ATM
Why Does an ATM Swallow Your Card?
ATMs make many banking transactions faster and easier, but like any electronic device they can run into trouble, including swallowing your card. Here is why it happens and what to do.
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Payment Systems
BRSA Publishes Draft Regulation Amending the Regulation on Debit Cards and Credit Cards
The BRSA has published a draft regulation amending the Regulation on Debit Cards and Credit Cards. It introduces the card scheme definition, a customer right to choose the card scheme, and an obligation for acquirers to define licensed schemes on merchant POS devices.
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.
Laws & Regulations
What Is the MASAK Suspicious Transaction Reporting Guide?
This guide sets out the procedures and principles for reporting suspicious transactions for obliged parties other than the groups individually listed in the AML regulation, such as banks and insurers.
ISO 8583
ISO 8583 Field Descriptions (F47)
F47-ADDITIONAL DATA (NATIONAL) is the field reserved for domestic additional information. In Turkey, it carries the BKM Unique ID in authorization transactions and data specific to KKPT (card-to-card transfer) transactions.
EMV
What is an Application Identifier (AID)?
The AID tells the terminal which applications are present on a chip during a POS or ATM transaction. What does the AID do? It lets the terminal determine whether it supports an application on the chip. In Tag 9F06, it is 5-16 digits long.
Payment Systems
What Is ISO/TC 68?
ISO/TC 68 is a technical committee within the International Organization for Standardization in Geneva, responsible for developing and maintaining international standards for banking, securities and other financial services.
EMV
What is a Bank Identifier Code (BIC)?
BIC stands for Bank Identifier Code. It is the universal bank identification code used for automated processing in banking and related financial environments, identifying banks as specified by the ISO 9362 standard.
Credit Card
What is PCI DSS (Payment Card Industry Data Security Standard)?
The Payment Card Industry Data Security Standard (PCI DSS) is a technical and operational standard created by the PCI Committee, formed by internationally recognized payment brands, to ensure data security in card payment systems.
Payment Systems
I Want to Establish an E-Money Institution in Turkey. How Should I Start?
Let's start by defining e-money. In general terms, e-money is a monetary value stored on a secure technological device (such as a computer disk). E-money is a concept defined under Turkish law through legislation enacted by the BRSA (BDDK).
Courier & Delivery
Is It More Sensible to Integrate with the Courier via Web Service or File Transfer?
Although some banks use web service integration, banks generally handle card distribution with couriers through file exchanges, with information sent within the service instead.
Payment Systems
What is Takasbank?
Takasbank (Istanbul Settlement and Custody Bank) exists to increase the competitiveness of Turkey's markets by providing clearing and custody services, financial services, and other economic activities under the relevant legislation.