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Closed-Loop Payments
Is Alipay a payment system, or a digital economy? In the previous post we discussed how Starbucks shows that payment systems can evolve into a different structure. At first the goal was to make payment easier for the customer. As the system grew, loyalty programs...
Payment Systems
Couriers are used to physically deliver cards (credit, debit, prepaid) to customers. Here is a brief look at the card's life cycle, from application and printing to courier sorting and final delivery.
Credit Card
KKB was established, under banking law, to enable the exchange of all kinds of information and documents among at least five banks, and it also shares credit information about customers. The Credit Bureau of Turkey also serves deposit banks, participation banks, financial institutions, and more.
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.
Payment Systems
Regularly reporting and tracking how many transactions fail at each merchant matters for both the merchant and the acquirer. BKM error codes tell us why POS transactions fail.
Cryptocurrency
Mining is the production of cryptocurrency through hardware and software, as well as the recording and confirmation of cryptocurrency transfers. Because block difficulty rises with each new unit, mining requires very powerful processors.
ATM
In a letter to banks as part of the fight against inflation, the CBRT asked them to stock small-denomination banknotes in ATMs instead of 200 TL notes. Is this a ban or a recommendation, and what are the operational consequences for ATMs and banks?
Payment System Institutions
BKM (Interbank Card Center) works through several committees: Security, Operations and Technology, Market Development, Business Development, Chargeback Rules and Arbitration, ATM Sharing, plus arbitration committees. This post outlines each one's duties.
Security
The Visa PIN Security Program Guide describes the security and procedural requirements for acquirers and their agents that process PIN data or manage keys for PINs associated with Visa transactions.
Payment Systems
Takasbank (Istanbul Settlement and Custody Bank) exists to increase the competitiveness of Turkey's markets by providing clearing and custody services, financial services, and other economic activities under the relevant legislation.
Security
In online shopping, converting product browsing into a completed sale after a customer visits your site is just as critical. The amount of purchases abandoned due to friction in the online buying process often exceeds successful sales.
Payment Systems
B2B and B2C are collaboration models used in e-commerce transactions. This post explains what each term means and compares them in terms of customer, purchasing, sales and marketing.