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Laws & Regulations
No. An electronic money institution licensed under Law No. 6493 is a payment service provider, so it can carry out the payment services listed in the Law without a separate license.
Merchant & POS
A step-by-step walkthrough of a 100 TL POS sale: end-of-day batch close, clearing through BKM, interchange and merchant commission, and why the merchant gets paid even if the cardholder never pays the card bank.
Credit Card
Due to how payment systems work, authorization is obtained first for a transaction. For a Not Onus transaction (where the card-issuing bank and the POS bank are different), the system waits for the relevant transaction to arrive via the clearing incoming file…
Payment Institutions & E-Money
The duties of the Payment Systems and Financial Technologies Department, set up within the CBRT Head Office, have been defined, along with the directorates it consists of.
Payment Systems
Fintech, short for financial technologies, is a term for companies that bring together finance and technology to provide easy and fast financial services, growing rapidly worldwide.
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.
Credit Card
ISO/IEC 7816 is an international standard jointly maintained by ISO and IEC, covering contact-based electronic identification cards, especially smart cards. It consists of 15 different parts, each covering a different aspect of smart card technology.
HSM & Security
Secure Element Issuer is the stakeholder that provides, maintains, and updates the secure element in cases where mobile payment application and card data are stored in the secure element inside a mobile phone.
Payment Institutions & E-Money
The Law provides for judicial fines and prison sentences for people who act as a payment or electronic money institution without the required licenses, and for those who use names suggesting they do.
Payment Systems
28 European banks have started working on a cashless payment system cooperation that would operate across Europe independently of existing international schemes such as Mastercard, Visa and Discover.
Laws & Regulations
Law No. 6493, published in Official Gazette No. 28690 on 27 June 2013, regulates the procedures and principles for payment and securities settlement systems, payment services, payment institutions and e-money institutions.
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.