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Payment Systems
A Payment Initiation Service Provider (PISP) can initiate a payment on a customer's behalf, withdrawing funds directly from their account with consent. Norway's Vipps is the most widely used PISP, and more providers are expected as PSD2 expands across Europe.
Merchant & POS
PSD stands for Payment Services Directive, known as the Payment Services Law. It took effect in EU countries in 2009, and in 2015 new revisions were announced as PSD1, aiming to build an efficient, fast, secure, and competitive payment market.
Payment Systems
All e-money institutions are authorized to issue e-money under Article 18, paragraph 2 of Law No. 6493. In addition, the payment services they are authorized to provide under Article 12 of Law No. 6493 are shown in the table below.
Laws & Regulations
Under Article 13 of Law No. 6493, payment services can be provided by banks, electronic money institutions, payment institutions and PTT. Anyone else is prohibited from offering them.
Laws & Regulations
Under the Directive, payments made through telecom operators cover the purchase of digital services such as music, digital newspapers, e-tickets or charity donations, within certain amount thresholds.
Merchant & POS
The Regulation on the Non-Use of Crypto Assets in Payments, published in the Official Gazette on 16 April and effective from 30 April, looks set to seriously affect cryptocurrency developments in Turkey. Here are its key points and the full text.
Payment Systems
You can find the regulations under Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions on the BRSA website. They are updated as new regulations are introduced.
Open Banking
EPSM is a non-profit trade association that represents its members' interests and enables the exchange of news, information and opinions about the European payments market.
Laws & Regulations
The Regulation amending the Regulation on Program of Compliance with Obligations of Anti-Money Laundering and Combating the Financing of Terrorism has been published. It introduces financial group compliance rules, a deputy compliance officer and wider scope.
Payment Systems
With its announcement of 30/11/2023, the Revenue Administration published a draft Tax Procedure Law General Communiqué to complete the replacement of old-generation payment recorder devices (EN OKC) with new-generation ones (YN OKC), reduce cash use and increase card payment options.
Payment Systems
WhatsApp, one of the world's leading messaging apps, is rolling out a long-awaited new feature. After the update, users in Brazil will be able to shop and pay from within the app. Meta announced that users can now pay small businesses directly in WhatsApp.
Laws & Regulations
When payment institutions and e-money institutions were first established, the commissions they collected from customers were subject to VAT. Because they carry out activities similar to banking, BSMV was also debated. The General Communiqué on Expense Taxes (Series No: 91) resolved this.