Payment Institutions & E-Money
What Is ÖDED?
ÖDED (Payment and Electronic Money Association) is the only industry association representing the payment and electronic money institutions operating in Türkiye under Law No. 6493.
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"supervision"
45 articles found
Credit Card
What is an installment?
An installment is when a credit card transaction is split into a fixed number of monthly payments to the bank. For example, splitting a 100 TL purchase into 5 installments means paying the bank 20 TL per month until the full amount is paid off.
Laws & Regulations
The Regulation on the Accessibility of Banking Services and What It Contains
The articles of the Regulation on the Accessibility of Banking Services are listed below. Published in the Official Gazette on 18 June 2016 (issue 29746), banks must strictly comply with them. PART ONE Purpose...
Merchant & POS
2 Turkish Banks Agreed to Accept the Mir Payment System
In Turkey, there are 3 payment schemes we are used to seeing: MasterCard, Visa, and Troy. American Express and Diners Club are also used, though less widely. Russia's Central Bank recently said two Turkish banks are preparing to accept Mir cards.
Merchant & POS
How Will the Decision on 4 Installments for Crafted Gold Sales Be Managed?
The BRSA announced it would allow 4 credit card installments for crafted gold jewelry, but not for coins or bullion. Since a jeweler sells both, how will the rule actually be enforced?
Merchant & POS
What is the Personal Data Protection Law (KVKK)?
The Personal Data Protection Law was adopted by the Grand National Assembly of Turkey on 24/03/2016 and published in Official Gazette No. 29677 on 07/04/2016. It protects individuals' rights in the processing of personal data and sets the rules that data controllers must follow.
Laws & Regulations
What Is Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions? What Does It Cover?
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.
Merchant & POS
Mobile Phones Are Turning Into POS Devices
With advances in technology, mobile phones can now be used for many functions besides calls and internet access. One such innovation is the ability to use smartphones or tablets as POS devices.
Credit Card
What is the maximum number of installments I can make with a credit card?
The number of installments allowed varies for personal and corporate cards. A regulation by the Banking Regulation and Supervision Agency (BRSA), published in Official Gazette No. 30510 on 15.08.2018, set the installment limits that apply today.