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Payment Systems
With its announcement of 30/11/2023, the Revenue Administration published a draft Tax Procedure Law General Communiqué to complete the replacement of old-generation payment recorder devices (EN OKC) with new-generation ones (YN OKC), reduce cash use and increase card payment options.
Payment Institutions & E-Money
On 7 October 2023, the CBRT amended the Communiqué on Information Systems of Payment and E-Money Institutions and Data Sharing Services of Payment Service Providers, first published on 1 December 2021. Links to the new text, a comparison table and a detailed summary of changes follow.
Payment System Institutions
MASAK General Communiqué No. 19, which sets the procedures and principles for remote identity verification methods used to verify customer identity, was published in the Official Gazette on 30 April 2021.
Laws & Regulations
This communiqué regulates the procedures and principles for the information systems used in running payment and securities settlement systems, from information security to business continuity.
Payment Systems
A draft communiqué has been published setting out the procedures and principles for remote identity verification methods that banks can use for new customer acquisition and customer identity verification.
Laws & Regulations
This communiqué regulates how payment and electronic money institutions manage their information systems, how authorized independent auditors audit them, and the data sharing services of payment service providers.
Payment Systems
The communiqué on the information systems of payment and electronic money institutions and the data sharing services of payment service providers was published in Official Gazette No. 31676 on 01.12.2021 and entered into force.
Credit Card
This communiqué sets the rules for managing information systems used in bank card and credit card transactions. Card scheme operators, issuers, acquirers, merchants and outsourced service providers are all within its scope.
Payment Systems
This MASAK General Communiqué sets out the simplified customer due diligence measures that obliged parties must follow under the regulation on preventing money laundering and terrorist financing.
Laws & Regulations
This communiqué sets the procedures and principles for managing the information systems payment and electronic money institutions use in their activities, and for their audit by authorized independent audit firms.
Laws & Regulations
A rule-based method has been adopted for setting the maximum interest rates on credit card transactions, using a reference rate based on banks' weighted average deposit rates plus 55 basis points. This post summarizes the method and the rates effective 1 November 2020.
Payment Systems
The BRSA has prepared a draft communiqué setting out remote identity verification methods banks can use for new customer acquisition and identity verification, under Banking Law No. 5411 and the regulation on banks' information systems.