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133 articles found
Credit Card
If your card has been stolen: call your card's bank and close it with a Stolen status, check for transactions you don't recognize and dispute them, and update any automatic payment instructions tied to the old card.
Payment Systems
The Interbank Card Center (BKM) periodically publishes payment systems reports on its website, making it possible to follow the sector's development. The report on mobile contactless and QR code payments is available on the BKM site.
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.
Closed-Loop Payments
Is Starbucks really selling coffee, or building an ecosystem? Prepaid balances, a loyalty program and customer data turn a coffee chain's payments into a closed-loop economy, a very different model from Istanbulkart.
Laws & Regulations
The Regulation amending the Regulation on Program of Compliance with Obligations of Anti-Money Laundering and Combating the Financing of Terrorism has been published. It introduces financial group compliance rules, a deputy compliance officer and wider scope.
Credit Card
Payment systems statistics are reported periodically by the Interbank Card Center (BKM), including total card count, total card turnover, and the growth trend of the card world in the period.
Merchant & POS
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.
Credit Card
BKM Online is the web-based electronic system that enables communication and information sharing between BKM and its members, including documents, reports, services and work calendars, according to user permissions.
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
The virtual POS merchant panel is where merchants manage documents, reports, notifications, transaction tracking, end-of-day, transactions and user permissions for their virtual POS.
Merchant & POS
When POS devices given to merchants are replaced or taken back, they must be returned in working order. A device that cannot be repaired, or only at high cost, is classified as a scrap POS.
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.