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Laws & Regulations
Law No. 5549 introduced legal rules to prevent money laundering and terrorist financing, defined obligations, and expanded MASAK's remit to cover the fight against terrorist financing as well as money laundering.
Security
Personal data means any information relating to an identified or identifiable natural person, including not only names and birth dates but also physical, family, economic and social characteristics.
Laws & Regulations
A payment service means the services offered under Article 12(1) of Law No. 6493. Essentially, it is delivering funds received from a sender to a recipient.
E-commerce
BOPIS, short for 'Buy online pickup in-store' and also known as click and collect, means buying online and picking up the order at a store. Learn how it works, who can offer it and which companies in Turkey already do.
Merchant & POS
In payment systems, an online transaction means the transaction is sent to the card or POS/ATM bank at the moment it occurs, and required checks are obtained from that system. So does every transaction happen online? Of course not. Especially with contactless...
Credit Card
ISO/IEC 10373 specifies the technology-independent test methods needed to check that identification cards conform to the base requirements defined in ISO/IEC 7810 and related standards.
Payment Institutions & E-Money
The term 'Third Party Provider' refers to an authorized online service provider introduced under Open Banking. These are systems outside a customer's relationship with their bank that mediate the transaction. So how many types of third party provider are there? Two.
Online & Authorization
Commercial off-the-shelf (COTS) products and services are ready-made, packaged solutions adapted to a purchasing organization's needs, rather than custom-built ones. In payment systems, COTS includes ready-made payment apps for phones and Android POS devices.
Merchant & POS
Current information: this article describes the limit in force at the time of publication. To reduce the risk of the coronavirus (Covid-19) spreading, the contactless transaction limit on credit and debit cards was raised to 250 lira.
Merchant & POS
The digital form of Point of Sale (POS) systems is called Digital POS. There is also a software-only subtype called Virtual POS. After Mobile POS (mPOS) and Virtual POS usage became widespread, the term digital POS came to refer to these two products.
Credit Card
A credit card is a printed card, or a card number with no physical form, that allows the purchase of goods and services or cash withdrawal without using cash. So how are credit card limits set and managed? Setting a limit involves checking many parameters about the customer.
Security
Published by the PCI SSC, Software-based PIN Entry on COTS (SPoC) is a standard that provides a software-based approach for protecting PIN entry on commercial off-the-shelf devices such as smartphones and tablets.