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Payment Institutions & E-Money
Under the Law on Payment Services and Electronic Money Institutions, the organs, duties and powers, and working principles of the Payment and Electronic Money Institutions Association of Turkey have been determined. The statute is now in force.
Merchant & POS
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.
Payment Systems
The Banking Regulation and Supervision Agency (BRSA) had prepared a draft communiqué on the remote identity verification methods banks can use. According to the communiqué published in today's Official Gazette, the practice enters into force on May 1.
ATM
ATMs make many banking transactions faster and easier, but like any electronic device they can run into trouble, including swallowing your card. Here is why it happens and what to do.
Payment Institutions & E-Money
Innovations in payment systems continue. The CBRT's Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers was amended and published in the Official Gazette, with new minimum equity requirements and activity restrictions.
Laws & Regulations
The upper limit for FAST transactions, raised to 1,000 TL on 29 January 2021, was increased to 2,000 TL on 4 August 2021, and payment and e-money institutions began applying to join the system.
Payment Institutions & E-Money
No. Virtual currency is a digital representation of value not issued by any central bank, credit institution or e-money institution. Electronic money is defined in Turkish law and is tied to an electronic money institution.
Laws & Regulations
Law No. 6493, published in Official Gazette No. 28690 on 27 June 2013, regulates the procedures and principles for payment and securities settlement systems, payment services, payment institutions and e-money institutions.
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
Law No. 7192 amends Law No. 6493 and brings changes on payment services, e-money and open banking, including the transfer of regulatory and supervisory powers from the BRSA to the CBRT and the addition of PSD2-style services.
Laws & Regulations
The articles of the Regulation on the Accessibility of Banking Services are listed below. Published in the Official Gazette on 18 June 2016 (issue 29746), banks must strictly comply with them. PART ONE Purpose...
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.