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Payment Systems
The biggest benefit of contactless payment is completing small transactions quickly. You can pay purchases under 350 TL without a PIN, while purchases above 350 TL require your card PIN.
Laws & Regulations
This communiqué regulates the procedures and principles for the information systems used in running payment and securities settlement systems, from information security to business continuity.
Payment Institutions & E-Money
No. When applying, you must document that the company has 1 million TL of paid-in capital, paid in cash and free of collusion. The collateral is deposited with the CBRT only if the Board grants the license.
Laws & Regulations
Yes. A payment or electronic money institution may outsource its information systems, provided it complies with Articles 11 and 16 of the Information Systems Communiqué and Article 13 of the Regulation.
Laws & Regulations
No. Law No. 6493 sets no minimum number of shareholders, so under Turkish Commercial Code No. 6102 a payment or electronic money institution can be set up with a single shareholder.
Laws & Regulations
If a person with no prior direct or indirect stake in a payment institution acquires less than 10% of its capital, no approval is required. Acquiring 10% or more, or shares granting board nomination privileges, requires approval.
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.
Credit Card
Data on card payments made online in Türkiye is shared by BKM, updated monthly by number and value of transactions. Here is the link and how to interpret the figures.
Laws & Regulations
This communiqué sets the procedures and principles for managing the information systems payment and electronic money institutions use in their activities, and for their audit by authorized independent audit firms.
Laws & Regulations
Payment and electronic money institutions must set up internal control and risk management units, each with at least one dedicated employee. The same person cannot carry out both functions.
Merchant & POS
From simplified-method taxpayers to companies keeping balance sheet books, a wide range of taxpayer groups can benefit from the Secure Mobile Payment System. Here is the list and the businesses it suits.
Merchant & POS
GO Secure Payment is a system developed by BKM that verifies cardholders using a one-time password (OTP) during online purchases made with TROY cards, providing banks with a secure verification platform without needing to store card data.