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Laws & Regulations
Yes. Payment institutions themselves cannot engage in commercial activities other than payment services, but their agents may continue their other commercial activities alongside the payment services.
Laws & Regulations
The purpose of this regulation is to set the procedures and principles for the operating licenses and activities of the operators of payment and securities settlement systems.
Laws & Regulations
This communiqué regulates the procedures and principles for the information systems used in running payment and securities settlement systems, from information security to business continuity.
Payment Systems
The BRSA has published a draft amendment to the regulation on remote identification methods used by banks and electronic contract relationships. It extends remote onboarding to legal entities, including MERSIS-based verification of representatives.
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.
3D Secure
Isbank (Turkiye Is Bankasi) has completed Europe's first migration to EMV 3D Secure 2.0, the current version of the 3D Secure authentication infrastructure used to verify cardholders in online card purchases. Deputy General Manager...
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.
Payment Systems
Let's start by defining e-money. In general terms, e-money is a monetary value stored on a secure technological device (such as a computer disk). E-money is a concept defined under Turkish law through legislation enacted by the BRSA (BDDK).
Payment Systems
“What do contracts have to do with us? Let the legal department handle them,” you might say. But legal teams can't know every specialty, so business teams are expected to help with the clauses that affect their decisions.
Payment Systems
With the CBRT's regulation on payment services, electronic money issuance and payment service providers, the minimum equity amounts for bill payment, payment and electronic money institutions were raised.
Credit Card
In the world of payment systems, just as credit cards are an indispensable product, a payment scheme is indispensable for credit cards. When a credit card product is launched, the scheme it will be issued under is decided first.
Laws & Regulations
In Türkiye, collecting payments requires a payment institution license and issuing e-money requires an e-money institution license. Article 28 of Law No. 6493 sets prison terms and fines for operating without one.