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Credit Card
In the world of payment systems, just as credit cards are an indispensable product, a payment scheme is indispensable for credit cards. When a credit card product is launched, the scheme it will be issued under is decided first.
Payment Systems
After Russia invaded Ukraine, Visa and Mastercard suspended services for sanctioned Russian banks. This post explains the impact on cardholders and merchants, and Russia's MIR and UnionPay alternatives.
Payment Systems
Strong Customer Authentication (SCA) is a security requirement introduced under the EU's Payment Services Directive 2 (PSD2) to increase security and reduce fraud in online payment transactions. SCA requires two of three independent authentication factors.
Laws & Regulations
The CBRT announced that it has launched open banking services in payments, a component of the digital economy roadmap of its liraization strategy, through BKM's Open Banking Gateway (GEÇİT).
Laws & Regulations
Yes. Payment institutions themselves cannot engage in commercial activities other than payment services, but their agents may continue their other commercial activities alongside the payment services.
Laws & Regulations
BKM (Interbank Card Center) membership is available in 3 statuses: bank, institution or HSK. This post explains the eligibility criteria for each status, the 12-month certification requirement and the BKM fee principles.
Payment Systems
With the CBRT's regulation on payment services, electronic money issuance and payment service providers, the minimum equity amounts for bill payment, payment and electronic money institutions were raised.
Merchant & POS
UnionPay International (UPI) is a China UnionPay subsidiary founded in November 2012. Together with more than 1,000 institutions worldwide, UPI provides international card acceptance in 160 countries and card issuance in more than 40 countries and regions.
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.
Online & Authorization
Pay by link is an innovative financial solution that completes a payment through a link sent over the internet, making it possible to shop and transfer money through channels like WhatsApp and Instagram.
Payment Institutions & E-Money
ÖDED (Payment and Electronic Money Association) is the only industry association representing the payment and electronic money institutions operating in Türkiye under Law No. 6493.
Laws & Regulations
The articles of the Regulation on the Accessibility of Banking Services are listed below. Published in the Official Gazette on 18 June 2016 (issue 29746), banks must strictly comply with them. PART ONE Purpose...