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Payment Systems
Published in the Official Gazette of 25.11.2022, six days before the Transition Period ended, an amending Regulation and Communiqué extended the transition period for some obligations of payment and e-money institutions from 01.12.2022 to 28.02.2023.
Merchant & POS
It's important to first distinguish between magnetic-stripe and fallback transactions. A magnetic-stripe transaction skips the chip entirely, which lowers its security level compared to a fallback transaction.
Payment Systems
Before describing the Onus Installment process, it is better to first answer: what is an Onus transaction? An Onus transaction is when the acquirer and issuer are the same institution, so the transaction is processed through that institution.
Merchant & POS
When POS devices given to merchants are replaced or taken back, they must be returned in working order. A device that cannot be repaired, or only at high cost, is classified as a scrap POS.
Payment Systems
Regularly reporting and tracking how many transactions fail at each merchant matters for both the merchant and the acquirer. BKM error codes tell us why POS transactions fail.
Payment Systems
The CBRT has published a guide on reporting persons and institutions that provide payment services without authorization. Under Law No. 6493, offering such services outside the CBRT's published list of payment and e-money institutions is a criminal offense.
Credit Card
Banks must go through a costly, arduous process to issue cards (issuer) and accept cards (acquirer), paying high entry fees to international license providers and local organizations such as BKM.
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.
Payment Systems
No, they cannot use your entire card limit. In addition to special controls for contactless cards, contactless-enabled cards have limited payment amounts.
Chargeback
A chargeback is the refund of an amount paid by credit card to the cardholder's card when the purchased goods or services were not received, or when a transaction was not actually carried out by the cardholder.
Clearing
YTH stands for Yurtiçi Takas Hesaplaşma (Domestic Clearing and Settlement), the general name of the clearing system managed by BKM. In the clearing system, prefix values are held in fields F32, F93, F94 and F100.
Merchant & POS
The Regulation on the Non-Use of Crypto Assets in Payments, published in the Official Gazette on 16 April and effective from 30 April, looks set to seriously affect cryptocurrency developments in Turkey. Here are its key points and the full text.