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Credit Card
While it is true that, with technological advancement, the trend of using payment transactions without a physical card via mobile phones has increased, there are many reasons why cards are still physically printed and delivered to customers.
Credit Card
A credit card is a loan granted by the bank, so it must follow certain criteria and stay within a limit. As card usage changes over time, the need for a higher limit can arise.
Credit Card
Banks must go through a costly, arduous process to issue cards (issuer) and accept cards (acquirer), paying high entry fees to international license providers and local organizations such as BKM.
Merchant & POS
BKM publishes card usage data every three months. In the first half of 2020, card payments reached TL 500 billion, contactless payments tripled, and online card payments surged in the electronics and clothing sectors.
Payment Systems
BKM, short for Interbank Card Center, is a legal entity established in 1990 with contributions from 13 public and private Turkish banks to provide clearing and settlement for cards.
Payment Systems
How do banks fund so many points, bonuses, and discounts? This post explains the credit card profitability model: merchant commissions, interchange, interest income, installments, and why campaigns are an investment in transaction volume rather than a cost.
Credit Card
The BRSA raised the card limit threshold used to set the minimum payment rate from TRY 50,000 to TRY 100,000. This post explains what changed, why now, the short-term relief, the risk of carried-over balances, and which data to watch.
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
Card copying usually happens with magnetic stripe debit cards. As soon as you notice your card details have been copied, you can close the card, renew it or change its PIN.
EMV
The EXTERNAL AUTHENTICATE command asks the application inside the ICC whether it can verify the cryptogram, and the ICC returns the processing status. Below are the components of the External Authenticate command and what issuer authentication means.
Credit Card
You can withdraw cash from an ATM using your credit card by accessing your account. The prerequisite is that a current account must be linked to your card. If not, only limited functions are available.
Credit Card
There are around 65,000,000 credit cards in Turkey. By design, credit cards work by opening a line of credit, allowing spending against that limit, generating a statement based on spending, and having the customer pay the resulting debt.