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Payment Systems
Payment and electronic money institutions have had a big impact on the development of payment systems. A sector research report prepared by the Ministry of Treasury and Finance helps explain this ecosystem.
Laws & Regulations
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.
Laws & Regulations
The purpose of this regulation is to set the procedures and principles for overseeing payment and securities settlement systems, including information requests, information systems, self-assessment and independent audits.
Merchant & POS
A reader asks whether a payment request taken at a customer's request should be sent as an e-commerce transaction, and what really separates Mail Order from E-commerce authorization.
Payment Systems
All payment and electronic money institutions operating in Türkiye fall under the relevant regulation. A license from a foreign authority is not enough; a foreign institution must obtain a license from the Central Bank.
Credit Card
Person-to-person payments (P2P) is an online technology that lets users transfer money from their bank or credit card accounts to another person's account over the internet or a mobile phone. Examples of such apps include PayPal, Venmo, and Cash App.
Payment Institutions & E-Money
The Law provides for judicial fines and prison sentences for people who act as a payment or electronic money institution without the required licenses, and for those who use names suggesting they do.
Merchant & POS
In-house is a term widely used in the world of payment systems. It means that payment systems applications are managed end-to-end within the bank's own systems, both in terms of code and process.
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
Although many important terms are used in payment systems, the expressions below are its cornerstones — the ABCs of payment systems, so to speak. Issuer: the credit card company, usually a bank, that issues the card and tracks debt, credit, bonus points, and other services for the customer.
Merchant & POS
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.
Payment Systems
The CBRT reset the minimum equity amounts for payment and e-money institutions: 10 million TL for bill payment institutions, 20 million TL for other payment institutions and 55 million TL for e-money institutions.