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Payment Systems
TCR stands for Transaction Record Component, the packets that carry transaction information in a clearing system. Transaction types in a clearing file are distinguished by transaction code and usage code values, and this data is sent inside TCR packets.
Credit Card
Installment payment means dividing a product's price into a set number of equal amounts. For example, if a 100 TL product is bought in 5 installments, the cardholder pays 20 TL a month for 5 months, totaling 100 TL.
Payment Systems
Global technology companies' interest in payment systems keeps growing every day. According to reports, Apple has begun planning work on infrastructure to accept installment payments with Apple Card, letting users pay in monthly installments.
Credit Card
An installment is when a credit card transaction is split into a fixed number of monthly payments to the bank. For example, splitting a 100 TL purchase into 5 installments means paying the bank 20 TL per month until the full amount is paid off.
Credit Card
The number of installments allowed varies for personal and corporate cards. A regulation by the Banking Regulation and Supervision Agency (BRSA), published in Official Gazette No. 30510 on 15.08.2018, set the installment limits that apply today.
E-commerce
Alternative payment systems are services from intermediary companies that use virtual POS accounts in the background to benefit merchants. Law No. 6493 calls them payment institutions. This article compares them with bank virtual POS accounts.
Credit Card
The minimum payment amount is the portion of the monthly debt - resulting from a cardholder's credit card spending shown on the latest statement - that must be paid. How much of the total debt is the minimum payment amount? Although the calculation varies from bank to bank...
Merchant & POS
A reader asks whether a payment request taken at a customer's request should be sent as an e-commerce transaction, and what really separates Mail Order from E-commerce authorization.
Merchant & POS
A Collection POS is a secure, web-based payment platform through which businesses and institutions manage their collections and generate the reports they need. Many similar products exist on the market under different names.
Payment Institutions & E-Money
Online shopping keeps growing, and e-commerce sites must choose between working with a bank or a payment institution. This article explains why a single application and integration with a payment institution can be the better route.
E-commerce
Transactions paid at regular intervals can be defined in the system so that only the installment amount blocks the credit card limit; these are called recurring transactions, used for subscriptions or automatic bill payments.
Credit Card
Banks set two payment amounts for a credit card: the minimum payment and the statement balance. Here is what the minimum payment is, and what happens when you pay only the minimum or less.