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Payment System Institutions
These are credit institutions providing financing to individuals and companies for purchasing goods and services. Financing companies specialize mainly in vehicle loans, offering fast and flexible point-of-sale solutions distinct from banks.
Security
E-commerce has grown significantly in recent years, and so have negative experiences and concerns about trust. This post summarizes the basic consumer rights under Law No. 4077: the right of withdrawal, cargo delivery rights, defective products and the Consumer Arbitration Committee.
E-commerce
Can a product bought online be returned, and under what conditions? This post explains the 14-day right of withdrawal in Turkey and the cases in which Law No. 6502 on Consumer Protection removes the right of return.
Payment Systems
The General Data Protection Regulation (GDPR), (EU) 2016/679, is EU law on data protection and privacy. It gives individuals control over their personal data, requires breach notification within 72 hours, and allows fines of up to 20 million euros or 4% of annual revenue.
Laws & Regulations
Law No. 6502 on Consumer Protection aims to protect consumers' health, safety and economic interests, compensate their losses and inform them. It covers all consumer transactions and practices aimed at consumers.
Payment Institutions & E-Money
A payment institution is a legal entity authorized under the Law to provide and execute payment services. It must be a joint stock company meeting the conditions in Article 14 of Law No. 6493. This post sets out the services listed in Article 12 and the exclusions.
Payment Institutions & E-Money
The Law defines e-money as monetary value issued in exchange for funds accepted by the issuer, stored electronically, used for payment transactions and accepted as a payment instrument by persons other than the issuer. This post explains e-money institutions and the services they may provide.
Laws & Regulations
The articles of the Regulation on the Accessibility of Banking Services are listed below. Published in the Official Gazette on 18 June 2016 (issue 29746), banks must strictly comply with them. PART ONE Purpose...
Credit Card
Credit cards can be a convenient way to manage income and expenses, but for those who don't know how to use them, they can become an expensive and risky product. Here are the key pros and cons to weigh before applying for one.
Fraud
Fraud monitoring refers to tracking card transactions through scenarios to detect potential fraud and taking rapid action immediately before or after a transaction occurs - such as identifying a suspicious transaction, calling the customer, or temporarily blocking the card to prevent authorization.
Credit Card
KKB was established, under banking law, to enable the exchange of all kinds of information and documents among at least five banks, and it also shares credit information about customers. The Credit Bureau of Turkey also serves deposit banks, participation banks, financial institutions, and more.
Chargeback
A chargeback is the refund of an amount paid by credit card to the cardholder's card when the purchased goods or services were not received, or when a transaction was not actually carried out by the cardholder.