Payment Systems
Agentic Commerce Series - Part 2
If users start describing their needs instead of searching for products, one of the internet economy's most fundamental habits could change.
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Agentic Commerce
Agentic Commerce Series – Part 1
The next customer on the internet may not be human. If AI agents become part of purchasing decisions, the rules of e-commerce, marketing, and payment systems could change.
Closed-Loop Payments
Alipay: Payment System or Digital Economy? | Closed-Loop Payments #5
Is Alipay a payment system, or a digital economy? In the previous post we discussed how Starbucks shows that payment systems can evolve into a different structure. At first the goal was to make payment easier for the customer. As the system grew, loyalty programs...
E-commerce
What Is Agentic Commerce? How AI Agents Will Change E-Commerce and Payment Systems
AI agents are moving beyond answering questions to searching, deciding, and paying on behalf of users. This post explains Agentic Commerce and what it means for payment systems, digital wallets, e-money institutions, banks, and fintechs.
Payment Institutions & E-Money
What Is an E-Money Institution? Which Services Can It Provide Under Law No. 6493?
The Law defines e-money as monetary value issued in exchange for funds accepted by the issuer, stored electronically, used for payment transactions and accepted as a payment instrument by persons other than the issuer. This post explains e-money institutions and the services they may provide.
Payment Systems
What are the Visa and MasterCard product codes?
Below is information on the products found in the Visa and MasterCard systems and their associated product codes, listed under Product ID (cardProductId).
E-commerce
What Is B2C (Business to Consumer)?
B2C stands for Business to Consumer and refers to producers selling their products to consumers online. It is the most widely used and best-known business model in e-commerce.
E-commerce
What is Online Payment?
Making payments over the internet using a card is called online payment. Learn what online payment systems are used for and what happens behind an online transaction, from the payment gateway to the issuing bank.
Merchant & POS
MasterCard Is Getting Ready for Voice Shopping
Payment systems once meant a physical card and a PIN on a POS device. Digitalization that began with contactless transactions has accelerated with mobile payments, and MasterCard is now working on voice shopping and Soft POS in Turkey.
Payment Institutions & E-Money
What Is a Payment Institution? Which Services Can It Provide Under Law No. 6493?
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.
Payment Systems
What Is a Payment Initiation Service Provider (PISP)?
A Payment Initiation Service Provider (PISP) can initiate a payment on a customer's behalf, withdrawing funds directly from their account with consent. Norway's Vipps is the most widely used PISP, and more providers are expected as PSD2 expands across Europe.
Credit Card
What Are the Advantages and Disadvantages of a Credit Card?
Credit cards can be a convenient way to manage income and expenses, but for those who don't know how to use them, they can become an expensive and risky product. Here are the key pros and cons to weigh before applying for one.