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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
TR QR Code refers to QR code information created according to the regulation on generating and using the TR QR code in payment services, which can be used in payments under Law No. 6493.
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.
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 System Institutions
FAST is the money transfer system announced by the Central Bank of the Republic of Türkiye in its press release of 12 November 2020 that makes 24/7 money transfers possible.
Payment Systems
The Central Bank has published a guide setting out the detailed technical principles and rules for using TR Karekod in card payment transactions, based on the TR Karekod Regulation and the TR Karekod Principles and Rules.
Payment Systems
Takasbank (Istanbul Settlement and Custody Bank) exists to increase the competitiveness of Turkey's markets by providing clearing and custody services, financial services, and other economic activities under the relevant legislation.
Credit Card
Although card usage today is shifting from physical use toward virtual use, physical card production, personalization, and printing remain vital steps in card manufacturing. Here are the companies that produce and personalize cards in Turkey.
Merchant & POS
Doctor POS devices are POS terminals designed for physicians, dentists, and veterinarians who are income taxpayers, meeting the requirements set out in the General Communique of the Tax Procedure Law (VUK).
FAST
The limit in FAST, the CBRT's new instant payment system launched on 8 January, started at 50 TL. It was raised to 250 TL on 14 January and 500 TL on 21 January, and will be raised to 1,000 TL on 28 January.
Payment Systems
In payment or cash withdrawal transactions, the TR QR Code is generated by the POS or ATM. The card issuing bank must build its systems to read and act on this code. Errors usually stem from mishandling the long and short QR code flows, which are explained here.
HCE
A tokenized card number replaces a physical card number so transactions can be carried out securely. It is generated by the TSP (Token Service Provider), used by the cardholder or merchant, and travels across the payment systems network.