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Merchant & POS
Payment and e-money institutions' commissions were first subject to VAT, but since their work resembles banking, BSMV was debated. Expenditure Taxes General Communiqué No. 91 settled the question.
Merchant & POS
In the past, collecting a payment meant physically swiping a card through a POS device. Payment methods have since diversified so much that customer satisfaction, transaction counts and volumes have all increased. Here is why SMS payment is gaining popularity.
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
BSMV stands for Banking and Insurance Transaction Tax, levied on banking and insurance transactions. This post explains how it applies to payment institutions and e-money institutions under Expense Taxes General Communiqué No. 91, with an example.
Merchant & POS
Financial institutions, cash register (OKC) manufacturers, and private integrators run this Ministry-authorized system under Communique No. 507 on the Tax Procedure Law, enabling mobile sales with electronic financial documents.
Merchant & POS
A Z Report is a report taken at the end of the business day, bearing a sequential number, that gives detailed information about sales made using a cash register during a business day, the revenue earned, and the VAT collected.
Merchant & POS
Response codes returned on payment transactions are critical for managing next steps. Curious which error codes trigger card capture? Under ISO 8583, codes 04, 07, 33, 34, 36, 38, 41 and 43 all result in the card being captured.
Merchant & POS
A step-by-step walkthrough of a 100 TL POS sale: end-of-day batch close, clearing through BKM, interchange and merchant commission, and why the merchant gets paid even if the cardholder never pays the card bank.
Payment Systems
Why do institutions track inefficient POS terminals and lines? This post looks at the costs they create, such as device purchases, field service and software fees, and how to deal with merchants that generate little turnover.
Merchant & POS
A POS batch close triggers reconciliation between the transactions under that batch number and the bank's records, and starts the transfer to the merchant's account.
Credit Card
As credit cards become more and more a part of our lives, we now make almost all our purchases without cash. We inserted our card into the merchant's POS. We made a 100 TRY sale transaction. We received a receipt confirming it was successful.
Merchant & POS
VPOS (Virtual POS) is the software-based, security-enhanced equivalent of the physical POS devices used for card payments at merchants, used for purchases made over the internet. It is also known as Virtual POS. VPOS is not issued to individual customers.