FAST
What Is the FAST Transaction Limit?
The limit in FAST, the CBRT's new instant payment system launched on 8 January, started at 50 TL. It was raised to 250 TL on 14 January and 500 TL on 21 January, and will be raised to 1,000 TL on 28 January.
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"Banking Operations"
209 articles found
Merchant & POS
What Is a POS (Point of Sale)?
Virtual or electronic authorization devices connected to a bank, used by merchants to accept card payments. The term comes from the English phrase Point of Sale. Covers POS types by communication method, their advantages, who can use one, and the transactions a POS can perform.
Credit Card
What Is the Transaction Life Cycle in the Card World?
As credit cards become more and more a part of our lives, we now make almost all our purchases without cash. We inserted our card into the merchant's POS. We made a 100 TRY sale transaction. We received a receipt confirming it was successful.
Laws & Regulations
Remote Identity Verification, Reliance on Third Parties and Open Banking
Digitalization is changing how banks onboard customers. This post covers digital identity, verification methods, what the Turkish ID card offers, and Article 43 of the Regulation on Information Systems of Banks and Electronic Banking Services on remote identity verification and open banking.
Merchant & POS
Terms that should be in your payment systems glossary
Below are the definitions of the cornerstone terms of payment systems, as established by the Banks Association of Turkey (TBB): debit card, credit card, merchant, cardholder, and more.
Laws & Regulations
FAST Limit Being Raised to 2,000 TL
The upper limit for FAST transactions, raised to 1,000 TL on 29 January 2021, was increased to 2,000 TL on 4 August 2021, and payment and e-money institutions began applying to join the system.
Merchant & POS
If I don't pay my credit card debt, can the merchant still get its money?
A step-by-step walkthrough of a 100 TL POS sale: end-of-day batch close, clearing through BKM, interchange and merchant commission, and why the merchant gets paid even if the cardholder never pays the card bank.
FAST
What Should You Do If a Mobile Phone Number Defined as an Easy Address Is Cancelled?
With the Easy Address system, your mobile phone number has become more important. If you cancel your number, notify your bank as soon as possible, delete the outdated definitions and register your current information again.
Payment Institutions & E-Money
Must a Bill Payment Institution Deposit Its 1 Million TL Collateral With the CBRT When Applying for a License?
No. When applying, you must document that the company has 1 million TL of paid-in capital, paid in cash and free of collusion. The collateral is deposited with the CBRT only if the Board grants the license.
Payment Systems
What Are the Mastercard Transaction Processing Rules? How Can I Access Them?
The rules in this guide relate to the processing of Transactions and Payment Transactions made with Mastercard-branded cards. Here are the key definitions and where to find the document.
Laws & Regulations
What Is the Regulation on the Activities of Payment and Securities Settlement Systems?
The purpose of this regulation is to set the procedures and principles for the operating licenses and activities of the operators of payment and securities settlement systems.
Payment Systems
BRSA Publishes Draft Regulation Amending the Regulation on Debit Cards and Credit Cards
The BRSA has published a draft regulation amending the Regulation on Debit Cards and Credit Cards. It introduces the card scheme definition, a customer right to choose the card scheme, and an obligation for acquirers to define licensed schemes on merchant POS devices.