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Laws & Regulations
This communiqué regulates how payment and electronic money institutions manage their information systems, how authorized independent auditors audit them, and the data sharing services of payment service providers.
Payment System Institutions
FAST is the money transfer system announced by the Central Bank of the Republic of Türkiye in its press release of 12 November 2020 that makes 24/7 money transfers possible.
E-commerce
AI agents are moving beyond answering questions to searching, deciding, and paying on behalf of users. This post explains Agentic Commerce and what it means for payment systems, digital wallets, e-money institutions, banks, and fintechs.
Contactless
A TR Karekod transaction is a payment carried out using a QR code generated according to the procedures and principles in the regulation on the generation and use of the TR Karekod in payment services.
Merchant & POS
Dynamic verification means that, in a payment initiated with a dynamic QR code, transaction-specific details such as the recipient's name, account number and amount are verified online by the receiving participant at the time of the transaction.
FAST
Current information: This post describes the limit in effect at the time of publication. The FAST transaction limit, introduced in January, was raised periodically and reached 1,000 TL as of January 29. See the newer post for the current FAST limit.
Credit Card
Payment systems are changing fast, and new players are emerging. The Advantage Card, the first installment credit card in Turkey and Europe, did not come from a bank, which holds lessons for today's fintech entrepreneurs.
Merchant & POS
In e-commerce transactions, the system developed to increase transaction security for payments made with credit and debit cards is called 3D Secure. When paying with 3D Secure, a special payment screen provided by the banks appears on the user's screen.
Open Banking
EPSM is a non-profit trade association that represents its members' interests and enables the exchange of news, information and opinions about the European payments market.
HSM & Security
PA-DSS (Payment Application Data Security Standard) is the Payment Application Data Security Standard set by the PCI SSC, a global security standard created by the Payment Card Industry Security Standards Council.
Credit Card
In the world of payment systems, just as credit cards are an indispensable product, a payment scheme is indispensable for credit cards. When a credit card product is launched, the scheme it will be issued under is decided first.
HSM & Security
The CPoC standard, issued by the PCI Security Standards Council in 2019, is a data security standard that lets merchants accept contactless payments using a commercial off-the-shelf (COTS) mobile device with NFC.