) requires a combination of at least two of which three factors?

    Answer: Knowledge, Possession, and Inherence

    PSD2 SCA requires authentication using at least two of three independent factors: something you know (Knowledge), something you have (Possession), and something you are (Inherence).

  6. In the context of card network rules, what does 'interchange reimbursement fee' represent?

    Answer: A fee paid by the acquirer/merchant to the issuer for facilitating a card transaction

    Interchange is a fee paid by the acquirer (on behalf of the merchant) to the issuing bank as compensation for the payment guarantee and funding costs inherent in card transactions.

  7. The Mastercard Excessive Fraud Merchant (EFM) program monitors merchants based on which metric combination?

    Answer: Fraud-to-sales ratio and total fraud transactions exceeding thresholds

    The EFM program uses a combination of the merchant's fraud-to-sales ratio and the total count of fraudulent transactions against defined monthly thresholds to identify high-risk merchants.