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Payment Institutions & E-Money
VUK 507 is the common name of Tax Procedure Law General Communique Serial No. 507, published in the Official Gazette on 1/6/2019 on the Secure Mobile Payment and Electronic Document Management System. It sets the rules for sales, collection and electronic document applications.
Open Banking
Embedded Finance means integrating financial products and services into non-financial platforms, experiences or business processes. In other words, services offered by financial institutions become part of the product or service flows of non-financial organizations.
Credit Card
KKB was established, under banking law, to enable the exchange of all kinds of information and documents among at least five banks, and it also shares credit information about customers. The Credit Bureau of Turkey also serves deposit banks, participation banks, financial institutions, and more.
General
Who will win in Agentic Commerce? Owning the customer used to be a huge advantage. Once an agent starts deciding on the customer's behalf, where does the real power move to?
Agentic Commerce
The next customer on the internet may not be human. If AI agents become part of purchasing decisions, the rules of e-commerce, marketing, and payment systems could change.
E-commerce
AI agents are moving beyond answering questions to searching, deciding, and paying on behalf of users. This post explains Agentic Commerce and what it means for payment systems, digital wallets, e-money institutions, banks, and fintechs.
Agentic Commerce
Are We Ready to Give an AI Agent the Authority to Make Payments? Having long looked at complaint and dispute processes in payment systems, I think granting an agent payment authority is far different from research or product selection.
Credit Card
KKB (Credit Registration Bureau) is a private company established in 1995 under Banking Law No. 5411 with nine bank shareholders, sharing credit information among member institutions.
Merchant & POS
In the first post I explained what closed-loop payment systems are and how they differ from open-loop ones. Many of the replies I received boiled down to one question: how do these systems actually work behind the scenes once a QR code is scanned?
EMV
The AID tells the terminal which applications are present on a chip during a POS or ATM transaction. What does the AID do? It lets the terminal determine whether it supports an application on the chip. In Tag 9F06, it is 5-16 digits long.
Merchant & POS
Samsung Pay decided to add new services: users in India will soon be able to apply for financial products such as loans and credit cards through Samsung Pay, in partnership with Paisabazaar.
Payment Systems
Takasbank (Istanbul Settlement and Custody Bank) exists to increase the competitiveness of Turkey's markets by providing clearing and custody services, financial services, and other economic activities under the relevant legislation.