Below are the definitions of the following terms, which are the cornerstones of payment systems, as established by the Banks Association of Turkey (TBB):
Debit card: A card that enables customers to benefit from banking services, including the use of a deposit account or a special current account.
Credit card: A printed card, or a card number with no physical form, that provides the ability to purchase goods and services or withdraw cash without using cash.
Card scheme operator: An entity that establishes a debit card or credit card system and, under that system, grants the authority to issue cards or to enter into merchant agreements.
Card issuer: Banks and other entities authorized to issue debit cards or credit cards.
Merchant acquiring entity: Banks or entities that enter into agreements with businesses in order to enable the acceptance of debit cards or credit cards.
Merchant: A natural or legal person who, under an agreement made with a merchant acquiring entity, agrees to sell goods and services or provide cash to the cardholder.
Cardholder: A natural or legal person who makes use of debit card or credit card services.
Sales Slip: A document issued by the merchant in connection with transactions made with a debit card or credit card, showing the debt arising from the transaction and other information about the cardholder, and which is signed by the cardholder except in cases where the cardholder's identity is established by a code number, password or another identifying method.
Cash Payment Slip: A document issued by banks or authorized merchants for cash payments made to debit card or credit card holders, and signed by the cardholder except in cases where the cardholder's identity is established by a code number, password or another identifying method.
Payment Due Date: The last day on which the cardholder can pay the period's debt, or the minimum amount payable, without falling into arrears.
Period Debt: The sum of the balance of debit and credit entries accrued up to the statement date and the balance of the previous statement.
Minimum Amount: The minimum amount of the period debt that must be paid.
Credit Slip: A document issued by the merchant to be credited to the cardholder's account in the event that goods purchased using a debit card or credit card are returned, the purchase of a service is cancelled, or the transaction is voided.
