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Credit Card
The BRSA has issued a new decision on contactless cards, instructing banks to require a PIN on the first contactless transaction to prevent cards from being used without the customer's knowledge.
Payment Systems
Payment systems need laws and regulations to be managed according to set standards. BKM, a reference point for payment systems in Türkiye, lists the relevant laws and regulations on its website.
Payment Systems
This guide, prepared in line with the regulation and its annex on TR QR Code principles and rules, gives sample mobile payment flows and defines the TR QR Code data organization for merchant-presented and consumer-presented models.
Payment System Institutions
TROY, Türkiye's domestic payment method founded by the Interbank Card Center (BKM) and licensed by the BRSA and the Central Bank in March 2016, is being spun off into a separate company.
Laws & Regulations
In its press release of 12 November 2020, the Central Bank of the Republic of Türkiye announced that preparations had been completed to launch FAST, a new instant payment system.
Security
In payment systems, personalized security credentials are information such as the PIN, card/account/e-money details, expiry date and security code (CVV) that identify the payment instrument and its user.
Laws & Regulations
The information and documents required in license applications to provide payment services or issue electronic money in Türkiye are listed in the first and second paragraphs of Article 8 of the Regulation.
E-commerce
Transactions paid at regular intervals can be defined in the system so that only the installment amount blocks the credit card limit; these are called recurring transactions, used for subscriptions or automatic bill payments.
Credit Card
Prepaid cards have changed how families manage children's spending. The Manibux allowance app now serves schools with its K12 application, letting parents load separate allowance and canteen balances for their children.
Merchant & POS
3D Secure is short for Three Domain Secure (Issuer Domain, the Interoperability Domain and the Acquirer Domain), used to increase security in online transactions. Known to cardholders as 3D Secure, these systems are given unique names by payment schemes (MasterCard, Visa, etc.).
Payment Systems
Every payment transaction completes in seconds, yet dozens of controls run behind the scenes. This post covers the precautions for authorization and clearing, the critical role of reversals, and the financial loss scenarios most often seen in the field.
Credit Card
PSE (Payment System Environment) is a directory on the card named 1PAY.SYS.DDF01 for a contact chip and 2PAY.SYS.DDF01 for a contactless chip. The Candidate List built via PSE is called indirect or implicit Application Selection.