Laws & Regulations
What Is a Payment Service?
A payment service means the services offered under Article 12(1) of Law No. 6493. Essentially, it is delivering funds received from a sender to a recipient.
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"money transfers"
96 articles found
Payment Institutions & E-Money
What are Payment Services Data Sharing Services (OHVPS)?
Payment Services Data Sharing Services refers to the data sharing services used in the payment services set out in subparagraphs (f) or (g) of the first paragraph of Article 12 of Law No. 6493.
FAST
Can Non-Bank Institutions Join the FAST System?
Yes. The FAST system was first launched with the participation of banks in Türkiye, and integration has been completed with 21 banks. Non-bank institutions meeting the criteria, such as payment and e-money institutions, will also be able to join.
Clearing
What is Reimbursement Attribute?
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.
Payment Systems
Guide Linking Payment Business Models to Payment Service Types Published
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.
Payment Systems
Guide Published on Reporting Unauthorized Payment Service Providers to the CBRT
The CBRT has published a guide on reporting persons and institutions that provide payment services without authorization. Under Law No. 6493, offering such services outside the CBRT's published list of payment and e-money institutions is a criminal offense.
Laws & Regulations
The Central Bank of the Republic of Türkiye (CBRT) Announces the Launch of Open Banking Services
The CBRT announced that it has launched open banking services in payments, a component of the digital economy roadmap of its liraization strategy, through BKM's Open Banking Gateway (GEÇİT).
Merchant & POS
What is Digital Payment?
Payments made over the internet are called digital payments. Card payments, cryptocurrency, and online banking transfers all fall within the scope of digital payment, along with mobile wallets and QR code payments.
Merchant & POS
Can I get a POS device as an individual customer?
For a POS device to be issued to a customer, the customer must have a legal entity status, such as a sole proprietorship, commercial company, or foundation/association. POS devices cannot legally be issued to individual customers.
Laws & Regulations
CBRT Publishes Press Release on the Instant Payment System
In its press release of 12 November 2020, the Central Bank of the Republic of Türkiye announced that preparations had been completed to launch FAST, a new instant payment system.
Mobile Payments
What Is FAST – TR QR Code?
TR QR Code is the QR code standard defined by the regulation on generating and using TR QR codes in payment services. FAST – TR QR Code refers to the TR QR Code used for payments made through FAST, built on BKM's infrastructure.
ATM
Depositing Money with a QR Code
Many banks now let customers deposit cash by scanning a QR code with their mobile banking app instead of inserting a card at the ATM. This speeds up the transaction, reduces card skimming risk, and adds an extra layer of security through in-app verification.