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Merchant & POS
Payments made over the internet are called digital payments. Card payments, cryptocurrency, and online banking transfers all fall within the scope of digital payment, along with mobile wallets and QR code payments.
Closed-Loop Payments
Is Alipay a payment system, or a digital economy? In the previous post we discussed how Starbucks shows that payment systems can evolve into a different structure. At first the goal was to make payment easier for the customer. As the system grew, loyalty programs...
Merchant & POS
Digitalization has brought major change to payment systems, just as it has to every area of our lives. Its biggest impact has been turning the financial world into something virtual, spanning IoT, mobile payments, blockchain and biometrics.
Merchant & POS
Today is April 23, the 100th anniversary of the opening of the Grand National Assembly. Taking Children's Day as a starting point, this post looks at digitalization, Generation Z, blockchain, biometric payments and the cashless society from a payment systems perspective.
Payment Systems
As part of the first-phase work of the Digital Turkish Lira Project led by the Central Bank of the Republic of Turkey (CBRT), the first payments on the Digital Turkish Lira Network were successfully carried out. The CBRT will continue its closed-loop pilot tests in the first quarter of 2023.
Payment Systems
Official Gazette No. 32332 dated 07.10.2023 published the amending Regulation and Communiqué covering digital wallets, e-money, share transfers, cloud outsourcing, remote identity verification and card system choice.
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
The European Payments Initiative (EPI), formerly known as PEPSI, is an ECB-backed payment integration initiative aiming to build a pan-European payment system and interbank network to rival Mastercard and Visa. Its founding members include BBVA, BNP Paribas, CaixaBank, Commerzbank and others.
FAST
The Central Bank of the Republic of Turkey (CBRT) has implemented a significant limit increase in the FAST system. Under the regulation effective August 26, 2026, the FAST money transfer limit was raised from TRY 100,000 to TRY 300,000. The same increase also applies to Request to Pay...
Credit Card
About 90% of payment schemes print card numbers with 16 digits. But 90% producing 16-digit cards should not turn into a rule that card numbers are always 16 digits. Web payment forms must also account for the remaining 10%.
General
Who will win in Agentic Commerce? Owning the customer used to be a huge advantage. Once an agent starts deciding on the customer's behalf, where does the real power move to?
Laws & Regulations
Under the Directive, payments made through telecom operators cover the purchase of digital services such as music, digital newspapers, e-tickets or charity donations, within certain amount thresholds.