Author
Payment systems expert and technology executive
Arif Ünal is a technology executive with more than 20 years of experience in banking, fintech and payment systems. He writes about card payments (issuing and acquiring), POS, ATM, e-money, FAST and Turkish payments regulation (BRSA and CBRT). He has held senior roles at Finagotech and managed payment systems and digital banking teams at Emlak Katılım, Vakıf Katılım and Türkiye Finans. He holds a B.Sc. in Industrial Engineering from Istanbul University and an M.Sc. in Management Information Systems from Marmara University.
976 articles
Open Banking
API, used as an abbreviation for Application Programming Interface, is an interface that allows an application's functions to be accessed and used from outside or remotely, letting a server application be reached from different platforms.
Open Banking
The Global Fintech Hubs Federation is a global federation bringing together more than 20 FinTech organizations worldwide, including FinTech Istanbul. Its duties include fostering unity for the ecosystem and sharing knowledge and experience.
Open Banking
First, it is useful to briefly recall the concepts of Banking as a Service and Open Banking. Banking as a Service (BaaS) lets interface developers connect directly to service banks' systems via APIs and open banking services to run banking transactions for customers...
Open Banking
Under the communiqué, service model banking does not require a separate BRSA license, but the service bank must notify the BRSA in writing before signing a contract with an interface developer.
Open Banking
No. Under the BRSA communiqué on service model banking, service banks can provide service model banking only to interface developers resident in Türkiye.
Open Banking
Digital banking is talked about more every day, and with the BRSA's support in defining its scope, it is about to enter our lives. A 'digital bank' is a credit institution that provides banking services mainly through electronic channels rather than physical branches.
Payment Institutions & E-Money
5 August 2021 was a very important day for Turkish payment systems. The CBRT's amendment to the Communiqué on the International Bank Account Number (IBAN) allows payment institutions and e-money institutions to create IBANs as well. This is...
FAST
The FAST limit, which was decided on 4 August 2021 to be raised to 2,000 TL, has been raised to 2,000 TL as of today. Instant payment volumes are expected to grow further as EFT volumes decline.
Laws & Regulations
No. There is an exemption for technical service providers that offer IT support for the provision of payment services. However, they have responsibilities under the Communiqué on outsourcing and information security.
Payment Institutions & E-Money
According to the Guide, where payment transactions arise only in connection with the main activity of providing investment services, the investment firm's services cannot be considered payment services.
Laws & Regulations
Under the Directive, it is clear that some e-commerce platforms should be within scope. Whether a platform counts as a payment institution depends on its business model.
Laws & Regulations
Under the Directive, payments made through telecom operators cover the purchase of digital services such as music, digital newspapers, e-tickets or charity donations, within certain amount thresholds.