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Payment Systems
As FAST usage keeps growing, new CBRT regulations are accelerating it further. Payment and e-money institutions will join FAST directly in 2023, and FAST Merchant Payments using the TR-QR Code will go live in the first quarter of 2023.
Payment Systems
Soft POS is a POS application that lets merchants accept payments from contactless cards or mobile wallets on Android devices, without needing a physical terminal. Companies market it under various names such as pocket POS or mobile POS.
Open Banking
API, used as an abbreviation for Application Programming Interface, is an interface that allows an application's functions to be accessed and used from outside or remotely, letting a server application be reached from different platforms.
Clearing
YTH stands for Yurtiçi Takas Hesaplaşma (Domestic Clearing and Settlement), the general name of the clearing system managed by BKM. In the clearing system, prefix values are held in fields F32, F93, F94 and F100.
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.
Credit Card
This communiqué sets the rules for managing information systems used in bank card and credit card transactions. Card scheme operators, issuers, acquirers, merchants and outsourced service providers are all within its scope.
Payment Systems
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.
Payment Systems
PCI Point of Interaction (POI) was introduced to minimize risk in card transactions. PCI POI Security Requirements cover physical and logical security for both online and offline PIN entry devices (PED) and secure card readers.
Payment Institutions & E-Money
VUK 507 is the common name of Tax Procedure Law General Communique Serial No. 507, published in the Official Gazette on 1/6/2019 on the Secure Mobile Payment and Electronic Document Management System. It sets the rules for sales, collection and electronic document applications.
ATM
ATM maintenance is essential for ATM longevity. SLM (Second Line Maintenance) covers repairs that require a toolkit and part replacement, usually without access to the ATM safe, while FLM handles simpler cash and consumable tasks.
HSM & Security
White Box Cryptography (WBC) is an important technology used to minimize security risks for open devices such as smartphones. It is a new technique against attacks targeting white-box attack environments.
E-commerce
Alternative payment systems are services from intermediary companies that use virtual POS accounts in the background to benefit merchants. Law No. 6493 calls them payment institutions. This article compares them with bank virtual POS accounts.