Search
607 articles found
Payment Institutions & E-Money
A company that collects online payments through its own virtual POS and pays merchants on agreed dates is providing a payment service, and it needs a license from the Board unless an exemption applies.
Laws & Regulations
No. An electronic money institution licensed under Law No. 6493 is a payment service provider, so it can carry out the payment services listed in the Law without a separate license.
Laws & Regulations
No. There is an exemption for technical service providers that offer IT support for the provision of payment services. However, they have responsibilities under the Communiqué on outsourcing and information security.
Laws & Regulations
Under the Directive, it is clear that some e-commerce platforms should be within scope. Whether a platform counts as a payment institution depends on its business model.
Laws & Regulations
This communiqué regulates how payment and electronic money institutions manage their information systems, how authorized independent auditors audit them, and the data sharing services of payment service providers.
Payment Systems
You can find the regulations under Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions on the BRSA website. They are updated as new regulations are introduced.
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.
Payment Institutions & E-Money
A payment institution is a legal entity authorized under the Law to provide and execute payment services. It must be a joint stock company meeting the conditions in Article 14 of Law No. 6493. This post sets out the services listed in Article 12 and the exclusions.
Merchant & POS
In the first post I explained what closed-loop payment systems are and how they differ from open-loop ones. Many of the replies I received boiled down to one question: how do these systems actually work behind the scenes once a QR code is scanned?
Payment Systems
BKM shares card payment data periodically. In 2020, the pandemic reshaped payment habits in Turkey: contactless and online payments surged and the total card payment amount grew 17 percent to TRY 1.15 trillion, with about 264 million cards in circulation.
Payment Institutions & E-Money
With digitalization, many products are becoming digital, and company types and services offered to customers are diversifying. Payment institutions have been part of our lives since 2015.
Merchant & POS
BKM (Interbank Card Center) shared 2018 developments in card payments and the cashless society goal in Turkey. The data shows card payments becoming a bigger part of daily life every year.