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Merchant & POS
A POS batch close triggers reconciliation between the transactions under that batch number and the bank's records, and starts the transfer to the merchant's account.
Merchant & POS
A smart cash register is a new-generation, IP-based payment recording device that integrates a cash register with a POS terminal. It combines fiscal devices and POS devices in a single unit and transmits data to the Ministry of Finance in real time.
Merchant & POS
All banks report the POS and merchant data they allocate to customers to BKM's MIV and MPV systems, which BKM then reports. These notifications include merchant and POS location details such as address, province, and district.
HSM & Security
RSA, first used by Rivest, Shamir and Adleman, is a security algorithm used in digital cryptography. RSA differs from older symmetric algorithms because it enables digital signing and advanced encryption for e-commerce systems and high-profile institutions.
Payment Institutions & E-Money
Digitalization is showing itself first in banking and payment systems. The BRSA has announced it will begin issuing digital (branchless) bank licenses, opening the way for new digital banks in Turkey under an amendment to Banking Law No. 5411.
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.
Online & Authorization
Account-to-account (A2A) payments can be described as making a payment by transferring money from one bank account to another. Though similar to wire transfer/EFT, combining the transfer with the payment creates a seamless experience.
Chargeback
Chargeback reason codes vary by card scheme. The Amex chargeback reason codes and their descriptions are listed below: American Express Chargeback Reason Codes A01 The charge you submitted did not receive a valid authorization approval code for the amount...
Credit Card
Limit Control System (LKS): A system provided by KKB (Credit Bureau of Turkey) that allows customers' limit details to be checked in real time. It provides member banks (or institutions) with information sharing on consumers' credit card limits. Under the regulation by the BRSA...
Fraud
Fraud monitoring refers to tracking card transactions through scenarios to detect potential fraud and taking rapid action immediately before or after a transaction occurs - such as identifying a suspicious transaction, calling the customer, or temporarily blocking the card to prevent authorization.
Payment System Institutions
One of the most important transformations in banking over the last few years has undoubtedly been remote customer onboarding. Individuals can now become bank customers within minutes without visiting a branch. Digital identity checks and contracts largely solved a long-standing problem...
Payment Systems
The purpose of these rules is to set out the operating rules, participation requirements, and pricing principles of the QR Code Routing System (KYS) established and operated by BKM, as well as other procedures related to KYS's operation.