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E-commerce
With the growth of the internet and its global reach, companies have increasingly begun to deliver their products to more people in foreign markets through online channels. This gives sellers an advantage beyond the domestic market and gives consumers wider access to products.
ATM
EAST, originally the European ATM Security Team, is a non-profit organization working on ATM security. Founded in 2004, it later broadened its scope and became the European Association for Secure Transactions.
Payment Systems
EAST, the European Association for Secure Transactions, is a non-profit organization working on ATM, terminal and payment security. It was founded in 2004 as the European ATM Security Team.
Merchant & POS
Isbank, a leading player in accepting payments from abroad in Turkey, has started accepting Discover and Diners Club cards via an agreement with Discover Financial Services, making it the bank accepting the most card brands in the country.
Closed-Loop Payments
Is Alipay a payment system, or a digital economy? In the previous post we discussed how Starbucks shows that payment systems can evolve into a different structure. At first the goal was to make payment easier for the customer. As the system grew, loyalty programs...
Payment Systems
Every payment transaction completes in seconds, yet dozens of controls run behind the scenes. This post covers the precautions for authorization and clearing, the critical role of reversals, and the financial loss scenarios most often seen in the field.
Merchant & POS
In payment systems, every exchange between POS devices and bank or payment institution systems runs on a specific messaging standard, generally based on ISO 8583. However, each country, bank, or switch network defines its own version of this standard.
Online & Authorization
You press the pay button and the screen says the transaction failed. Behind that failure are checks on your balance and transaction security. This post explains how funds confirmation APIs work, where they apply, and the situation in Turkey's open banking.
Payment Systems
After Russia invaded Ukraine, Visa and Mastercard suspended services for sanctioned Russian banks. This post explains the impact on cardholders and merchants, and Russia's MIR and UnionPay alternatives.
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.
Payment Systems
Takasbank (Istanbul Settlement and Custody Bank) exists to increase the competitiveness of Turkey's markets by providing clearing and custody services, financial services, and other economic activities under the relevant legislation.
Laws & Regulations
No. Companies whose shareholders are foreign individuals or legal entities can also apply for an operating license, provided documents on foreign shareholders are submitted in line with Article 61 of the Regulation.