Search
132 articles found
Payment Systems
Official Gazette No. 32332 dated 07.10.2023 published the amending Regulation and Communiqué covering digital wallets, e-money, share transfers, cloud outsourcing, remote identity verification and card system choice.
ATM
ISO 4217, also known as the currency code standard, defines the three-letter abbreviations assigned to currencies. The ISO 4217 code list is used extensively in banking and business. In some countries, exchange offices rely on these codes alone.
Merchant & POS
According to the Central Bank, the maximum commission rates banks may charge merchants are based on a reference rate: the latest two-week weighted average interest rate on 32–45 day Turkish lira deposits.
EMV
BIC stands for Bank Identifier Code. It is the universal bank identification code used for automated processing in banking and related financial environments, identifying banks as specified by the ISO 9362 standard.
Payment Systems
“Brick and mortar” refers to a business's physical presence in a building. In banking, it describes the traditional branch-based model of face-to-face contact between bank and customer.
Open Banking
No. Under the BRSA communiqué on service model banking, service banks can provide service model banking only to interface developers resident in Türkiye.
Chargeback
A soft chargeback, also called a retrieval request, is a request for documents about a transaction the cardholder does not recognize. Learn why customers request them, what information merchants should provide, and why a fast response matters.
Merchant & POS
Partial Authorization lets an issuer approve part of a transaction instead of declining it when the balance or limit is insufficient. This post covers how it works in ISO 8583, whether it is mandatory, and why it matters for the business.
Chargeback
A chargeback is when cardholders dispute a transaction made without their knowledge through their card-issuing bank. So what does a Retrieval Request mean? It is essentially a document request related to transactions a cardholder does not recognize on their statement.
Merchant & POS
If your POS can't start a new transaction, it's likely stuck trying to send a reversal for an earlier transaction. Here are two fixes: one recommended, one risky.
Credit Card
Pre-authorization reduces the merchant's risk by blocking part of the card's limit for a set period. Since a credit card has a defined limit, an amount can be blocked against it. ATM cards and prepaid debit cards have no such limit to block.
Payment Systems
The BRSA has published a draft amendment to the regulation on remote identification methods used by banks and electronic contract relationships. It extends remote onboarding to legal entities, including MERSIS-based verification of representatives.