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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.
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.
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.
Payment Institutions & E-Money
No. Virtual currency is a digital representation of value not issued by any central bank, credit institution or e-money institution. Electronic money is defined in Turkish law and is tied to an electronic money institution.
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.
ATM
ISO 4217, also known as the currency code standard, defines the three-letter abbreviations assigned to currencies. The ISO 4217 code list is used extensively in banking and business. In some countries, exchange offices rely on these codes alone.