Merchant & POS
How Can I Find the Number of POS Terminals, ATMs and Cards in Türkiye?
The number of POS terminals, ATMs and cards in Türkiye is reported by BKM and updated monthly. Here is the link and how to read the figures.
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Payment System Institutions
What Are BKM Public Collection Solutions?
BKM (Interbank Card Center) was founded in 1990 to clear and reconcile credit and debit card payments. This post covers its public collection solutions: contactless transport in Konya, SGK premium payments and e-Government gateway fees.
Payment Systems
What are the Visa and MasterCard product codes?
Below is information on the products found in the Visa and MasterCard systems and their associated product codes, listed under Product ID (cardProductId).
Payment Systems
What is the Card Type Information Used in the Visa System?
Card type information is used in card schemes such as MasterCard, Visa, and TROY. The card types and card type codes used in the Visa system include Credit, Prepaid, Debit, Deferred Debit, and Charge Card.
Laws & Regulations
What Is a Card Scheme Organization?
A card scheme organization establishes a debit, credit or prepaid card system and authorizes entities to issue cards or sign merchant agreements. Troy, Visa, Mastercard, American Express, JCB and MIR are examples. This post explains how ATM and POS certification works.
Laws & Regulations
Which Institutions Can Issue Electronic Money in Türkiye?
In Türkiye, banks within the scope of Banking Law No. 5411 and electronic money institutions licensed under Law No. 6493 can issue electronic money.
E-commerce
How Are Payment Services Related to Electronic Money Issuance Taxed?
Expenditure Taxes General Communiqué No. 91 ended the VAT versus BSMV debate for payment and e-money institutions. Under Article 7, e-money institutions pay BSMV on the commissions they collect.
Merchant & POS
How Are Taxation and the Tax Base Determined for Payment Services Related to E-Money Issuance?
When payment and e-money institutions were first set up, their commissions were subject to VAT, but BSMV was also debated. General Communiqué on Expenditure Taxes (Serial No: 91) settled the issue; here is how the tax base is determined.
Laws & Regulations
Some Powers of the BRSA Transferred to the CBRT
Turkey is rapidly implementing the items in the 11th Development Plan for a fintech ecosystem with equal opportunity. Under the approved law amendment, some BRSA powers over payment services and e-money companies were transferred to the CBRT, making it the single authority in payments.
Credit Card
What Is a Wallet?
The term 'wallet' has many definitions in payments and fintech. In general, it refers to digital wallets (e-wallets) used in e-commerce, popular because they let users securely store payment information and pay easily.
Merchant & POS
What is Digital Payment?
Payments made over the internet are called digital payments. Card payments, cryptocurrency, and online banking transfers all fall within the scope of digital payment, along with mobile wallets and QR code payments.
Credit Card
Can Both Chip and Magnetic Stripe Cards Be Issued Under the Same BIN?
It may sound impossible at first, but it is technically possible: a bank can issue chip debit cards under the same BIN as its magnetic stripe cards, with the card scheme's approval.