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Payment Systems
Digital Account Checking underpins many innovative banking and FinTech services. In most cases, it is performed by Account Information Service Providers, which supply data from customers' online bank accounts to other banks and third-party providers.
Credit Card
The service code is information printed on a card's Track 1 and Track 2 data, covering card type, PIN usage, and domestic/international usage status. It is kept at the product level in bank systems.
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.
Open Banking
NextGenPSD2 is the set of API standards launched by the Berlin Group in 2017, now involving more than 1,700 banks from 20 countries. This post explains what the framework offers to banks, fintechs and third-party providers under PSD2.
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.
Payment Systems
New-generation payment recording devices (ÖKC) now play an important role for businesses and sole proprietors. The Revenue Administration's site covers both the legislation and usage details.
Payment Institutions & E-Money
Used as an abbreviation for Application Programming Interface, an API is an interface that allows an application's functions to be accessed and used from outside or remotely, letting an application on a server be reached from different platforms.
Credit Card
From the invite-only American Express Centurion Card to the diamond-studded Dubai First Royal MasterCard, discover the world's most exclusive credit cards.
Chargeback
Chargeback reason codes vary by card scheme. The Amex chargeback reason codes and their descriptions are listed below: American Express Chargeback Reason Codes A01 The charge you submitted did not receive a valid authorization approval code for the amount...
Payment Institutions & E-Money
No. As of the license application date, the internal control and risk management units must already be set up, with their staff, job descriptions, powers and responsibilities defined.
Payment Systems
The Address Verification Service (AVS) is a fraud prevention system that, when used effectively, can help limit fraud and chargebacks. This post lists the AVS response codes used by AMEX, Mastercard and Visa, with a description of each.
Merchant & POS
The regulation on generating and using TR QR Code in payment services was published in the Official Gazette No. 31220 on August 21, 2020. Its purpose is to set the standards for generating and using TR QR Code in payment services.