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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.
Online & Authorization
Account-to-account (A2A) payments can be described as making a payment by transferring money from one bank account to another. Though similar to wire transfer/EFT, combining the transfer with the payment creates a seamless experience.
Merchant & POS
A virtual POS is a payment platform that enables online payments by credit or debit card. Banks also give merchants interfaces for mail order, pre-authorization, cancellations and refunds.
HCE
Tokenization generates secure data from a credit card number, using specific algorithms, for use during authorization. In CNP transactions, it removes the risk of storing or compromising the original card number.
Merchant & POS
Developed by BKM and made available to banks, OPYS centrally supports setting up multi-application POS terminals shared by multiple members, inviting other members, adding or removing them, and managing field company relationships.
Payment Systems
Foreign Currency POS is the POS software that lets merchants process transactions in a foreign currency. Terminals without it can only collect payments in Turkish lira. It comes in two common forms: Multicurrency POS and DCC POS (Dynamic Currency Conversion).
Payment System Institutions
The European Payments Initiative (EPI), formerly known as PEPSI, is an ECB-backed payment integration initiative aiming to build a pan-European payment system and interbank network to rival Mastercard and Visa. Its founding members include BBVA, BNP Paribas, CaixaBank, Commerzbank and others.
Merchant & POS
The Merchant Registry System is the system at BKM that holds information on merchants accepting electronic payments, set up to simplify TR QR Code payment processes and prevent fraud and misuse in payments.
Payment Systems
Soft POS is a POS application that lets merchants accept payments from contactless cards or mobile wallets on Android devices, without needing a physical terminal. Companies market it under various names such as pocket POS or mobile POS.
Payment Systems
Below is information on the products found in the Visa and MasterCard systems and their associated product codes, listed under Product ID (cardProductId).
Merchant & POS
The digital form of Point of Sale (POS) systems is called Digital POS. There is also a software-only subtype called Virtual POS. After Mobile POS (mPOS) and Virtual POS usage became widespread, the term digital POS came to refer to these two products.
Credit Card
According to a survey by the Interbank Card Center measuring card usage habits in Turkey, card usage is increasing every day. Credit card preference rose from 61% in 2015 to 68% in 2017, while cash preference fell from 35% to 27%.