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FAST
To offer the Easy Address service, an institution needs approval from the Central Bank of the Republic of Türkiye (CBRT), documented eligibility to participate in FAST or EFT, and completed administrative and technical processes with BKM.
Credit Card
If you miss the minimum payment three times in a calendar year, your card is closed to cash use; if you miss it three times in a row, it is closed to both cash use and purchases until the full debt is paid.
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.
Laws & Regulations
The purpose of this regulation is to set the procedures and principles for the operating licenses and activities of the operators of payment and securities settlement systems.
Security
A Qualified Security Assessor (QSA) is approved by the PCI Security Standards Council to audit merchants for PCI DSS compliance. The lists of QSA and ASV companies are published on the Council's website.
Laws & Regulations
The purpose of this Law is to protect competition by preventing agreements, decisions and practices that restrict competition in goods and services markets, and the abuse of dominance by dominant undertakings.
Security
In payment systems, personalized security credentials are information such as the PIN, card/account/e-money details, expiry date and security code (CVV) that identify the payment instrument and its user.
Payment Institutions & E-Money
Bill payment intermediation is a payment service under Law No. 6493. Only the CBRT and payment service providers, namely banks, electronic money institutions, payment institutions and PTT, can offer it.
Laws & Regulations
The information and documents required in license applications to provide payment services or issue electronic money in Türkiye are listed in the first and second paragraphs of Article 8 of the Regulation.
Laws & Regulations
No. Under Law No. 6493, a payment system is a structure completely different from a payment institution and requires CBRT permission. Using such a name without permission can lead to criminal penalties.
Laws & Regulations
No. Bitcoin is not issued by any public or private institution and has no guaranteed backing, so it is not considered electronic money under Law No. 6493 and cannot be supervised under that Law.
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.