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Payment Institutions & E-Money
According to the Guide, where payment transactions arise only in connection with the main activity of providing investment services, the investment firm's services cannot be considered payment services.
Cryptocurrency
Bitcoin has a concept similar to the subunits of fiat currencies: the satoshi. It is the smallest unit of Bitcoin, defined as one hundred-millionth of a Bitcoin (0.00000001 BTC), and it is named after Satoshi Nakamoto.
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.
Closed-Loop Payments
Is Starbucks really selling coffee, or building an ecosystem? Prepaid balances, a loyalty program and customer data turn a coffee chain's payments into a closed-loop economy, a very different model from Istanbulkart.
Payment System Institutions
BKM (Interbank Card Center) works through several committees: Security, Operations and Technology, Market Development, Business Development, Chargeback Rules and Arbitration, ATM Sharing, plus arbitration committees. This post outlines each one's duties.
Laws & Regulations
The Equity-Based Crowdfunding Communiqué entered into force with its publication in the Official Gazette on 03.10.2019 and explains how money is raised from the public through crowdfunding platforms in exchange for shares. What are crowdfunding and equity-based crowdfunding?
Payment Systems
How do banks fund so many points, bonuses, and discounts? This post explains the credit card profitability model: merchant commissions, interchange, interest income, installments, and why campaigns are an investment in transaction volume rather than a cost.
Open Banking
Embedded Finance means integrating financial products and services into non-financial platforms, experiences or business processes. In other words, services offered by financial institutions become part of the product or service flows of non-financial organizations.
Cryptocurrency
HODL is a term Bitcoin users hear often. It has no dictionary meaning in English or Turkish; it means buying a cryptocurrency and holding it. The term was born from a typo of “hold” on a Bitcoin forum years ago.
Payment Systems
Fintech, short for financial technologies, is a term for companies that bring together finance and technology to provide easy and fast financial services, growing rapidly worldwide.
Credit Card
Today, as cash use steadily declines and credit card use keeps rising, using credit cards in line with one's income -so to speak, stretching your legs only as far as your blanket reaches- benefits both the cardholder and the country, as well as merchants.
ATM
Moving branch transactions to channels such as ATMs, internet banking and mobile banking lowers banking costs, so almost every transaction can now be done through them. Here is what ATMs offer.