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Laws & Regulations
This communiqué regulates how payment and electronic money institutions manage their information systems, how authorized independent auditors audit them, and the data sharing services of payment service providers.
Laws & Regulations
No. A payment institution is a legal entity authorized by the Board to provide payment services. “Payment service provider” is a broader concept covering banks, electronic money institutions and payment institutions together.
Payment Institutions & E-Money
A payment institution is a legal entity authorized under the Law to provide and execute payment services. It must be a joint stock company meeting the conditions in Article 14 of Law No. 6493. This post sets out the services listed in Article 12 and the exclusions.
Credit Card
To ease payments during post-coronavirus normalization and support domestic tourism, the BRSA raised the credit card installment limit for domestic airline, travel agency and accommodation spending from 12 to 18 months.
Payment Systems
Current information: this post describes the limit at the time of publication. The BRSA raised the contactless card transaction limit to 750 TL, effective 1 July. Above the limit, contactless payments need a PIN. The post also traces the limit's history.
Payment Systems
The purpose of these rules is to set out the operating rules, participation requirements, and pricing principles of the QR Code Routing System (KYS) established and operated by BKM, as well as other procedures related to KYS's operation.
Credit Card
With its announcement dated 09.06.2022, the BRSA changed how the credit card minimum payment is calculated: 20 percent of the period debt below a 25,000 lira limit and 40 percent above it. This post covers what banks should do and the likely market impact.
Merchant & POS
The Central Bank of the Republic of Turkey has capped the commission banks charge merchants on credit card purchases, effective for transactions after November 1, 2019. What does this mean for cardholders and banks?
Payment Systems
The CBRT reset the minimum equity amounts for payment and e-money institutions: 10 million TL for bill payment institutions, 20 million TL for other payment institutions and 55 million TL for e-money institutions.
Laws & Regulations
No. There is an exemption for technical service providers that offer IT support for the provision of payment services. However, they have responsibilities under the Communiqué on outsourcing and information security.
Payment Systems
The BRSA has published a draft regulation amending the Regulation on Debit Cards and Credit Cards. It introduces the card scheme definition, a customer right to choose the card scheme, and an obligation for acquirers to define licensed schemes on merchant POS devices.
Payment Systems
This guide, prepared in line with the regulation and its annex on TR QR Code principles and rules, gives sample mobile payment flows and defines the TR QR Code data organization for merchant-presented and consumer-presented models.