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Payment Systems
Electronic money is a legally defined concept in Türkiye under Law No. 6493. Since Bitcoin is not linked to any central bank or official institution and does not meet the required conditions, it cannot be considered electronic money.
FAST
The Central Bank of the Republic of Turkey (CBRT) has implemented a significant limit increase in the FAST system. Under the regulation effective August 26, 2026, the FAST money transfer limit was raised from TRY 100,000 to TRY 300,000. The same increase also applies to Request to Pay...
Payment Institutions & E-Money
The duties of the Payment Systems and Financial Technologies Department, set up within the CBRT Head Office, have been defined, along with the directorates it consists of.
Merchant & POS
BKM TechPOS is a merchant and POS management infrastructure provided by BKM. Banks need to allocate physical/virtual/ECR POS terminals to merchants in order to establish a merchant relationship with their corporate or sole-proprietor customers.
Payment Institutions & E-Money
No. Virtual currency is a digital representation of value not issued by any central bank, credit institution or e-money institution. Electronic money is defined in Turkish law and is tied to an electronic money institution.
Payment Institutions & E-Money
In general, electronic money is monetary value stored on a protected technological device. Turkish law defines it under Law No. 6493 as electronically stored value issued against funds and accepted by third parties as a means of payment.
Credit Card
After Apple Card, announced last March to great fanfare, Huawei said it would issue a card too. Google has now joined the race among tech companies by announcing a new card of its own.
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.
Payment Systems
This Guide links business models frequently encountered in the payments field to the payment services listed in Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions, and aims at uniformity in practice.
Payment System Institutions
According to the CBRT's official website, the Central Bank of the Republic of Turkey has become the controlling shareholder of the Interbank Card Center (BKM), using the authority granted by Law No. 7192.
Credit Card
When I think back to the Akbil I used when I first arrived in Istanbul, I think it's fair to say that Istanbulkart has undergone a very significant transformation. Users can now track activity, top up and view balances right from their phones.
Payment Institutions & E-Money
Digitalization is showing itself first in banking and payment systems. The BRSA has announced it will begin issuing digital (branchless) bank licenses, opening the way for new digital banks in Turkey under an amendment to Banking Law No. 5411.