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Payment System Institutions
BKM (Interbank Card Center) works through several committees: Security, Operations and Technology, Market Development, Business Development, Chargeback Rules and Arbitration, ATM Sharing, plus arbitration committees. This post outlines each one's duties.
E-commerce
Alternative payment systems are services from intermediary companies that use virtual POS accounts in the background to benefit merchants. Law No. 6493 calls them payment institutions. This article compares them with bank virtual POS accounts.
E-commerce
Payment by SMS is a solution where the merchant sends the customer a link via SMS through an online collection system, and the customer pays by entering their debit or credit card details.
Payment Systems
The MasterCard and Visa Chargeback Reason Codes Requiring a Written Merchant Rebuttal are listed below. Visa: Supporting documentation (sales drafts, contracts, proof of delivery) always strengthens the case. Codes include 30, 41, 53, 57, 75, 80, 85, 86 for Visa and 4831-4863 for MasterCard.
Credit Card
If you can't use your card for e-commerce transactions abroad, first check that e-commerce authorization is enabled, that 3D Secure has been set up, and that your bank's authorization system is active. The issue may also originate from the merchant's bank.
Merchant & POS
Onboarding refers to all the practices that help a customer learn to use a product or service for the first time. In payment institutions, it covers verifying a customer's information and documents during merchant application.
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.
Payment Systems
FTS (Termination Tracking System) lets banks check, before signing a merchant agreement, whether the applicant company or its representative has a negative history with any bank.
Merchant & 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.
Laws & Regulations
Law No. 6493, published in Official Gazette No. 28690 on 27 June 2013, regulates the procedures and principles for payment and securities settlement systems, payment services, payment institutions and e-money institutions.
Merchant & 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.
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.