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Payment Systems
Payment systems need laws and regulations to be managed according to set standards. BKM, a reference point for payment systems in Türkiye, lists the relevant laws and regulations on its website.
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.
Payment Institutions & E-Money
Innovations in payment systems continue. The CBRT's Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers was amended and published in the Official Gazette, with new minimum equity requirements and activity restrictions.
Payment Institutions & E-Money
The new regulation on payment services and e-money issuance, published on 1 December 2021, repealed the 2014 regulation on payment institutions and e-money institutions and the related information systems communiqué. This post summarizes the change and the Article 33 equity requirement.
Laws & Regulations
It is the regulation that sets out the procedures and principles for banks procuring support services, that is, outsourcing. Some services such as catering, legal counsel and advertising are outside its scope.
Laws & Regulations
The purpose of this regulation is to set the procedures and principles for the operating licenses and activities of the operators of payment and securities settlement systems.
Merchant & POS
The regulation on generating and using TR QR Code in payment services was published in the Official Gazette No. 31220 on August 21, 2020. Its purpose is to set the standards for generating and using TR QR Code in payment services.
Merchant & POS
The Central Bank of the Republic of Turkey has capped the commission banks charge merchants on credit card purchases, effective for transactions after November 1, 2019. What does this mean for cardholders and banks?
Laws & Regulations
The purpose of this regulation is to set the procedures and principles for overseeing payment and securities settlement systems, including information requests, information systems, self-assessment and independent audits.
Laws & Regulations
The Law lists services for intermediating bill payments as a payment service, but it uses no terms such as “bill payment center”. These services can be provided by licensed payment institutions and electronic money institutions.
Laws & Regulations
The Equity-Based Crowdfunding Communiqué entered into force with its publication in the Official Gazette on 03.10.2019 and explains how money is raised from the public through crowdfunding platforms in exchange for shares. What are crowdfunding and equity-based crowdfunding?
Payment Systems
Published in the Official Gazette of 25.11.2022, six days before the Transition Period ended, an amending Regulation and Communiqué extended the transition period for some obligations of payment and e-money institutions from 01.12.2022 to 28.02.2023.