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Payment Institutions & E-Money
Innovations in payment systems continue. The CBRT's Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers was amended and published in the Official Gazette, with new minimum equity requirements and activity restrictions.
Laws & Regulations
The purpose of this regulation is to set the procedures and principles for the operating licenses and activities of the operators of payment and securities settlement systems.
Payment Systems
An amendment was made to the communiqué on the information systems of payment and e-money institutions and data sharing services, setting 31/3/2025 as the deadline for other payment service providers' obligations.
Payment Systems
Payment systems need laws and regulations to be managed according to set standards. BKM, a reference point for payment systems in Türkiye, lists the relevant laws and regulations on its website.
Payment Systems
New-generation payment recording devices (ÖKC) now play an important role for businesses and sole proprietors. The Revenue Administration's site covers both the legislation and usage details.
Merchant & POS
The number of POS terminals, ATMs and cards in Türkiye is reported by BKM and updated monthly. Here is the link and how to read the figures.
Payment Institutions & E-Money
According to ÖDED, its members are institutions that have applied for or received a license as a payment institution and/or electronic money institution under Law No. 6493. The member list by field of activity is on its website.
Payment Institutions & E-Money
On 7 October 2023, the CBRT amended the Communiqué on Information Systems of Payment and E-Money Institutions and Data Sharing Services of Payment Service Providers, first published on 1 December 2021. Links to the new text, a comparison table and a detailed summary of changes follow.
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.
Payment Institutions & E-Money
5 August 2021 was a very important day for Turkish payment systems. The CBRT's amendment to the Communiqué on the International Bank Account Number (IBAN) allows payment institutions and e-money institutions to create IBANs as well. This is...
Payment Systems
Every payment transaction completes in seconds, yet dozens of controls run behind the scenes. This post covers the precautions for authorization and clearing, the critical role of reversals, and the financial loss scenarios most often seen in the field.
Debit Card
A type of smart card containing a microchip and simple software, which performs contactless reading when brought close to a smart card reader. It isn't linked to a bank account and has no credit limit like credit cards. You can spend up to the amount loaded onto the card...