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Payment Institutions & E-Money
The Law defines e-money as monetary value issued in exchange for funds accepted by the issuer, stored electronically, used for payment transactions and accepted as a payment instrument by persons other than the issuer. This post explains e-money institutions and the services they may provide.
Payment Institutions & E-Money
A payment institution is a legal entity authorized under the Law to provide and execute payment services. It must be a joint stock company meeting the conditions in Article 14 of Law No. 6493. This post sets out the services listed in Article 12 and the exclusions.
General
Who will win in Agentic Commerce? Owning the customer used to be a huge advantage. Once an agent starts deciding on the customer's behalf, where does the real power move to?
Closed-Loop Payments
Is Alipay a payment system, or a digital economy? In the previous post we discussed how Starbucks shows that payment systems can evolve into a different structure. At first the goal was to make payment easier for the customer. As the system grew, loyalty programs...
HSM & Security
TAK stands for Terminal Authentication Key. It is the data encryption key used to generate and verify a Message Authentication Code (MAC) for data communication between a terminal and the acquirer within a local network.
Merchant & POS
The Regulation on the Non-Use of Crypto Assets in Payments, published in the Official Gazette on 16 April and effective from 30 April, looks set to seriously affect cryptocurrency developments in Turkey. Here are its key points and the full text.