Credit Card
What is a prepaid card?
A prepaid card is a customized card, with or without a chip, not linked to a bank account and without a credit limit like credit cards, letting you spend only the amount loaded onto it.
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"Money Transfer"
96 articles found
Laws & Regulations
What are the regulations and legal obligations of payment institutions?
A payment institution is a legal entity that provides payment services for electronic payments through the infrastructure it offers. This article covers the Turkish regulatory framework, licensing, safeguarding, supervision, penalties and taxation.
Debit Card
What Is a Prepaid Debit Card?
A prepaid card is a customized card that is not linked to a bank account and has no credit limit like a credit card - you can spend only up to the amount loaded onto it. Prepaid cards function just like a bank card or credit card.
Payment Institutions & E-Money
The Payment and Electronic Money Institutions Association of Turkey Is Being Established
Under the Law on Payment Services and Electronic Money Institutions, the organs, duties and powers, and working principles of the Payment and Electronic Money Institutions Association of Turkey have been determined. The statute is now in force.
Cryptocurrency
What Is Cryptocurrency Mining?
Mining is the production of cryptocurrency through hardware and software, as well as the recording and confirmation of cryptocurrency transfers. Because block difficulty rises with each new unit, mining requires very powerful processors.
FAST
Can an Easy Address Defined at One Bank Be Defined for an Account at Another Bank?
Yes. To change the account an Easy Address is linked to, log in through the other bank's channel and create a new Easy Address definition. From that moment on, the old definition at the previous bank becomes invalid.
Merchant & POS
If I don't pay my credit card debt, can the merchant still get its money?
A step-by-step walkthrough of a 100 TL POS sale: end-of-day batch close, clearing through BKM, interchange and merchant commission, and why the merchant gets paid even if the cardholder never pays the card bank.
Laws & Regulations
Is There Any Rule on the Minimum Number of Shareholders in Payment and Electronic Money Institutions?
No. Law No. 6493 sets no minimum number of shareholders, so under Turkish Commercial Code No. 6102 a payment or electronic money institution can be set up with a single shareholder.
FAST
Where Can I Cancel a Defined Easy Address?
An Easy Address is defined through the channels of the bank holding the account. Likewise, an Easy Address can be cancelled and deleted through the channels of the bank where the account is held.
Debit Card
What Is a Stored Value Card?
A stored value card is a widely used card type today. Instead of being held in a financial system, the monetary balance is stored directly on the card, which has a special magnetic stripe recording important financial data such as the balance.
Clearing
What Are Clearing and Settlement?
Clearing: the transmission of transfer orders sent to the system, mediating their mutual delivery, obtaining authorization prior to settlement in some systems, and netting payment orders.
Merchant & POS
How Are Payment Institutions' Virtual POS Services Taxed?
Payment and e-money institutions' commissions were first subject to VAT, but since their work resembles banking, BSMV was debated. Expenditure Taxes General Communiqué No. 91 settled the question.