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Credit Card
A credit card number created based on a credit card, not physically printed, usable in all virtual purchases (mail order, e-commerce, etc.). It is generated instantly upon request, usable right away, created with a zero limit, and free of charge.
Merchant & POS
Doctor POS devices are POS terminals designed for physicians, dentists, and veterinarians who are income taxpayers, meeting the requirements set out in the General Communique of the Tax Procedure Law (VUK).
Merchant & POS
Below are the definitions of the cornerstone terms of payment systems, as established by the Banks Association of Turkey (TBB): debit card, credit card, merchant, cardholder, and more.
Closed-Loop Payments
Why does a coffee chain build its own loyalty program, and why does a payment app keep adding services? This post looks at how loyalty, data, and new services drive the growth of closed-loop payment systems, and at the financial layers behind that growth.
Merchant & POS
Visa's Merchant Data Standards Manual covers classification, identification and data standard requirements for merchants, payment facilitators and marketplaces, including merchant naming, location and MCC rules. Here is what it contains and where to find it.
Merchant & POS
In payment systems, every exchange between POS devices and bank or payment institution systems runs on a specific messaging standard, generally based on ISO 8583. However, each country, bank, or switch network defines its own version of this standard.
Payment Systems
Under the EU Digital Markets Act, Apple will let third-party developers in the European Economic Area offer NFC contactless payments inside iOS apps without Apple Pay or Apple Wallet, opening the way for banks and payment services to launch their own tap-to-pay solutions.
Payment Systems
Official Gazette No. 32332 dated 07.10.2023 published the amending Regulation and Communiqué covering digital wallets, e-money, share transfers, cloud outsourcing, remote identity verification and card system choice.
FAST
The upper limit for FAST transactions, which enable fast money transfers between banks, was raised to 50,000 TL per transaction as of 21 December 2023.
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.
Payment Systems
You can access the regulations on the Bank Cards and Credit Cards Law on the BRSA website. The regulations are updated as new ones are introduced.
Payment Systems
The BRSA has published a draft amendment to the regulation on remote identification methods used by banks and electronic contract relationships. It extends remote onboarding to legal entities, including MERSIS-based verification of representatives.