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Payment Systems
Contactless payment has greatly improved the user experience, yet its fixed transaction limit is a common complaint. Can this limit be managed dynamically per customer? This post covers the current situation, technical and regulatory requirements and the outlook.
Merchant & POS
Visa's Merchant Data Standards Manual covers classification, identification and data standard requirements for merchants, payment facilitators and marketplaces, including merchant naming, location and MCC rules. Here is what it contains and where to find it.
Online & Authorization
OpenAI and Stripe announced the Agentic Commerce Protocol (ACP), with Instant Checkout live on Etsy and Shopify in the US. What this means for payment facilitators and e-commerce platforms, and what may come beyond one-click checkout.
Credit Card
Yes. A certificate must be generated for every new BIN and loaded onto the card chip, establishing secure communication between the chip and the terminal. This is especially critical for verification in offline transactions.
Payment Systems
The domestic authorization flow for below-CVM-limit online contactless transactions has changed. Issuers can now ask the cardholder for a PIN or request card insertion instead of simply approving or declining. This post explains the CVM list and the new DE48 PDS22 and DE39 = 65 message flows.
Payment Systems
The rules in this guide relate to the processing of Transactions and Payment Transactions made with Mastercard-branded cards. Here are the key definitions and where to find the document.
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
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).
Credit Card
Banks must go through a costly, arduous process to issue cards (issuer) and accept cards (acquirer), paying high entry fees to international license providers and local organizations such as BKM.
Open Banking
First, it is useful to briefly recall the concepts of Banking as a Service and Open Banking. Banking as a Service (BaaS) lets interface developers connect directly to service banks' systems via APIs and open banking services to run banking transactions for customers...
Open Banking
Under the communiqué, service model banking does not require a separate BRSA license, but the service bank must notify the BRSA in writing before signing a contract with an interface developer.
Open Banking
No. Under the BRSA communiqué on service model banking, service banks can provide service model banking only to interface developers resident in Türkiye.