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Payment System Institutions
These are credit institutions providing financing to individuals and companies for purchasing goods and services. Financing companies specialize mainly in vehicle loans, offering fast and flexible point-of-sale solutions distinct from banks.
Payment Systems
WhatsApp, one of the world's leading messaging apps, is rolling out a long-awaited new feature. After the update, users in Brazil will be able to shop and pay from within the app. Meta announced that users can now pay small businesses directly in WhatsApp.
Credit Card
KKB was established, under banking law, to enable the exchange of all kinds of information and documents among at least five banks, and it also shares credit information about customers. The Credit Bureau of Turkey also serves deposit banks, participation banks, financial institutions, and more.
FAST
The upper limit for FAST transactions, which enable fast money transfers between banks, was raised to 50,000 TL per transaction as of 21 December 2023.
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.
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
You can access the regulations on the Bank Cards and Credit Cards Law on the BRSA website. The regulations are updated as new ones are introduced.
Payment Systems
The BRSA has published a draft amendment to the regulation on remote identification methods used by banks and electronic contract relationships. It extends remote onboarding to legal entities, including MERSIS-based verification of representatives.
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.
Open Banking
The Global Fintech Hubs Federation is a global federation bringing together more than 20 FinTech organizations worldwide, including FinTech Istanbul. Its duties include fostering unity for the ecosystem and sharing knowledge and experience.
Open Banking
Digital banking is talked about more every day, and with the BRSA's support in defining its scope, it is about to enter our lives. A 'digital bank' is a credit institution that provides banking services mainly through electronic channels rather than physical branches.
E-commerce
The E-Marketplace Platforms Sector Inquiry Preliminary Report, published by the Turkish Competition Board, is very valuable for understanding the development and current state of e-commerce.