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Clearing
In payment systems, a transaction made at a merchant or ATM with a card issued by a different bank becomes subject to clearing. Netting offsets each participant's receivables and payables from these transactions into a single balance.
ATM
Banks must provide the infrastructure for ATM access by visually impaired customers. Among ATMs side by side or less than 50 meters apart, only one needs to comply; all other ATMs must serve visually impaired customers. Details of Article 7 are below.
Open Banking
Digital banking is talked about more every day, and with the BRSA's support in defining its scope, it is about to enter our lives. A 'digital bank' is a credit institution that provides banking services mainly through electronic channels rather than physical branches.
ATM
Banks must provide the infrastructure for ATM access by customers with orthopedic disabilities. Not every ATM has to comply: at least two out of every 100 ATMs a bank operates must be suitable. This post explains the details of the regulation article.
Payment Systems
Digital Account Checking underpins many innovative banking and FinTech services. In most cases, it is performed by Account Information Service Providers, which supply data from customers' online bank accounts to other banks and third-party providers.
Debit Card
A contactless transaction is a fast, secure payment made between a chip card and a POS device without direct contact, without the card's chip or magnetic data being read through the card reader. Can this be done with a debit card (ATM card)?
Payment System Institutions
MASAK General Communiqué No. 19, which sets the procedures and principles for remote identity verification methods used to verify customer identity, was published in the Official Gazette on 30 April 2021.
Laws & Regulations
The Regulation on Information Systems of Banks and Electronic Banking Services sets the minimum procedures and principles for managing bank information systems, providing electronic banking services and managing related risks, along with the required information systems controls.
Merchant & POS
When signing a merchant agreement, merchants declare their line of business, which banks record as an MCC (Merchant Category Code). A merchant may only sell products or services within the line of business declared to its bank.
Merchant & POS
Partial Authorization lets an issuer approve part of a transaction instead of declining it when the balance or limit is insufficient. This post covers how it works in ISO 8583, whether it is mandatory, and why it matters for the business.
Payment Systems
You can access the regulations on the Bank Cards and Credit Cards Law on the BRSA website. The regulations are updated as new ones are introduced.
Payment Systems
Published in the Official Gazette of 25.11.2022, six days before the Transition Period ended, an amending Regulation and Communiqué extended the transition period for some obligations of payment and e-money institutions from 01.12.2022 to 28.02.2023.