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Laws & Regulations
A rule-based method has been adopted for setting the maximum interest rates on credit card transactions, using a reference rate based on banks' weighted average deposit rates plus 55 basis points. This post summarizes the method and the rates effective 1 November 2020.
Security
Access Security Control (ACS) is the security protocol that the card-issuing bank must maintain under the 3-D Secure protocol to support cardholder authentication. 3-D Secure is an XML-based protocol that adds an extra security layer to online card payments.
Security
Access Security Control (ACS) is the security protocol that the card-issuing bank must maintain in 3-D Secure to support cardholder authentication, functioning as a complete authentication solution for issuers and payment processors.
Security
A Qualified Security Assessor (QSA) is approved by the PCI Security Standards Council to audit merchants for PCI DSS compliance. The lists of QSA and ASV companies are published on the Council's website.
Merchant & POS
A reader asked whether installment mail order transactions are still possible, and whether a card limit equal only to the installment amount is enough. This article shares the answer.
E-commerce
In recent years, data exchange over wireless mobile devices has become much faster and more secure. In 2019, mobile devices were used in 54.5 percent of purchases made by e-commerce users. With the steady growth in mobile users, mobile commerce keeps gaining ground.
Payment System Institutions
According to the CBRT's official website, the Central Bank of the Republic of Turkey has become the controlling shareholder of the Interbank Card Center (BKM), using the authority granted by Law No. 7192.
E-commerce
BKM Express has pioneered card storage and digital wallets in Turkey. After the Competition Authority's termination decision, a Board decision revoked it, so BKM Express will continue. Here is the latest situation.
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.
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.
Payment Systems
B2B and B2C are collaboration models used in e-commerce transactions. This post explains what each term means and compares them in terms of customer, purchasing, sales and marketing.
Laws & Regulations
In Türkiye, banks within the scope of Banking Law No. 5411 and electronic money institutions licensed under Law No. 6493 can issue electronic money.