Laws & Regulations
What Is a Payment Service?
A payment service means the services offered under Article 12(1) of Law No. 6493. Essentially, it is delivering funds received from a sender to a recipient.
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"Debit Card"
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Payment Institutions & E-Money
What are Payment Services Data Sharing Services (OHVPS)?
Payment Services Data Sharing Services refers to the data sharing services used in the payment services set out in subparagraphs (f) or (g) of the first paragraph of Article 12 of Law No. 6493.
Merchant & POS
How Can I Find the Number of POS Terminals, ATMs and Cards in Türkiye?
The number of POS terminals, ATMs and cards in Türkiye is reported by BKM and updated monthly. Here is the link and how to read the figures.
Online & Authorization
What is EMV?
EMV stands for Europay, Mastercard and Visa. In 1994 these companies formed a working group to set chip-card standards, leading to the EMV standards used worldwide today.
Payment Systems
I Want to Establish an E-Money Institution in Turkey. How Should I Start?
Let's start by defining e-money. In general terms, e-money is a monetary value stored on a secure technological device (such as a computer disk). E-money is a concept defined under Turkish law through legislation enacted by the BRSA (BDDK).
Payment Institutions & E-Money
What Is an E-Money Institution? Which Services Can It Provide Under Law No. 6493?
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.
Payment Institutions & E-Money
What Is a Payment Institution? Which Services Can It Provide Under Law No. 6493?
A payment institution is a legal entity authorized under the Law to provide and execute payment services. It must be a joint stock company meeting the conditions in Article 14 of Law No. 6493. This post sets out the services listed in Article 12 and the exclusions.
Credit Card
What Is Application Label?
A mandatory alphanumeric field, 1-16 characters, sent in tag 50 of EMV transactions, representing a name related to the card application's AID in the ADF.
Chargeback
What Are the Chargeback Reason Codes Requiring a Draft Retrieval for MasterCard and Visa?
The MasterCard and Visa chargeback reason codes that always, sometimes or never require a draft retrieval before a chargeback, with their descriptions. Includes Visa codes such as 60, 75, 79 and 81 and MasterCard codes 4801 and 4802.
Payment Systems
What Are the Draft Retrieval Not Required Before Chargeback Codes?
The Draft Retrieval Not Required Before Chargeback codes defined for Visa and Mastercard are listed below, so you can see which disputes can go straight to chargeback.
ATM
What are Cash Overage and Cash Shortage?
Cash overage and cash shortage are terms used in any system that operates with a cash account. A cash overage means more money is physically present than the ledger indicates; a cash shortage means less. In payment systems, these terms are most often used for ATMs.
EMV
What are EMV Schemes?
EMV standards form the foundation for chip cards to work on terminals worldwide, but each scheme - VSDC (Visa), M/Chip (Mastercard), AEIPS (Amex), J Smart (JCB), D-PAS (Discover), and UICS (UnionPay) - defines its own keys, rules, and card profiles.