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Online & Authorization
OpenAI and Stripe announced the Agentic Commerce Protocol (ACP), with Instant Checkout live on Etsy and Shopify in the US. What this means for payment facilitators and e-commerce platforms, and what may come beyond one-click checkout.
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.
Merchant & POS
The Merchant Registry System is the system at BKM that holds information on merchants accepting electronic payments, set up to simplify TR QR Code payment processes and prevent fraud and misuse in payments.
Chargeback
Chargeback is inherent to card transactions, so it may be impossible to prevent entirely, but taking precautions keeps the risk to a minimum. Here are the key points merchants should pay attention to in order to reduce chargebacks.
Payment System Institutions
BKM (Interbank Card Center) works through several committees: Security, Operations and Technology, Market Development, Business Development, Chargeback Rules and Arbitration, ATM Sharing, plus arbitration committees. This post outlines each one's duties.
Payment Systems
Every payment transaction completes in seconds, yet dozens of controls run behind the scenes. This post covers the precautions for authorization and clearing, the critical role of reversals, and the financial loss scenarios most often seen in the field.
Online & Authorization
Account-to-account (A2A) payments can be described as making a payment by transferring money from one bank account to another. Though similar to wire transfer/EFT, combining the transfer with the payment creates a seamless experience.
Online & Authorization
Pay by link is an innovative financial solution that completes a payment through a link sent over the internet, making it possible to shop and transfer money through channels like WhatsApp and Instagram.
Merchant & POS
The EU Payment Services Directive 2 (PSD2) is the EU's payment services law. ÖDED translated it into Turkish, creating an important handbook for anyone wanting to invest or work in this area.
Online & Authorization
You press the pay button and the screen says the transaction failed. Behind that failure are checks on your balance and transaction security. This post explains how funds confirmation APIs work, where they apply, and the situation in Turkey's open banking.
Merchant & POS
Chip&Pin, introduced in Turkey on March 31, 2006, is a payment method that greatly reduces the risks of card copying and loss or theft fraud. The chip on the card reduces copying risk, while the 4-digit PIN prevents unauthorized use of a lost card.
Payment Systems
The limit for FAST transactions, which enable interbank 24/7 instant money transfers, was raised to TRY 20,000 as of 14.02.2023. This post covers the change and its impact; the figure is historical and the limit has since been raised again.