ATM
What Is a Recycling ATM?
The word literally means recycled or circulating. In payment systems, it refers to physically dispensing money deposited at ATMs to customers who want to withdraw cash, adding deposits straight into the withdrawal pool.
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"international payments"
66 articles found
Merchant & POS
What Are POS Sub-Protocols and Their Use Cases in Turkey?
In payment systems, every exchange between POS devices and bank or payment institution systems runs on a specific messaging standard, generally based on ISO 8583. However, each country, bank, or switch network defines its own version of this standard.
Payment Systems
MASAK Report Published on Money Laundering and Terrorist Financing Risks of Non-Financial Obliged Parties Under Law No. 5549
MASAK has published a report on the money laundering and terrorist financing risks of obliged parties that are not financial institutions under Law No. 5549.
Payment Systems
Can Foreign Payment Institutions Operate in Türkiye?
All payment and electronic money institutions operating in Türkiye fall under the relevant regulation. A license from a foreign authority is not enough; a foreign institution must obtain a license from the Central Bank.
Laws & Regulations
Regulation Amending the Regulation on Program of Compliance with Obligations of Anti-Money Laundering and Combating the Financing of Terrorism Published
The Regulation amending the Regulation on Program of Compliance with Obligations of Anti-Money Laundering and Combating the Financing of Terrorism has been published. It introduces financial group compliance rules, a deputy compliance officer and wider scope.
Payment Systems
What are Payment Systems?
Let's talk about payment systems, which we have heard more about since the internet entered our lives, and the basic structures behind them. The first credit card in the world was used in America in the 1920s.
Merchant & POS
Is a Transaction Made by Swiping the Magnetic Stripe of a Chip Card Always a Fallback Transaction?
It's important to first distinguish between magnetic-stripe and fallback transactions. A magnetic-stripe transaction skips the chip entirely, which lowers its security level compared to a fallback transaction.
Payment Institutions & E-Money
What Is the Circular on the Report Format under Article 8 of the Regulation on Payment Services and E-Money Issuance and Payment Institutions and E-Money Institutions? How Can It Be Accessed?
Under Law No. 6493, payment institutions and e-money institutions may operate only with BRSA permission. This post explains the BRSA circular on the format of the independent audit report required with operating permit applications under Article 8 of the Regulation, and where to find it.
Credit Card
Apple Is Rewriting the Card World...
Most of us remember the impact the first iPhone, introduced by Steve Jobs on January 9, 2007 and revolutionary for its time, had on our lives. In a similar way, a product that will completely change how we use and view credit cards...
Security
What Is a Quarterly Network Scan?
An external network scan run every 3 months by an Approved Scanning Vendor authorized by card schemes such as MasterCard and Visa, required for PCI DSS compliance. It checks whether merchant systems are protected against external threats.
Online & Authorization
What are EMV Tags?
In EMV, data is stored in Tag-Length-Value (TLV) format, and it is carried between the card, the POS terminal, and the authorization system in this same format. This post lists every EMV Tag, its type, and its description.
Credit Card
Where are the Troy and Discover logos printed on Discover-enabled Troy cards?
Troy is Turkey's national payment system scheme, short for "Turkiye's Payment Method." When Troy cards first launched, they could only be used domestically. A partnership with Discover later made it possible to use Troy cards abroad as well.