Merchant & POS
What is the Merchant Rental Fee?
When any sole proprietorship or commercial business applies to become a merchant, banks install a POS device, paying significant amounts to purchase each one, then rent the devices to merchants.
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Chargeback
What Is Compliance (Regulatory Compliance)?
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.
Fraud
Do Cardholders Have the Right to Dispute Transactions Made Without Their Knowledge?
Yes. Cardholders have the right to dispute transactions made with their cards without their knowledge. Here is how the process, known as a chargeback, works.
Payment Systems
Communiqué on Replacing Old-Generation Payment Recorder Devices with New-Generation Devices Published
With its announcement of 30/11/2023, the Revenue Administration published a draft Tax Procedure Law General Communiqué to complete the replacement of old-generation payment recorder devices (EN OKC) with new-generation ones (YN OKC), reduce cash use and increase card payment options.
Merchant & POS
What is a surcharge?
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.
Chargeback
What Is HİYS (Dispute Management System)?
The Dispute Management System (HİYS) is the system used among BKM members to share chargeback transactions and the supporting documents that must accompany them, linked to Domestic Clearing and Settlement System data.
Merchant & POS
What Kind of Insights Can We Draw from Province-Level Merchant, POS, and ATM Counts?
All banks report the POS and merchant data they allocate to customers to BKM's MIV and MPV systems, which BKM then reports. These notifications include merchant and POS location details such as address, province, and district.
Merchant & POS
Is it mandatory to work with a bank to get a POS terminal?
The answer depends on the type of POS terminal. A physical POS (GPRS, Dial-Up, IP, or cash-register POS) requires working with a bank. A virtual POS can also be obtained from a payment institution without a separate bank agreement.
Merchant & POS
What is BKM TechPOS?
BKM TechPOS is an infrastructure through which card acquirers and POS/cash register manufacturers can interoperate via BKM, letting all participating banks provide card acceptance services on a single device.
Merchant & POS
What Does a Restricted/Prohibited MCC Mean?
The MCC code, or Merchant Category Code, is a 4-digit code used to classify merchants. Some MCC codes are restricted or prohibited, and POS terminals or card transactions may be blocked when such a code is used.
Merchant & POS
What is a Code 10 message?
Code 10 is when a merchant suspects the cardholder or the card is counterfeit and calls the card's bank, which then verifies the transaction with the merchant's bank. If staff suspect a card or cardholder, they should call the bank immediately.
Payment Systems
Where Does the Mill's Water Come From? How Banks Really Earn from Credit Card Campaigns
How do banks fund so many points, bonuses, and discounts? This post explains the credit card profitability model: merchant commissions, interchange, interest income, installments, and why campaigns are an investment in transaction volume rather than a cost.