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Laws & Regulations
It is data published by the BRSA, compiled from information periodically collected through the BRSA Data Transfer System (BVTS) from banks and other institutions under its supervision.
Merchant & POS
No slip printed after a POS transaction? Here's how to check whether the transaction actually went through and what steps to take if the receipt never came out.
Credit Card
The BRSA reduced the maximum number of credit card installments for foreign spending on airlines, travel agencies and accommodation from 6 months to 3 months.
Payment System Institutions
Thanks to the API developed by BKM, BKM Express member merchants can automatically update the BIN lists of cards issued by all banks in Türkiye and offer installments and reward points more efficiently.
Fraud
Chargeback is the process of refunding a credit card payment when the goods or services that should have been received were not, or when transactions not made by the cardholder are identified. In Turkish it is translated as reversal of presentment.
Payment Systems
As part of the first-phase work of the Digital Turkish Lira Project led by the Central Bank of the Republic of Turkey (CBRT), the first payments on the Digital Turkish Lira Network were successfully carried out. The CBRT will continue its closed-loop pilot tests in the first quarter of 2023.
ATM
ATMs generally hold your bank/credit card inside the card reader slot until the transaction is completed. Fraudsters insert foreign objects such as paper or adhesive-coated cards into the reader to trap the customer's card inside.
Credit Card
ISO/IEC 7816 is an international standard jointly maintained by ISO and IEC, covering contact-based electronic identification cards, especially smart cards. It consists of 15 different parts, each covering a different aspect of smart card technology.
ISO 8583
F32 - ACQUIRING INSTITUTION IDENTIFICATION CODE: the 11-digit acquirer bank ID. The values it can take for domestic transactions and by card brand include Visa, MasterCard, UnionPay, Discover and JCB formats.
Online & Authorization
The Application Transaction Counter is the number of transactions made with the card so far. It increases by 1 with each transaction and can also be used as a transaction number, making transactions easier to track.
Security
Fraud cases where scammers pose as bank staff or other institution employees to obtain citizens' banking information have increased significantly recently. Interestingly, the new fraud trend closely mirrors the steps of a genuine banking procedure.
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.