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Laws & Regulations
Turkey is rapidly implementing the items in the 11th Development Plan for a fintech ecosystem with equal opportunity. Under the approved law amendment, some BRSA powers over payment services and e-money companies were transferred to the CBRT, making it the single authority in payments.
Closed-Loop Payments
In the final post of the closed-loop payments series, the common question behind cards, QR payments, and prepaid balances comes into focus: who manages the customer relationship, and whose ecosystem does the customer stay in?
Debit Card
A prepaid card is a customized card that is not linked to a bank account and has no credit limit like a credit card - you can spend only up to the amount loaded onto it. Prepaid cards function just like a bank card or credit card.
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?
FAST
Yes. To change the account an Easy Address is linked to, log in through the other bank's channel and create a new Easy Address definition. From that moment on, the old definition at the previous bank becomes invalid.
Merchant & POS
The checkout page is where an online purchase is completed, and cart abandonment is highest there. This post lists design tips: support all cards, limit transition pages, show security cues, allow guest checkout and remove distractions.
Security
Before 3D Secure 2.0, let's explain what 3D Secure is. 3D Secure is a two-layer payment authentication system that protects both the cardholder and the merchant in online payments. First released by Visa in 1999, it was later adopted by other card schemes…
FAST
The FAST limit, which was decided on 4 August 2021 to be raised to 2,000 TL, has been raised to 2,000 TL as of today. Instant payment volumes are expected to grow further as EFT volumes decline.
Laws & Regulations
The articles of the Regulation on the Accessibility of Banking Services are listed below. Published in the Official Gazette on 18 June 2016 (issue 29746), banks must strictly comply with them. PART ONE Purpose...
Payment Systems
The CBRT reset the minimum equity amounts for payment and e-money institutions: 10 million TL for bill payment institutions, 20 million TL for other payment institutions and 55 million TL for e-money institutions.
Merchant & POS
A smart cash register is a new-generation, IP-based payment recording device that integrates a cash register with a POS terminal. It combines fiscal devices and POS devices in a single unit and transmits data to the Ministry of Finance in real time.
Credit Card
A prepaid card is a customized chip or chipless card that is not linked to a bank account and has no credit limit like a credit card. You can only spend up to the amount loaded onto the card.