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Open Banking
NextGenPSD2 is the set of API standards launched by the Berlin Group in 2017, now involving more than 1,700 banks from 20 countries. This post explains what the framework offers to banks, fintechs and third-party providers under PSD2.
Open Banking
Digital banking is talked about more every day, and with the BRSA's support in defining its scope, it is about to enter our lives. A 'digital bank' is a credit institution that provides banking services mainly through electronic channels rather than physical branches.
Payment Institutions & E-Money
VUK 507 is the common name of Tax Procedure Law General Communique Serial No. 507, published in the Official Gazette on 1/6/2019 on the Secure Mobile Payment and Electronic Document Management System. It sets the rules for sales, collection and electronic document applications.
Credit Card
KKB (Credit Registration Bureau) is a private company established in 1995 under Banking Law No. 5411 with nine bank shareholders, sharing credit information among member institutions.
Payment Institutions & E-Money
The duties of the Payment Systems and Financial Technologies Department, set up within the CBRT Head Office, have been defined, along with the directorates it consists of.
Laws & Regulations
Under the Directive, payments made through telecom operators cover the purchase of digital services such as music, digital newspapers, e-tickets or charity donations, within certain amount thresholds.
Payment Institutions & E-Money
5 August 2021 was a very important day for Turkish payment systems. The CBRT's amendment to the Communiqué on the International Bank Account Number (IBAN) allows payment institutions and e-money institutions to create IBANs as well. This is...
Security
The number of companies offering cloud computing and storage has grown sharply in recent years. AWS, founded in 2006, is the world's largest cloud computing and storage provider, ahead of Google Cloud, Microsoft Azure and IBM.
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.
Payment System Institutions
These are credit institutions providing financing to individuals and companies for purchasing goods and services. Financing companies specialize mainly in vehicle loans, offering fast and flexible point-of-sale solutions distinct from banks.
Merchant & POS
Financial institutions, cash register (OKC) manufacturers, and private integrators run this Ministry-authorized system under Communique No. 507 on the Tax Procedure Law, enabling mobile sales with electronic financial documents.
ATM
ATMs are important transaction points that let customers handle financial transactions without visiting a bank branch. 24/7 availability matters for customer satisfaction, so banks take steps to reduce both operational and cash costs.