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Merchant & POS
A surcharge is a fee, charge, or tax added to the cost of a good or service. In payment systems, it refers to adding the merchant's transaction commission to the cash sale amount on credit card transactions, resulting in a higher charge.
Credit Card
In credit card transactions made through a POS, receiving approval alone is not enough for the transaction to post to the card's statement period; settlement must also take place. The settlement period, known as the open-authorization waiting time, varies by transaction type.
Credit Card
For people who have trouble paying credit card debt, who do not pay, or who pay late, the concepts of legal collection and administrative collection are not unfamiliar. So, what are legal collection and administrative collection? After a statement is issued on the card,…
Payment Systems
Know Your Customer, in short, means identifying your customer. The process by which institutions identify their customers and determine their suitability for a business relationship and the risks they may pose is called KYC.
Credit Card
The BRSA reduced the maximum number of credit card installments for foreign spending on airlines, travel agencies and accommodation from 6 months to 3 months.
Laws & Regulations
The articles of the Regulation on the Accessibility of Banking Services are listed below. Published in the Official Gazette on 18 June 2016 (issue 29746), banks must strictly comply with them. PART ONE Purpose...
Credit Card
While reviewing your credit card statement, you suddenly notice a transaction you never made. What would you think? Is your card going shopping while you sleep? Let's look at how this can happen and what to do about it.
Laws & Regulations
A payment institution is a legal entity that provides payment services for electronic payments through the infrastructure it offers. This article covers the Turkish regulatory framework, licensing, safeguarding, supervision, penalties and taxation.
FAST
The upper limit for FAST transactions, which enable fast money transfers between banks, was raised to 50,000 TL per transaction as of 21 December 2023.
Debit Card
A debit-featured card issued to a sole proprietorship, a commercial company, or a foundation/association is called a commercial debit card. Operationally, it is no different from a personal debit (ATM) card. It has its own limit, status, and user.
Payment System Institutions
According to the CBRT's official website, the Central Bank of the Republic of Turkey has become the controlling shareholder of the Interbank Card Center (BKM), using the authority granted by Law No. 7192.
Credit Card
To ease payments during post-coronavirus normalization and support domestic tourism, the BRSA raised the credit card installment limit for domestic airline, travel agency and accommodation spending from 12 to 18 months.