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Payment Institutions & E-Money
On 7 October 2023, the CBRT amended the Communiqué on Information Systems of Payment and E-Money Institutions and Data Sharing Services of Payment Service Providers, first published on 1 December 2021. Links to the new text, a comparison table and a detailed summary of changes follow.
Credit Card
Germany-based Deutsche Bank is launching a new credit card in Spain with a dynamic CVV code that changes every four hours, to make online shopping more secure. Deutsche Bank partnered with Mastercard and Idemia for the new card, launched under the Tarjeta Calma brand.
Security
Social engineering is the art of obtaining information people should normally keep private by exploiting the human factor. In its computer- and technology-based form, the information is obtained through technology.
Laws & Regulations
The purpose of this regulation is to set the procedures and principles for overseeing payment and securities settlement systems, including information requests, information systems, self-assessment and independent audits.
Laws & Regulations
No. There is an exemption for technical service providers that offer IT support for the provision of payment services. However, they have responsibilities under the Communiqué on outsourcing and information security.
Laws & Regulations
Under Article 13 of Law No. 6493, payment services can be provided by banks, electronic money institutions, payment institutions and PTT. Anyone else is prohibited from offering them.
Merchant & POS
The Personal Data Protection Law was adopted by the Grand National Assembly of Turkey on 24/03/2016 and published in Official Gazette No. 29677 on 07/04/2016. It protects individuals' rights in the processing of personal data and sets the rules that data controllers must follow.
Online & Authorization
In EMV, data is stored in Tag-Length-Value (TLV) format, and it is carried between the card, the POS terminal, and the authorization system in this same format. This post lists every EMV Tag, its type, and its description.
HCE
Tokenization and digitization are two important terms in mobile payments that are easily confused and often used interchangeably. What is the difference between digitization and tokenization?
Payment System Institutions
BKM (Interbank Card Center) works through several committees: Security, Operations and Technology, Market Development, Business Development, Chargeback Rules and Arbitration, ATM Sharing, plus arbitration committees. This post outlines each one's duties.
Merchant & POS
GO Secure Payment is a system developed by BKM that verifies cardholders using a one-time password (OTP) during online purchases made with TROY cards, providing banks with a secure verification platform without needing to store card data.
Online & Authorization
The Application Version Number is the version number of the application on the card. For example, the Visa VSDC application version number is 131, and the Mastercard M/Chip Lite version number is 2.