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Payment Systems
The Interbank Card Center (BKM) shared its data for the first 6 months of 2021: card payments totaled TRY 709 billion, online card payments reached TRY 188 billion, and the number of contactless payments tripled year on year.
Payment Systems
BKM shares card payment data periodically. In 2020, the pandemic reshaped payment habits in Turkey: contactless and online payments surged and the total card payment amount grew 17 percent to TRY 1.15 trillion, with about 264 million cards in circulation.
Credit Card
The coronavirus has turned the past month into a new way of life. How will these changes affect payment systems? This post reviews the March 2020 data announced by BKM, including the surge in contactless and online card payments.
Payment Systems
BKM, short for Interbank Card Center, is a legal entity established in 1990 with contributions from 13 public and private Turkish banks to provide clearing and settlement for cards.
Payment Systems
An amendment was made to the communiqué on the information systems of payment and e-money institutions and data sharing services, setting 31/3/2025 as the deadline for other payment service providers' obligations.
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.
Credit Card
According to a survey by the Interbank Card Center measuring card usage habits in Turkey, card usage is increasing every day. Credit card preference rose from 61% in 2015 to 68% in 2017, while cash preference fell from 35% to 27%.
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.
Merchant & POS
MIV stands for Central Merchant Database. The MIV Module collects information on merchants across Turkey and the TRNC that have card acceptance agreements with BKM members, and assigns each merchant a unique number for tracking purposes.
Credit Card
In the standard authorization flow, the transaction is initiated by the acquirer (POS bank) and forwarded to the issuer (card-issuing institution). The process is completed once the issuer responds. However, this isn't always possible; when the issuer fails to respond, BKM steps in...
Merchant & POS
On-Us Leakage is a term used in the world of payment systems. On-us means the card-issuing bank and the POS-acquiring bank are the same. So what does on-us leakage mean in this context?
Payment Institutions & E-Money
On 7 October 2023, the CBRT amended the Communiqué on Information Systems of Payment and E-Money Institutions and Data Sharing Services of Payment Service Providers, first published on 1 December 2021. Links to the new text, a comparison table and a detailed summary of changes follow.