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Payment Systems
In payment systems, an “appeal” is the process of objecting to the outcome of a transaction dispute. It is usually discussed alongside chargebacks, but it plays a critical role in interbank dispute resolution, when a party asks the card scheme to re-evaluate a concluded decision.
Payment Systems
Digitalization keeps changing the speed and shape of payments. AI-based payment agents pay on their own within user-defined limits and rules, completing transactions without the user initiating any action. This post explains how they work and what to watch for.
Online & Authorization
You press the pay button and the screen says the transaction failed. Behind that failure are checks on your balance and transaction security. This post explains how funds confirmation APIs work, where they apply, and the situation in Turkey's open banking.
Payment Systems
Official Gazette No. 32332 dated 07.10.2023 published the amending Regulation and Communiqué covering digital wallets, e-money, share transfers, cloud outsourcing, remote identity verification and card system choice.
Payment Systems
Payment systems need laws and regulations to be managed according to set standards. BKM, a reference point for payment systems in Türkiye, lists the relevant laws and regulations on its website.
Payment Systems
Let's start by defining e-money. In general terms, e-money is a monetary value stored on a secure technological device (such as a computer disk). E-money is a concept defined under Turkish law through legislation enacted by the BRSA (BDDK).
Payment Systems
Open banking opens financial data, under the regulations and with the customer's explicit consent, to third-party service providers through standard APIs. The CBRT has published a guide on payment initiation and account information services, covering licensing and technical certification.
Payment Systems
The BRSA has published a draft regulation amending the Regulation on Debit Cards and Credit Cards. It introduces the card scheme definition, a customer right to choose the card scheme, and an obligation for acquirers to define licensed schemes on merchant POS devices.
Payment Systems
This Guide links business models frequently encountered in the payments field to the payment services listed in Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions, and aims at uniformity in practice.
Laws & Regulations
BKM (Interbank Card Center) membership is available in 3 statuses: bank, institution or HSK. This post explains the eligibility criteria for each status, the 12-month certification requirement and the BKM fee principles.
Open Banking
No. Under the BRSA communiqué on service model banking, service banks can provide service model banking only to interface developers resident in Türkiye.
Payment Systems
Store and Forward (SAF) describes offline transaction processing. It was originally developed when modems were introduced and connections were not always stable, letting terminals store transactions and forward them once connectivity is restored.