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Laws & Regulations
Under Article 13 of Law No. 6493, payment services can be provided by banks, electronic money institutions, payment institutions and PTT. Anyone else is prohibited from offering them.
Laws & Regulations
No. A payment institution is a legal entity authorized by the Board to provide payment services. “Payment service provider” is a broader concept covering banks, electronic money institutions and payment institutions together.
Merchant & POS
The Personal Data Protection Law was adopted by the Grand National Assembly of Turkey on 24/03/2016 and published in Official Gazette No. 29677 on 07/04/2016. It protects individuals' rights in the processing of personal data and sets the rules that data controllers must follow.
Merchant & POS
When signing a merchant agreement, merchants declare their line of business, which banks record as an MCC (Merchant Category Code). A merchant may only sell products or services within the line of business declared to its bank.
Merchant & POS
Since the MCC code is a merchant's category code, it's critical for the checks performed during merchant onboarding and authorization, including campaigns and restrictions.