Merchant & POS
What Is an MCC (Merchant Category Code)?
MCC stands for Merchant Category Code: a 4-digit code used to classify merchants by business type. Codes differ slightly between Mastercard, Visa, and BKM.
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"Card Fees"
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Chargeback
What Is Compliance (Regulatory Compliance)?
Compliance means adherence to card scheme rules. Outside chargebacks, it is how a bank that loses money because card payment organization rules were broken recovers that amount from the party that caused the loss.
Merchant & POS
What is the CAT (Cardholder Activated Terminal) Indicator?
CAT (Cardholder Activated Terminal) devices are typically unattended terminals that accept various payment cards. These terminals are frequently installed at railway ticket stations, gas stations, toll roads, parking lots, and other commercial locations.
Merchant & POS
What Are Onsite/Offsite ATMs?
ATMs, which once only let customers withdraw cash from their accounts, have now turned into a channel where almost all branch transactions can be performed, and these functions keep growing year after year. So, are there different types of ATMs...
Payment Systems
What is BNPL (Buy Now, Pay Later)?
The term 'Buy Now, Pay Later' (BNPL) refers to deferring payment on a purchase to a later date. The product is delivered to the customer before any payment is made, and the customer pays afterward.
ATM
Are Fees Charged for ATM Transactions Between Public Banks?
With a protocol signed on 04.04.2018, Türkiye's public banks launched the “Free Shared ATM Use” system, allowing their customers to use each other's ATMs free of charge for many transactions.
Credit Card
What is an installment?
An installment is when a credit card transaction is split into a fixed number of monthly payments to the bank. For example, splitting a 100 TL purchase into 5 installments means paying the bank 20 TL per month until the full amount is paid off.
Merchant & POS
What is VPOS (Virtual POS)?
VPOS (Virtual POS) is the software-based, security-enhanced equivalent of the physical POS devices used for card payments at merchants, used for purchases made over the internet. It is also known as Virtual POS. VPOS is not issued to individual customers.
Merchant & POS
What Is Virtual POS?
Virtual POS is the software-based, security-enhanced equivalent of the physical POS devices used for card payments at merchants, designed for online shopping. It is not issued to individual customers, only to sole proprietorships, companies, or foundations and associations.
ATM
Transactions You Can Make at an ATM
Moving branch transactions to channels such as ATMs, internet banking and mobile banking lowers banking costs, so almost every transaction can now be done through them. Here is what ATMs offer.
Merchant & POS
What Is a POS (Point of Sale)?
Virtual or electronic authorization devices connected to a bank, used by merchants to accept card payments. The term comes from the English phrase Point of Sale. Covers POS types by communication method, their advantages, who can use one, and the transactions a POS can perform.
Payment Institutions & E-Money
What Is an E-Money Institution? Which Services Can It Provide Under Law No. 6493?
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.