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FAST
Request to Pay lets users request payment from people who owe them money through a banking application. The CBRT has expanded the FAST Request to Pay Overlay Service so that corporate users can also use it.
Laws & Regulations
The Visa Core Rules and Visa Product and Service Rules documents define the fundamental rules that apply to all institutions in the Visa network. They are updated regularly, and all members are expected to follow the latest version.
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.
Payment System Institutions
MASAK General Communiqué No. 19, which sets the procedures and principles for remote identity verification methods used to verify customer identity, was published in the Official Gazette on 30 April 2021.
Credit Card
The payment card industry is arguably the sector most affected by technology and the quickest to adapt new developments. With mobile devices, payment systems have changed a lot - we now prefer using our credit cards virtually rather than physically.
Payment Institutions & E-Money
The “Review Report on Financial Technologies in Payment Services”, prepared after a study launched on 9 November 2020 to assess Türkiye's payments fintech ecosystem and its effects on competition, has been published.
Security
Vishing is a method of deceiving the victim using voice. It replaces the "p" in phishing with the first letter of "voice," meaning "voice deception." It is reinforced by technology in social engineering cases to extract information more easily.
Open Banking
Embedded Finance means integrating financial products and services into non-financial platforms, experiences or business processes. In other words, services offered by financial institutions become part of the product or service flows of non-financial organizations.
Credit Card
With the advancement of technology, the use of credit cards in online transactions and the variety of payment methods have increased. To make an online transaction with a credit card, you need: Card Number, Expiration Date, and CVV2 (the 3-digit number on the back of the card).
Merchant & POS
There are many players in the POS and OKC (Payment Recording Device) market in Turkey. Some of these companies are foreign, while others are domestic. Let's get to know these companies: Ingenico, Verifone, Interpay (PAX), and more.
Agentic Commerce
The next customer on the internet may not be human. If AI agents become part of purchasing decisions, the rules of e-commerce, marketing, and payment systems could change.
Credit Card
A credit card is one of the most important payment tools in our lives, which is why keeping it secure is extremely important. So how do we secure a credit card? The most important security measure is the card PIN.