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Payment Institutions & E-Money
Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions defines a payment instrument as a personalized device such as a card, mobile phone, or password.
Merchant & POS
The Personal Data Protection Law was adopted by the Grand National Assembly of Turkey on 24/03/2016 and published in Official Gazette No. 29677 on 07/04/2016. It protects individuals' rights in the processing of personal data and sets the rules that data controllers must follow.
Online & Authorization
In payment systems, the term transaction refers to the operations performed. Each transaction has its own distinct characteristics. For example, a Sale made from a POS differs from a Sale Cancellation or a Cash Withdrawal made from an ATM.
Credit Card
While the use of physical cards and POS terminals is gradually declining, positive developments continue, such as the world's first wooden card, TreeCard, backed by the search engine Ecosia and aimed at reforesting the world.
Security
In online shopping, converting product browsing into a completed sale after a customer visits your site is just as critical. The amount of purchases abandoned due to friction in the online buying process often exceeds successful sales.
Merchant & POS
The PCI Security Standards Council (PCI SSC), founded in 2006 by Amex, Discover, JCB, Mastercard and Visa, has shared its data security and testing standard for accepting contactless payments on smartphones and tablets without extra hardware.
Merchant & POS
Advances in payment systems make shopping safer and easier for customers. For e-commerce sites and brands, offering reliable, practical and fast payment options is a serious advantage. An online payment link is one innovative way to accept payments without a POS device.
Security
Payment security is very important in payment systems. To increase security, transactions require additional information such as PINs and passwords. Remembering which information to use, and keeping it in mind without forgetting…
Credit Card
The Payment Card Industry Data Security Standard (PCI DSS) is a technical and operational standard created by the PCI Committee, formed by internationally recognized payment brands, to ensure data security in card payment systems.
Payment Systems
Published in the Official Gazette of 25.11.2022, six days before the Transition Period ended, an amending Regulation and Communiqué extended the transition period for some obligations of payment and e-money institutions from 01.12.2022 to 28.02.2023.
EMV
DFN is the abbreviation for Dedicated File Name. It defines the name of the DF (Dedicated File) as described in ISO/IEC 7816-4. It is the data found in Tag 84, 5 to 16 characters in length.
Payment Institutions & E-Money
The Law defines e-money as monetary value issued in exchange for funds accepted by the issuer, stored electronically, used for payment transactions and accepted as a payment instrument by persons other than the issuer. This post explains e-money institutions and the services they may provide.