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Payment Institutions & E-Money
Payment and electronic money institutions have achieved a lot recently in market share and the momentum they have brought to the industry. Here is where to find a list of payment facilitators worldwide.
Laws & Regulations
The Law lists services for intermediating bill payments as a payment service, but it uses no terms such as “bill payment center”. These services can be provided by licensed payment institutions and electronic money institutions.
Laws & Regulations
No. Under Law No. 6493, a payment system is a structure completely different from a payment institution and requires CBRT permission. Using such a name without permission can lead to criminal penalties.
Merchant & POS
A Payment Facilitator (PF) is a licensed payment institution that lets merchants accept card payments without applying to banks directly. Learn how it works.
Payment Institutions & E-Money
Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions defines a payment instrument as a personalized device such as a card, mobile phone, or password.
Payment Systems
ETBİS (Electronic Commerce Information System) is the system launched on 04/12/2017 so that e-commerce businesses are reachable and e-commerce data can be tracked reliably. Businesses must register before starting.
Payment Institutions & E-Money
The Central Bank (CBRT) approved the Crowdfunding System Activity of the Central Registry Agency (MKK) as one of its other activities. Here is the Official Gazette decision and what Article 17 of the regulation says.
Merchant & POS
The EU Payment Services Directive 2 (PSD2) is the EU's payment services law. ÖDED translated it into Turkish, creating an important handbook for anyone wanting to invest or work in this area.
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.
Payment Systems
Takasbank (Istanbul Settlement and Custody Bank) exists to increase the competitiveness of Turkey's markets by providing clearing and custody services, financial services, and other economic activities under the relevant legislation.
Payment Systems
Below is information on the products found in the Visa and MasterCard systems and their associated product codes, listed under Product ID (cardProductId).
Payment Systems
All e-money institutions are authorized to issue e-money under Article 18, paragraph 2 of Law No. 6493. In addition, the payment services they are authorized to provide under Article 12 of Law No. 6493 are shown in the table below.