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Payment Systems
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.
Payment Systems
Strong Customer Authentication (SCA) is a security requirement introduced under the EU's Payment Services Directive 2 (PSD2) to increase security and reduce fraud in online payment transactions. SCA requires two of three independent authentication factors.
Payment Institutions & E-Money
Payment and electronic money institutions have achieved a lot recently in market share and the momentum they have brought to the industry. Here is where to find a list of payment facilitators worldwide.
Merchant & POS
The Secure Mobile Payment System is a system permitted by the Ministry, operated under the Revenue Administration (GIB) Communiqué, for sales, payment and collection transactions and the electronic creation, transmission and retention of the related financial documents.
Merchant & POS
Financial institutions, cash register (OKC) manufacturers, and private integrators run this Ministry-authorized system under Communique No. 507 on the Tax Procedure Law, enabling mobile sales with electronic financial documents.
Laws & Regulations
This communiqué regulates how payment and electronic money institutions manage their information systems, how authorized independent auditors audit them, and the data sharing services of payment service providers.
Merchant & POS
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.
Payment Systems
The communiqué on the information systems of payment and electronic money institutions and the data sharing services of payment service providers was published in Official Gazette No. 31676 on 01.12.2021 and entered into force.
Merchant & POS
A Collection POS is a secure, web-based payment platform through which businesses and institutions manage their collections and generate the reports they need. Many similar products exist on the market under different names.
Clearing
Clearing: the transmission of transfer orders sent to the system, mediating their mutual delivery, obtaining authorization prior to settlement in some systems, and netting payment orders.
Laws & Regulations
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.
Laws & Regulations
The purpose of this Law is to protect competition by preventing agreements, decisions and practices that restrict competition in goods and services markets, and the abuse of dominance by dominant undertakings.