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Payment Systems
mPOS is short for Mobile POS, a digital POS solution that enables payment acceptance via smartphones/tablets without a standard POS terminal. It is formed by combining a card reader with a mobile device such as a smartphone or tablet...
Credit Card
A digital wallet is an electronic wallet where credit, debit, or prepaid cards are registered in one place. Cardholders can securely add, store, update, and delete card details, then pay with a single click.
Online & Authorization
Electronic Commerce Indicator (ECI) is a 2-digit value generated by payment schemes (Visa, MasterCard, etc.) in 3D Secure transactions to determine the transaction's security level (Full 3D Secure, Half 3D Secure, Non 3D Secure), and it varies by payment scheme.
Payment Systems
The Interbank Card Center (BKM) shared its data for the first 6 months of 2021: card payments totaled TRY 709 billion, online card payments reached TRY 188 billion, and the number of contactless payments tripled year on year.
Online & Authorization
Below are the EFT codes of banks located within Turkey, which are used both during the payment systems authorization stage (Field 32) and in banking transactions.
Credit Card
While the use of physical cards and POS terminals is gradually declining, positive developments continue, such as the world's first wooden card, TreeCard, backed by the search engine Ecosia and aimed at reforesting the world.
Merchant & POS
The PCI Security Standards Council (PCI SSC), founded in 2006 by Amex, Discover, JCB, Mastercard and Visa, has shared its data security and testing standard for accepting contactless payments on smartphones and tablets without extra hardware.
Laws & Regulations
The purpose of Law No. 6493 is to regulate the procedures and principles for payment and securities settlement systems, payment services, payment institutions and electronic money institutions.
E-commerce
In recent years, data exchange over wireless mobile devices has become much faster and more secure. In 2019, mobile devices were used in 54.5 percent of purchases made by e-commerce users. With the steady growth in mobile users, mobile commerce keeps gaining ground.
3D Secure
Isbank (Turkiye Is Bankasi) has completed Europe's first migration to EMV 3D Secure 2.0, the current version of the 3D Secure authentication infrastructure used to verify cardholders in online card purchases. Deputy General Manager...
Credit Card
American Express, Discover, Visa and Mastercard have started working together on an infrastructure that lets leading US e-commerce sites accept one-click payments, so shoppers no longer need to type in all their card details.
Closed-Loop Payments
Why does a coffee chain build its own loyalty program, and why does a payment app keep adding services? This post looks at how loyalty, data, and new services drive the growth of closed-loop payment systems, and at the financial layers behind that growth.