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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.
Laws & Regulations
In its press release of 12 November 2020, the Central Bank of the Republic of Türkiye announced that preparations had been completed to launch FAST, a new instant payment system.
ATM
Chip-based ID cards have made our identities more secure, so they can now be used in many critical transactions. Could they also be used in the world of payments, such as at ATMs?
Credit Card
The following steps should be followed when launching a new product: decide on the brand, request a new BIN from the scheme (Mastercard, Visa, Troy), define the BIN in the bank's system, generate keys in the HSM, and roll it out after certification.
Payment System Institutions
FAST is the money transfer system announced by the Central Bank of the Republic of Türkiye in its press release of 12 November 2020 that makes 24/7 money transfers possible.
Security
Payment security is very important in payment systems. To increase security, transactions require additional information such as PINs and passwords. Remembering which information to use, and keeping it in mind without forgetting…
Merchant & POS
To upload a version to a POS, the software on the POS and the authorization system on the bank side must support it. Version upload to a POS can be done manually on the device itself, or via a remote upload request.
Credit Card
Technology continues to make our lives easier and more secure. Old ID cards were just laminated paper; new ones became personalized and secure with biometric photos added alongside chip data.