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Payment Institutions & E-Money
A prepaid card usable only at goods and service providers inside a single holiday village is considered to be used within a limited network and outside the scope of the Law, provided certain conditions are met.
Payment Systems
Global technology companies' interest in payment systems keeps growing every day. According to reports, Apple has begun planning work on infrastructure to accept installment payments with Apple Card, letting users pay in monthly installments.
Laws & Regulations
A prepaid card used only in brand X's stores is considered to be used “only within a limited network of service providers”, and therefore outside the scope of the Law under Article 18(5). Each business model must still be assessed separately.
Payment Systems
“Brick and mortar” refers to a business's physical presence in a building. In banking, it describes the traditional branch-based model of face-to-face contact between bank and customer.
Laws & Regulations
BSMV stands for Banking and Insurance Transaction Tax, levied on banking and insurance transactions. This post explains how it applies to payment institutions and e-money institutions under Expense Taxes General Communiqué No. 91, with an example.
Laws & Regulations
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.
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.
E-commerce
Online shopping is a form of e-commerce in which consumers complete purchases over the internet using a credit card/debit card, bank transfer, or cash on delivery.
Merchant & POS
Current information: this article describes the limit in force at the time of publication. To reduce the risk of the coronavirus (Covid-19) spreading, the contactless transaction limit on credit and debit cards was raised to 250 lira.
Merchant & POS
Payments made over the internet are called digital payments. Card payments, cryptocurrency, and online banking transfers all fall within the scope of digital payment, along with mobile wallets and QR code payments.
Merchant & POS
The digital form of Point of Sale (POS) systems is called Digital POS. There is also a software-only subtype called Virtual POS. After Mobile POS (mPOS) and Virtual POS usage became widespread, the term digital POS came to refer to these two products.
Credit Card
Installment payment means dividing a product's price into a set number of equal amounts. For example, if a 100 TL product is bought in 5 installments, the cardholder pays 20 TL a month for 5 months, totaling 100 TL.