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Credit Card
Yes. A credit card cancellation request cannot be refused on the grounds that there is an outstanding balance on the card, and no annual membership fee can be charged during the repayment period of a card cancelled this way.
Clearing
DE03/Reimbursement Attribute carries the Reimbursement Value of a transaction. BKM uses this information as the basis for calculating interchange fees and charges between member banks.
Merchant & POS
In daily credit card purchases, the POS produces two receipts: the Customer Copy and the Merchant Copy. The cardholder gets the customer copy; the merchant keeps its own copy by law.
Credit Card
A look at the Union Bank RuPay combo card, an unusual design with two chips, two card numbers, two CVV2 values, two magnetic stripes, and two payment schemes combining credit and debit card functions.
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
Cashback is a modern POS terminal service that allows cash to be withdrawn from the merchant's till while paying for goods and services. Although cashback is a feature specific to debit cards, you can also withdraw cash from an ATM...
Credit Card
A prepaid card is a customized card, with or without a chip, not linked to a bank account and without a credit limit like credit cards, letting you spend only the amount loaded onto it.
Payment Systems
BKM shares card payment data periodically. In 2020, the pandemic reshaped payment habits in Turkey: contactless and online payments surged and the total card payment amount grew 17 percent to TRY 1.15 trillion, with about 264 million cards in circulation.
Merchant & POS
BKM (Interbank Card Center) shared 2018 developments in card payments and the cashless society goal in Turkey. The data shows card payments becoming a bigger part of daily life every year.
Credit Card
At first glance, a credit card seems like a product offered for cardholders' use and benefit, but it also provides significant benefits to merchants, from faster cash flow to collection security and new customers.
Laws & Regulations
A payment institution is a legal entity that provides payment services for electronic payments through the infrastructure it offers. This article covers the Turkish regulatory framework, licensing, safeguarding, supervision, penalties and taxation.
Fraud
Contactless transactions have grown rapidly, but can a payment really be made from your wallet without your knowledge? Here is what the actual risks and safeguards look like.