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Merchant & POS
An imprinter is the name given to devices that transfer all the information embossed on a credit card onto a paper sales receipt. Before POS terminals, it was commonly used by merchants for authorization transactions.
Merchant & POS
BKM (Interbank Card Center) shared 2018 developments in card payments and the cashless society goal in Turkey. The data shows card payments becoming a bigger part of daily life every year.
Merchant & POS
When any sole proprietorship or commercial business applies to become a merchant, banks install a POS device, paying significant amounts to purchase each one, then rent the devices to merchants.
Merchant & POS
Whether a card is required for a pre-authorization transaction depends on the type of POS used. On a physical POS, the card must be swiped or inserted to start the transaction. On a virtual POS, entering the card details manually is enough.
Laws & Regulations
The Visa Core Rules and Visa Product and Service Rules documents define the fundamental rules that apply to all institutions in the Visa network. They are updated regularly, and all members are expected to follow the latest version.
Payment Systems
The Ödeme İste (Request to Pay) System is a value-added service aiming to improve the customer experience in FAST, Türkiye's instant and continuous funds transfer system.
FAST
The upper limit for FAST transactions, which enable fast money transfers between banks, was raised to 50,000 TL per transaction as of 21 December 2023.
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The new regulation on payment services and e-money issuance, published on 1 December 2021, repealed the 2014 regulation on payment institutions and e-money institutions and the related information systems communiqué.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.
Cryptocurrency
Mining is the production of cryptocurrency through hardware and software, as well as the recording and confirmation of cryptocurrency transfers. Because block difficulty rises with each new unit, mining requires very powerful processors.
Merchant & POS
The regulation on generating and using TR QR Code in payment services was published in the Official Gazette No. 31220 on August 21, 2020. Its purpose is to set the standards for generating and using TR QR Code in payment services.
E-commerce
With the growth of the internet and its global reach, companies have increasingly begun to deliver their products to more people in foreign markets through online channels. This gives sellers an advantage beyond the domestic market and gives consumers wider access to products.
Laws & Regulations
The Regulation on the Generation and Use of TR QR Code in Payment Systems sets the standards for QR codes in payment services. The Central Bank has taken the first step by drafting rules for a common QR code structure.