When payment systems are mentioned, transactions made with cards at POS terminals or ATMs usually come to mind.
Let's take a look together at the payment systems recognized by the Central Bank.
Payment and Securities Settlement Systems Operated by the Central Bank
- Electronic Funds Transfer System (EFT)
- Interbank TL Transfer System
- Customer TL Transfer System
- Electronic Securities Transfer System (EMKT)
Payment and Securities Settlement Systems Licensed by the Central Bank
- Interbank Card Center (BKM) – Domestic Clearing and Settlement System
- Istanbul Settlement and Custody Bank (TAKASBANK)
- Equity Market Clearing System
- Debt Securities Market Clearing System
- Takasbank Cheque Clearing System
- Central Securities Depository (MKK) – Central Dematerialized System
- Garanti Ödeme Sistemleri A.Ş. (GÖSAŞ) – Takasnet System
- Paycore Ödeme Hizmetleri Takas ve Mutabakat Sistemleri A.Ş. (Paycore) – Paycore Clearing System
How the systems relate to each other
EFT and FAST are used for interbank wire transfers and money transfers, while BKM's domestic clearing system is used for card transactions. EMKT enables securities transfers.
Each system has a different purpose, operating hours and participant rules. A bank needs to be integrated with all of these systems.
Fintechs and payment institutions also offer their services by connecting to these systems.
