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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.
Merchant & POS
Partial authorization lets an issuer approve part of the requested amount when the card lacks the full balance, with the rest paid another way. This post covers the technical, receipt, clearing, reconciliation, merchant and certification requirements for acquirers.
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.
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.
Payment Systems
Open banking opens financial data, under the regulations and with the customer's explicit consent, to third-party service providers through standard APIs. The CBRT has published a guide on payment initiation and account information services, covering licensing and technical certification.
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.
Merchant & POS
PSD stands for Payment Services Directive, known as the Payment Services Law. It took effect in EU countries in 2009, and in 2015 new revisions were announced as PSD1, aiming to build an efficient, fast, secure, and competitive payment market.
Payment Systems
MASAK has published a report on the money laundering and terrorist financing risks of obliged parties that are not financial institutions under Law No. 5549.
Credit Card
The Payment Card Industry Data Security Standard (PCI DSS) is a technical and operational standard created by the PCI Committee, formed by internationally recognized payment brands, to ensure data security in card payment systems.
Open Banking
NextGenPSD2 is the set of API standards launched by the Berlin Group in 2017, now involving more than 1,700 banks from 20 countries. This post explains what the framework offers to banks, fintechs and third-party providers under PSD2.
HSM & Security
PA-DSS (Payment Application Data Security Standard) is the Payment Application Data Security Standard set by the PCI SSC, a global security standard created by the Payment Card Industry Security Standards Council.
Security
The Visa PIN Security Program Guide describes the security and procedural requirements for acquirers and their agents that process PIN data or manage keys for PINs associated with Visa transactions.