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Credit Card
Credit cards are undoubtedly the most important payment tool for most of us when shopping. So what stages does a credit card or debit card go through before it reaches our pocket? The customer submits a card application request, and the process continues from there.
Payment Systems
Published in the Official Gazette of 25.11.2022, six days before the Transition Period ended, an amending Regulation and Communiqué extended the transition period for some obligations of payment and e-money institutions from 01.12.2022 to 28.02.2023.
Fraud
Chargeback is the process of refunding a credit card payment when the goods or services that should have been received were not, or when transactions not made by the cardholder are identified. In Turkish it is translated as reversal of presentment.
Security
SCRW (Smart Card Reader Writer) can be translated as Smart Card Reader/Writer. Smart chip card readers are sophisticated devices with built-in intelligence, usable in PCs, laptops, servers, smartphones, and set-top boxes.
HSM & Security
TMK stands for Terminal Master Key, a key-encrypting key distributed manually or automatically under a previously established TMK. It is used to distribute data encryption keys to an ATM or POS terminal within a local network.
Credit Card
Payment systems statistics are reported periodically by the Interbank Card Center (BKM), including total card count, total card turnover, and the growth trend of the card world in the period.
Payment Systems
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).
Payment Institutions & E-Money
The Law defines e-money as monetary value issued in exchange for funds accepted by the issuer, stored electronically, used for payment transactions and accepted as a payment instrument by persons other than the issuer. This post explains e-money institutions and the services they may provide.
E-commerce
With the growth of the internet and its global reach, companies have increasingly begun to deliver their products to more people in foreign markets through online channels. This gives sellers an advantage beyond the domestic market and gives consumers wider access to products.
Fraud
In payment systems, fraud means using someone else's credit or debit card to carry out a transaction at a merchant or ATM, gaining unfair profit and causing loss to the real cardholder, the merchant, or the bank. Fraudsters…