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Merchant & POS
Merchants can run the end-of-day process by triggering it from the POS device or app for transactions made there. Banks can also run it centrally on merchants' behalf. The end-of-day process sends the POS's transaction totals to the bank's host system.
Merchant & POS
When a chip card transaction is made at a POS, it may be approved by the card and the POS alone, without reaching any system (issuer or acquirer). When do the issuer and acquirer find out about it?
Chargeback
Compliance means adherence to card scheme rules. Outside chargebacks, it is how a bank that loses money because card payment organization rules were broken recovers that amount from the party that caused the loss.
Credit Card
The minimum payment amount is the portion of the monthly debt - resulting from a cardholder's credit card spending shown on the latest statement - that must be paid. How much of the total debt is the minimum payment amount? Although the calculation varies from bank to bank...
Credit Card
The BRSA raised the card limit threshold used to set the minimum payment rate from TRY 50,000 to TRY 100,000. This post explains what changed, why now, the short-term relief, the risk of carried-over balances, and which data to watch.
Closed-Loop Payments
Is Starbucks really selling coffee, or building an ecosystem? Prepaid balances, a loyalty program and customer data turn a coffee chain's payments into a closed-loop economy, a very different model from Istanbulkart.
Merchant & POS
Partial authorization lets an issuer approve part of the requested amount when the card lacks the full balance, with the rest paid another way. This post covers the technical, receipt, clearing, reconciliation, merchant and certification requirements for acquirers.
ATM
Due to inflation and other financial conditions, banks in Türkiye raised their ATM cash withdrawal limits as of 1 January 2025, from 10,000 TL to 15,000 TL and, at some banks, up to 20,000 TL.
Payment Systems
As part of the first-phase work of the Digital Turkish Lira Project led by the Central Bank of the Republic of Turkey (CBRT), the first payments on the Digital Turkish Lira Network were successfully carried out. The CBRT will continue its closed-loop pilot tests in the first quarter of 2023.
Open Banking
Digital banking is talked about more every day, and with the BRSA's support in defining its scope, it is about to enter our lives. A 'digital bank' is a credit institution that provides banking services mainly through electronic channels rather than physical branches.
Payment Institutions & E-Money
The Law defines e-money as monetary value issued in exchange for funds accepted by the issuer, stored electronically, used for payment transactions and accepted as a payment instrument by persons other than the issuer. This post explains e-money institutions and the services they may provide.
Laws & Regulations
Turkey is rapidly implementing the items in the 11th Development Plan for a fintech ecosystem with equal opportunity. Under the approved law amendment, some BRSA powers over payment services and e-money companies were transferred to the CBRT, making it the single authority in payments.