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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.
ISO 8583
DE 10, Conversion Rate, Cardholder Billing, is an 8-digit numeric value. The first digit shows the position of the decimal point from the right, and the next 7 digits show the value.
Merchant & POS
Today, credit cards play an important role in our daily lives. We can carry out almost all of our transactions without carrying cash, using our credit card instead. During a purchase, we hand our card to the cashier and enter our PIN at the POS terminal.
ATM
With the advancement of technology, cash withdrawal methods have also diversified. The latest trend is withdrawing cash with a QR code. By generating a QR code through the mobile branch app of a bank that supports this feature, customers can withdraw cash from an ATM without a card.
Merchant & POS
The Secure Mobile Payment System is a system permitted by the Ministry, operated under the Revenue Administration (GIB) Communiqué, for sales, payment and collection transactions and the electronic creation, transmission and retention of the related financial documents.
Laws & Regulations
The Regulation on the Generation and Use of TR QR Code in Payment Systems sets the standards for QR codes in payment services. The Central Bank has taken the first step by drafting rules for a common QR code structure.
ATM
ATM stands for Automated Teller Machine, an electronic device that lets customers carry out account transactions with or without a card. It was invented in 1960 by John Shepherd-Barron. The first ATM in Turkey was installed in 1982.
Payment System Institutions
One of the most important transformations in banking over the last few years has undoubtedly been remote customer onboarding. Individuals can now become bank customers within minutes without visiting a branch. Digital identity checks and contracts largely solved a long-standing problem...
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 Systems
Let's talk about payment systems, which we have heard more about since the internet entered our lives, and the basic structures behind them. The first credit card in the world was used in America in the 1920s.
Merchant & POS
Address Verification Service (AVS) is a fraud prevention system that helps limit fraud and chargebacks when used effectively. It verifies that the address a customer enters matches the cardholder's address on file with the issuer.
FAST
The Easy Addressing System (KOLAS) is one of the layered services of FAST, the Central Bank's instant funds transfer system, developed and operated by BKM. It lets users send money via phone number or email instead of an IBAN.