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Payment Systems
All electronic money institutions are authorized to issue electronic money under Law No. 6493. The payment services each one is licensed to offer are listed in the table published by the CBRT.
Credit Card
Yes. Banks may reject limit increase requests based on their assessment of a person's economic and social situation, credit score and similar information.
Credit Card
Yes. Your credit card limit can be reduced without your permission and approval. Banks may set a lower limit as a result of updates based on a person's economic and social situation, credit score and similar information.
Laws & Regulations
Law No. 7192 amends certain articles of Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions. Announced on 22 November 2019, it entered into force on 01.01.2020.
ATM
The units that let an ATM receive data are called Input Units, and the units that display data are called Output Units. Learn about the card reader, keypad, speaker, display, receipt printer, and cash dispenser.
Chargeback
A soft chargeback, also called a retrieval request, is a request for documents about a transaction the cardholder does not recognize. Learn why customers request them, what information merchants should provide, and why a fast response matters.
Laws & Regulations
Under the regulation on banks' information systems and electronic banking services, from 1 July banks may send statements, receipts and account summaries containing sensitive data only through electronic banking channels, not by email or SMS.
FAST
With the Easy Address system, your email address has become more important. If an email address linked as an Easy Address is closed, the bank should be notified, the outdated definition deleted and current details registered again.
FAST
The Easy Addressing System (KOLAS) is one of the layered services of FAST, the Central Bank's instant funds transfer system, developed and operated by BKM. It lets users send money via phone number or email instead of an IBAN.
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.
E-commerce
Amazon PayCode is a payment option that lets customers pay for Amazon orders in cash: after checkout they receive a code and pay at a participating Western Union agent location.
Payment Institutions & E-Money
The Law defines e-money as monetary value issued in exchange for funds accepted by the issuer, stored electronically, used for payment transactions and accepted as a payment instrument by persons other than the issuer. This post explains e-money institutions and the services they may provide.