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Credit Card
Credit cards can be a convenient way to manage income and expenses, but for those who don't know how to use them, they can become an expensive and risky product. Here are the key pros and cons to weigh before applying for one.
Laws & Regulations
Law No. 7192 amends certain articles of Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions. Announced on 22 November 2019, it entered into force on 01.01.2020.
Merchant & POS
BKM (Interbank Card Center) shared 2018 developments in card payments and the cashless society goal in Turkey. The data shows card payments becoming a bigger part of daily life every year.
Credit Card
Amex is short for American Express, a payment scheme like Mastercard, Visa, or TROY. Learn its history, what sets Amex cards apart, and whether every website accepts them.
Chargeback
Chargeback reason codes vary by card scheme. The Amex chargeback reason codes and their descriptions are listed below: American Express Chargeback Reason Codes A01 The charge you submitted did not receive a valid authorization approval code for the amount...
Merchant & POS
Isbank, a leading player in accepting payments from abroad in Turkey, has started accepting Discover and Diners Club cards via an agreement with Discover Financial Services, making it the bank accepting the most card brands in the country.
ATM
Banks generally prefer to handle their own ATM software and operations. Some banks have third-party firms develop the software while handling operational processes themselves, so each bank ends up doing separate work for both.
Payment Institutions & E-Money
How much capital is required to establish a payment institution or e-money institution? Under the second paragraph of Article 14 of Law No. 6493, minimum paid-in capital amounts are set for each institution type.
Merchant & POS
Payment systems once meant a physical card and a PIN on a POS device. Digitalization that began with contactless transactions has accelerated with mobile payments, and MasterCard is now working on voice shopping and Soft POS in Turkey.
Payment Systems
Digitalization keeps changing the speed and shape of payments. AI-based payment agents pay on their own within user-defined limits and rules, completing transactions without the user initiating any action. This post explains how they work and what to watch for.
Payment Institutions & E-Money
No. When applying, you must document that the company has 1 million TL of paid-in capital, paid in cash and free of collusion. The collateral is deposited with the CBRT only if the Board grants the license.
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.