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FAST
Current information: This post describes the limit in effect at the time of publication. The FAST transaction limit, introduced in January, was raised periodically and reached 1,000 TL as of January 29. See the newer post for the current FAST limit.
ATM
It's a term used in ATM systems within payment systems. In ATM transactions, cash in question is placed into a separate compartment for review, called the reject bin. Retract is the customer's holding bin; reject is the ATM's reject bin.
ATM
Retract is a term used in ATM systems. When cash already presented to the customer is not taken, it is diverted into a compartment called retract, as opposed to the reject compartment used for unusable banknotes.
Credit Card
Credit card fraud keeps changing form, but the aim is always to trick the cardholder into giving up card details. Fraudsters posing as delivery couriers now copy cards on modified POS devices. Here is how the scam works and how to protect yourself.
Credit Card
In the early years of credit cards, using the card physically was mandatory. With the internet and new technologies, we can now pay with only the card details, 3D Secure and contactless NFC payments, even without the card in hand.
Payment Institutions & E-Money
The new regulation on payment services and e-money issuance, published on 1 December 2021, repealed the 2014 regulation on payment institutions and e-money institutions and the related information systems communiqué. This post summarizes the change and the Article 33 equity requirement.
Laws & Regulations
The Regulation on Generating and Using TR QR Code in Payment Services and its attached TR QR Code Principles and Rules document were published in the Official Gazette No. 31220 dated August 21, 2020, to ensure interoperability in QR code payments.
Payment Institutions & E-Money
Under Law No. 6493, payment institutions and e-money institutions may operate only with BRSA permission. This post explains the BRSA circular on the format of the independent audit report required with operating permit applications under Article 8 of the Regulation, and where to find it.
Laws & Regulations
BKM (Interbank Card Center) membership is available in 3 statuses: bank, institution or HSK. This post explains the eligibility criteria for each status, the 12-month certification requirement and the BKM fee principles.
Open Banking
Embedded Finance means integrating financial products and services into non-financial platforms, experiences or business processes. In other words, services offered by financial institutions become part of the product or service flows of non-financial organizations.
Payment Systems
Takasbank (Istanbul Settlement and Custody Bank) exists to increase the competitiveness of Turkey's markets by providing clearing and custody services, financial services, and other economic activities under the relevant legislation.
Laws & Regulations
The CBRT announced that it has launched open banking services in payments, a component of the digital economy roadmap of its liraization strategy, through BKM's Open Banking Gateway (GEÇİT).