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Laws & Regulations
When payment institutions and e-money institutions were first established, the commissions they collected from customers were subject to VAT. Because they carry out activities similar to banking, BSMV was also debated. The General Communiqué on Expense Taxes (Series No: 91) resolved this.
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...
Credit Card
With its announcement dated 09.06.2022, the BRSA changed how the credit card minimum payment is calculated: 20 percent of the period debt below a 25,000 lira limit and 40 percent above it. This post covers what banks should do and the likely market impact.
Laws & Regulations
Payment and e-money institutions' commissions were first subject to VAT, until Expenditure Taxes General Communiqué No. 91 settled the matter. Here is how bill payment intermediation is taxed under Article 10.
Merchant & POS
Payment and e-money institutions' commissions were first subject to VAT, but since their work resembles banking, BSMV was debated. Expenditure Taxes General Communiqué No. 91 settled the question.
Merchant & POS
In the first post I explained what closed-loop payment systems are and how they differ from open-loop ones. Many of the replies I received boiled down to one question: how do these systems actually work behind the scenes once a QR code is scanned?
Payment Systems
Digitalization keeps changing the speed and shape of payments. AI-based payment agents pay on their own within user-defined limits and rules, completing transactions without the user initiating any action. This post explains how they work and what to watch for.
Laws & Regulations
BSMV stands for Banking and Insurance Transaction Tax, levied on banking and insurance transactions. This post explains how it applies to payment institutions and e-money institutions under Expense Taxes General Communiqué No. 91, with an example.
Laws & Regulations
A rule-based method has been adopted for setting the maximum interest rates on credit card transactions, using a reference rate based on banks' weighted average deposit rates plus 55 basis points. This post summarizes the method and the rates effective 1 November 2020.
Payment Institutions & E-Money
The new regulation on payment services and e-money issuance, published on 1 December 2021, repealed the 2014 regulation on payment institutions and e-money institutions and the related information systems communiqué. This post summarizes the change and the Article 33 equity requirement.
Payment Systems
Official Gazette No. 32332 dated 07.10.2023 published the amending Regulation and Communiqué covering digital wallets, e-money, share transfers, cloud outsourcing, remote identity verification and card system choice.
Agentic Commerce
Points or habit? Loyalty programs are built on steering human behavior. But if an AI agent starts shopping on our behalf, do points and campaigns still work the same way?