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FAST
Request to Pay lets users request payment from people who owe them money through a banking application. The CBRT has expanded the FAST Request to Pay Overlay Service so that corporate users can also use it.
Closed-Loop Payments
Is Alipay a payment system, or a digital economy? In the previous post we discussed how Starbucks shows that payment systems can evolve into a different structure. At first the goal was to make payment easier for the customer. As the system grew, loyalty programs...
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.
Payment Systems
This Guide links business models frequently encountered in the payments field to the payment services listed in Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions, and aims at uniformity in practice.
Credit Card
A structure developed by Visa for purchase refund transactions. The purchase return authorization message lets cardholders view their refund transactions in real time, improving the customer refund experience.
ISO 8583
The card's Track 2 data is carried in this field. Track 2 data contains information such as the card number, expiry date and service code.
Payment Systems
All e-money institutions are authorized to issue e-money under Article 18, paragraph 2 of Law No. 6493. In addition, the payment services they are authorized to provide under Article 12 of Law No. 6493 are shown in the table below.
Merchant & POS
According to the Central Bank, the maximum commission rates banks may charge merchants are based on a reference rate: the latest two-week weighted average interest rate on 32–45 day Turkish lira deposits.
Laws & Regulations
The Central Bank of the Republic of Türkiye (CBRT) extended the compliance deadlines for digital wallets and GEÇİT. The digital wallet deadline moved from 7 October 2024 to 7 April 2025.
ATM
ATM maintenance is essential for ATM longevity. SLM (Second Line Maintenance) covers repairs that require a toolkit and part replacement, usually without access to the ATM safe, while FLM handles simpler cash and consumable tasks.
General
Who will win in Agentic Commerce? Owning the customer used to be a huge advantage. Once an agent starts deciding on the customer's behalf, where does the real power move to?
Payment Institutions & E-Money
The Central Bank (CBRT) approved the Crowdfunding System Activity of the Central Registry Agency (MKK) as one of its other activities. Here is the Official Gazette decision and what Article 17 of the regulation says.