The Termination Tracking System (FTS) is a system that allows banks, when entering into merchant agreements, to check whether the applicant company and its company representative have any negative history with any bank, and to view the details of any such negative record.
FTS is a service provided by BKM. When banks use this service, queries can be made based on:
- the company's VKN/TCKN (if it is a sole proprietorship), and
- the company representative's TCKN.
When merchants request a POS device from banks, the banks check whether the merchant is on the termination list and assess whether it is viable to work with them. If the merchant is on the termination list, banks either do not sign a contract with that merchant, or they examine the merchant's current situation in more detail to determine whether it is viable to work with them.
Can a POS device be issued to a merchant that is on the termination list?
This depends on the date the merchant was added to the termination list, the reason for being added, and the result of the bank's current evaluation of the merchant. If the bank concludes that it is viable to work with the merchant despite its presence on the termination list, a POS device can still be issued to that merchant.
Is a termination check performed for foreign customers?
There is currently no check based on the YKN (Foreign Identification Number).
Under what circumstances is a merchant agreement terminated?
You can read our article on this topic at the link below.
