ATM
What Is Retract?
Retract is a term used in ATM systems. When cash already presented to the customer is not taken, it is diverted into a compartment called retract, as opposed to the reject compartment used for unusable banknotes.
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Payment System Institutions
What Are the Financing Companies Operating in Turkey?
These are credit institutions providing financing to individuals and companies for purchasing goods and services. Financing companies specialize mainly in vehicle loans, offering fast and flexible point-of-sale solutions distinct from banks.
Credit Card
Did We #StayHome? (Based on BKM March 2020 Data)
The coronavirus has turned the past month into a new way of life. How will these changes affect payment systems? This post reviews the March 2020 data announced by BKM, including the surge in contactless and online card payments.
Laws & Regulations
What are payment systems according to the CBRT?
Payment systems are the instruments, processes and rules that enable the transfer of funds or securities between participants. This post explains the conditions a structure must meet to qualify as a payment system and the Turkish regulations that govern them.
Fraud
Famous Hacker Caught After 8 Years
Recently the following news story appeared in the papers. Two things stood out: the hacker was a former banker, and the device he used to clone cards. In banking fraud, insiders who know the system's weak points can build schemes customers never notice.
Payment Systems
What are Payment Systems?
Let's talk about payment systems, which we have heard more about since the internet entered our lives, and the basic structures behind them. The first credit card in the world was used in America in the 1920s.