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Open Banking
Embedded Finance means integrating financial products and services into non-financial platforms, experiences or business processes. In other words, services offered by financial institutions become part of the product or service flows of non-financial organizations.
Merchant & POS
The Transaction Success Rate (TSR) is a key performance metric measuring the percentage of attempted payment transactions that complete successfully, and a critical indicator of overall payment health.
Payment Systems
Let's start by defining e-money. In general terms, e-money is a monetary value stored on a secure technological device (such as a computer disk). E-money is a concept defined under Turkish law through legislation enacted by the BRSA (BDDK).
Payment Systems
Foreign Currency POS is the POS software that lets merchants process transactions in a foreign currency. Terminals without it can only collect payments in Turkish lira. It comes in two common forms: Multicurrency POS and DCC POS (Dynamic Currency Conversion).
Payment Systems
Soft POS is a POS application that lets merchants accept payments from contactless cards or mobile wallets on Android devices, without needing a physical terminal. Companies market it under various names such as pocket POS or mobile POS.
Merchant & POS
No. Besides the terminal data, contactless limits can also be managed from the chip data. A “Use Merchant Contactless Limits” field decides which set of limits the POS applies.
Payment Systems
The communiqué on the information systems of payment and electronic money institutions and the data sharing services of payment service providers was published in Official Gazette No. 31676 on 01.12.2021 and entered into force.
Payment Systems
After Russia invaded Ukraine, Visa and Mastercard suspended services for sanctioned Russian banks. This post explains the impact on cardholders and merchants, and Russia's MIR and UnionPay alternatives.
Payment Systems
No, they cannot use your entire card limit. In addition to special controls for contactless cards, contactless-enabled cards have limited payment amounts.
Payment Systems
The Interbank Card Center (BKM) shared its data for the first 6 months of 2021: card payments totaled TRY 709 billion, online card payments reached TRY 188 billion, and the number of contactless payments tripled year on year.
Fraud
Yes. Cardholders have the right to dispute transactions made with their cards without their knowledge. Here is how the process, known as a chargeback, works.
Clearing
YTH stands for Yurtiçi Takas Hesaplaşma (Domestic Clearing and Settlement), the general name of the clearing system managed by BKM. In the clearing system, prefix values are held in fields F32, F93, F94 and F100.