The Secure Mobile Payment System is a system permitted by the Ministry, carried out in accordance with the procedures and principles of the Communiqué published by the Revenue Administration (GIB), and operated by financial institutions or payment recorder device manufacturers together with private integrator institutions, for the processes of sales, payment and collection transactions and the creation, transmission, retention and presentation of the financial documents related to these transactions as electronic documents.
What Is the Purpose of the Secure Mobile Payment System?
For businesses of every size that move their financial transactions to the electronic environment, the Secure Mobile Payment System aims to:
- Eliminate costs such as POS devices, cash registers, bank agreements and stationery expenses
- Ensure that the sales collection and the sales document are linked to each other exactly.
What Is the Scope of the Tax Procedure Law General Communiqué on the Secure Mobile Payment and Electronic Document Management System?
GIB published the Tax Procedure Law General Communiqué No. 507 on the Secure Mobile Payment and Electronic Document Management System in the Official Gazette dated 1 June 2019 (1/6/2019).
The Communiqué sets out the procedures and principles that taxpayers must follow for the sales, collection and electronic document applications relating to the collection of the amounts of goods and services sales made by taxpayers within the Secure Mobile Payment System and the Electronic Document Management System, and the creation of financial documents in the electronic environment, by the institutions and organizations authorized by the Ministry of Treasury and Finance.
With the Secure Payment System, mobile devices will now replace the cash register.
Procedures and Principles for Issuing Electronic Documents Through the Secure Mobile Payment and Electronic Document Management System:
Payment acceptance instruments must be secured by the financial institution or the payment recorder device manufacturer, and these parties must have accepted responsibility for the correct execution of the transactions related to the sales-collection-document creation processes within the scope of this Communiqué. Payment acceptance instruments must be capable of providing the mandatory information that must appear in the documents during the creation of the electronic documents specified in this Communiqué.
- Payment acceptance instruments may only be provided by the financial institutions or payment recorder device manufacturers defined in this Communiqué to taxpayers who wish to benefit from the system specified in this Communiqué.
- The payment transactions relating to goods and services sales made using payment acceptance instruments must be converted instantly, through private integrator institutions, into the electronic documents prescribed in the legislation, in a form appropriate to the taxpayer type of the taxpayer who will issue the document, and the issued document must be delivered to the recipient electronically (email, SMS, banking applications, etc.) and/or on paper.
- Financial institutions that wish to serve taxpayers within the scope of the application must make the necessary technical, software and infrastructure preparations together with the private integrator with which they will cooperate on issuing e-documents, and payment recorder device manufacturers must do so together with the bank, e-money institution or payment institution and the private integrator with which they will cooperate, and must then apply in writing to the Revenue Administration.
Which taxpayer groups will benefit from the Secure Mobile Payment System?
- Taxpayers whose commercial income is determined by the simplified method,
- Taxpayers who keep books on a business account basis,
- Taxpayers who keep books on a balance sheet basis,
- Taxpayers who earn self-employment income,
- Taxpayers who earn agricultural income taxed under the actual method,
- Tax-exempt tradespeople.
How can you switch to the Secure Mobile Payment System?
According to the Communiqué published by GIB, any business of any size that wants to switch to the Secure Payment System can move to the application by making an agreement with an authorized institution. The institutions authorized by GIB are:
- Financial Institutions,
- Integrator Institutions.
What are the benefits of the Secure Payment System?
The Secure Payment System moves all sales, invoicing and collection transactions to the electronic environment and gives your business many advantages in saving time and cost:
- You can switch to the Secure Payment System through mobile systems without setting up a new system infrastructure.
- Without paying any extra monthly fee, you can eliminate bank agreement fees, POS device fees, cash register costs and printing costs.
- With integratorship, you can reach agreements with 12 different banks.
- You can view all your invoices through the portal.
- You can be exempt from the OKC (payment recorder device) cost of a cash register and save on costs.
- If you wish, you can choose the hybrid payment system without using the OKC exemption; for your financial transactions you can use both a POS device and the Secure Mobile Payment System.
- You can easily carry out all your payments on a tablet and phone.
