Credit Card
What Is TROY?
TROY, announced by the Interbank Card Center (BKM) in September 2015, is a card scheme like VISA, MasterCard, or AMEX. It takes its name from the initials of its Turkish slogan meaning 'Turkey's Payment Method'.
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Credit Card
What is an Affinity Card (Membership Card)?
An affinity card is a type of credit card issued by a bank that carries the logo of a social organization such as an association, foundation, sports club, or charity (for example, Fenerbahce Bonus). It is similar in structure to a co-branded card.
Credit Card
How Many Types of Membership Are There by Card Scheme?
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.
Chargeback
What is Arbitration?
Arbitration, by definition, is a dispute resolution method in which disputes are settled by arbitrators the parties choose themselves, rather than by official courts. In payment systems, it follows a chargeback when the issuer and acquirer cannot agree.
Chargeback
What is a chargeback?
A chargeback is the process of refunding an amount back to a credit card when goods or services paid for are not received, or when transactions not carried out by the cardholder are identified. It is translated into Turkish as reverse presentment.
Payment Systems
Are Permissions on Physical POS Devices Kept Only on the POS and the Host?
No. Besides the POS and the host, permissions can also be kept in the issuer data. This lets banks, for example, allow installments only for a brand's BINs, or allow mail order for credit cards but not debit cards.
Merchant & POS
What Is Secure Payment (GO)?
GO Secure Payment is a system developed by BKM that verifies cardholders using a one-time password (OTP) during online purchases made with TROY cards, providing banks with a secure verification platform without needing to store card data.
Credit Card
How Should the Relationship Between Credit Card Count and POS Be Interpreted for Banks?
Credit cards and POS are two core products banks offer customers. At first glance, credit cards seem to generate no return beyond interchange fees, card fees, and late fees.
Credit Card
Discover Cardholders Will Be Able to Use Their Points at PayPal Merchants
To issue a card, the necessary certifications must be obtained from brands such as MasterCard, Visa, Troy, and Discover, and the card must be made available for cardholder use. Banks aim to increase customer loyalty by running points programs and similar campaigns.
Payment System Institutions
TROY, Türkiye's Payment Method, Is Becoming a Separate Company
TROY, Türkiye's domestic payment method founded by the Interbank Card Center (BKM) and licensed by the BRSA and the Central Bank in March 2016, is being spun off into a separate company.
HSM & Security
What Should Be Done to Ensure Internet Banking Security?
In the past, banking meant going to a branch. Today, most transactions run through channels such as the Internet Branch, ATM and Mobile Branch, so improving internet banking security and regularly informing customers about it is important.
Credit Card
GrabPay Card Launched
Grab, one of Southeast Asia's ride-hailing companies with a strong interest in finance, has introduced the GrabPay Card. Like the Apple Card, the physical card carries no card number, name or expiry date.