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Chargeback
Compliance means adherence to card scheme rules. Outside chargebacks, it is how a bank that loses money because card payment organization rules were broken recovers that amount from the party that caused the loss.
Laws & Regulations
The Regulation amending the Regulation on Program of Compliance with Obligations of Anti-Money Laundering and Combating the Financing of Terrorism has been published. It introduces financial group compliance rules, a deputy compliance officer and wider scope.
Laws & Regulations
The Central Bank of the Republic of Türkiye (CBRT) extended the compliance deadlines for digital wallets and GEÇİT. The digital wallet deadline moved from 7 October 2024 to 7 April 2025.
Laws & Regulations
A payment institution is a legal entity that provides payment services for electronic payments through the infrastructure it offers. This article covers the Turkish regulatory framework, licensing, safeguarding, supervision, penalties and taxation.
Credit Card
Yes. A certificate must be generated for every new BIN and loaded onto the card chip, establishing secure communication between the chip and the terminal. This is especially critical for verification in offline transactions.
Payment System Institutions
One of the most important transformations in banking over the last few years has undoubtedly been remote customer onboarding. Individuals can now become bank customers within minutes without visiting a branch. Digital identity checks and contracts largely solved a long-standing problem...
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.
Chargeback
TRIP (Turkey's Communication Platform) is a central platform developed by BKM to fight fraud, bringing together Case Filing, Issuer and Acquirer Chargeback operations (Pre-Arbitration, Pre-Compliance, Arbitration, Compliance), and ATM deposit/payment dispute operations.
Security
A Qualified Security Assessor (QSA) is a person approved by the PCI Security Standards Council to audit merchants for compliance with the Payment Card Industry Data Security Standard.
Credit Card
Published by Mastercard on 24 May 2019, the Data Integrity Monitoring Program monitors transactions (authorization, clearing, chip, chargeback, etc.) in the Mastercard system to reduce erroneous transactions and increase transaction success rates.
Security
It is an organization aimed at developing, managing, teaching, and raising awareness of security standards in the Card Payments Industry. The PCI Security Standards Council is also an open global forum for data security standards.
Credit Card
The Chargeback Document Management System (CDYS) is a system developed by BKM to resolve customer disputes over card payment transactions among BKM members, covering Copy Request, Chargeback, Representment, and related processes.