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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.
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.
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.
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.
Contactless
It is important to use contactless cards to prepare our payment habits for the future. In Turkey, one in every 3 cards and one in every 4 POS terminals is contactless-enabled, yet usage remains around 5%.
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 Institutions & E-Money
The first Payment Services Directive (PSD1) was adopted in 2007 to provide the legal basis for a single EU payments market. PSD2, Directive 2015/2366, replaced it to make payments safer, more integrated and more competitive.
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.
Merchant & POS
The EU Payment Services Directive 2 (PSD2) is the EU's payment services law. ÖDED translated it into Turkish, creating an important handbook for anyone wanting to invest or work in this area.
Open Banking
The European Banking Authority (EBA) is an EU regulatory body headquartered in Paris. It runs stress tests on European banks to increase transparency and identify weaknesses in their capital structures. It was established on 1 January 2011.
Credit Card
The BRSA raised the card limit threshold used to set the minimum payment rate from TRY 50,000 to TRY 100,000. This post explains what changed, why now, the short-term relief, the risk of carried-over balances, and which data to watch.
E-commerce
A marketplace is an online payment platform where buyers and sellers come together, where products and services are listed for sale, and other operations are facilitated.