A TR Karekod transaction refers to a payment transaction carried out using a QR code generated in accordance with the procedures and principles set out in the Regulation on the Generation and Use of the TR Karekod in Payment Services.
Recently, there has been a considerable increase in the trend of QR code payments, especially due to the effect of the pandemic and customers' desire for fast payment acceptance. We can easily say that, with the TR Karekod standard now having been established, QR code transactions will increase even further in the periods ahead.
The details of the Regulation on the Generation and Use of the TR Karekod in Payment Services can be accessed via the link below.
https://www.resmigazete.gov.tr/eskiler/2020/08/20200821-4.htm
The Steps of a TR Karekod Transaction
The user scans the code with their mobile application. The application reads the merchant and amount information in the code and displays it to the user. When the user gives approval, payment is initiated using the selected method, such as a card or FAST.
In a dynamic Karekod, the amount and reference are generated separately for each transaction; this reduces the risk of an incorrect amount or a matching error. In a static code, the amount is requested from the user instead.
The merchant side sees the result of the payment instantly via the application or a notification. Throughout this flow, fast approval and error handling determine the user experience.
