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Payment Systems
Under the regulation published on 25 September 2020 in Official Gazette No. 31255, institutions that sign merchant agreements must now be able to track transactions at the sub-merchant level.
Merchant & POS
Banks check merchants against a termination list before issuing a POS device. Learn the main reasons, such as counterfeit card acceptance, excessive chargebacks, and fraud, that can lead a bank to terminate a merchant agreement.
Merchant & POS
When any sole proprietorship or commercial business applies to become a merchant, banks install a POS device, paying significant amounts to purchase each one, then rent the devices to merchants.
Credit Card
At first glance, a credit card seems like a product offered for cardholders' use and benefit, but it also provides significant benefits to merchants, from faster cash flow to collection security and new customers.
Merchant & POS
After a merchant applies to a bank and the required checks on the company are completed, a POS is connected to the customer. Settlement can be commission-based, held for a period, or both, depending on the agreement.
Merchant & POS
When signing a merchant agreement, merchants declare their line of business, which banks record as an MCC (Merchant Category Code). A merchant may only sell products or services within the line of business declared to its bank.
Merchant & POS
A step-by-step walkthrough of a 100 TL POS sale: end-of-day batch close, clearing through BKM, interchange and merchant commission, and why the merchant gets paid even if the cardholder never pays the card bank.
Merchant & POS
The termination list is a list, fed by all banks, containing merchants whose merchant agreements have been terminated by banks, together with the reasons for termination. This list is maintained by BKM and offered to banks as a service. Merchants request…
Merchant & POS
MIV stands for Central Merchant Database. The MIV Module collects information on merchants across Turkey and the TRNC that have card acceptance agreements with BKM members, and assigns each merchant a unique number for tracking purposes.
Fraud
Chargeback is the process of refunding a credit card payment when the goods or services that should have been received were not, or when transactions not made by the cardholder are identified. In Turkish it is translated as reversal of presentment.
Merchant & POS
All banks report the POS and merchant data they allocate to customers to BKM's MIV and MPV systems, which BKM then reports. These notifications include merchant and POS location details such as address, province, and district.
Fraud
In payment systems, fraud means using someone else's credit or debit card to carry out a transaction at a merchant or ATM, gaining unfair profit and causing loss to the real cardholder, the merchant, or the bank. Fraudsters…