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Laws & Regulations
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
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.
Prepaid Cards
Prepaid cards are among the most popular cards right now, and their use keeps growing. A prepaid card is not linked to a bank account, has no credit limit like a credit card, and can be used up to the amount loaded onto it.
Credit Card
A credit card is a card whose limit the bank sets after evaluating the customer against criteria such as income, payment history, and credit bureau score.
Credit Card
Pre-authorization reduces the merchant's risk by blocking part of the card's limit for a set period. Since a credit card has a defined limit, an amount can be blocked against it. ATM cards and prepaid debit cards have no such limit to block.
Credit Card
A prepaid card is a customized chip or chipless card that is not linked to a bank account and has no credit limit like a credit card. You can only spend up to the amount loaded onto the card.
Merchant & POS
Digitalization has brought major change to payment systems, just as it has to every area of our lives. Its biggest impact has been turning the financial world into something virtual, spanning IoT, mobile payments, blockchain and biometrics.
ATM
Cash overage and cash shortage are terms used in any system that operates with a cash account. A cash overage means more money is physically present than the ledger indicates; a cash shortage means less. In payment systems, these terms are most often used for ATMs.
ATM
One of the most important things to watch when using an ATM is PIN security. Since ATMs handle customers' cash transactions, it is no surprise they are prime targets for fraudsters.
Credit Card
Card-to-Card Money Transfer (CCMT) lets customers send money 24/7 from a credit, debit, or prepaid card to another card via ATM, internet banking, call center, or mobile app.
Clearing
DE03/Reimbursement Attribute carries the Reimbursement Value of a transaction. BKM uses this information as the basis for calculating interchange fees and charges between member banks.
Credit Card
When payment systems come to mind, credit cards are usually the first thing people think of. Credit cards are produced according to specific standards, both in visual design and during printing. These standards belong to the ISO/IEC 781X family.