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Merchant & POS
A Z Report is a report taken at the end of the business day, bearing a sequential number, that gives detailed information about sales made using a cash register during a business day, the revenue earned, and the VAT collected.
Payment Systems
Offline transaction parameters are divided into two types: contact offline and contactless offline. These parameters can be managed separately through Terminal data and Chip data. Offline transactions can be reported to the HOST after an online transaction, after X occurrences, and more.
Laws & Regulations
This guide sets out the procedures and principles for reporting suspicious transactions for obliged parties other than the groups individually listed in the AML regulation, such as banks and insurers.
Payment Systems
MASAK has published a report on the money laundering and terrorist financing risks of obliged parties that are not financial institutions under Law No. 5549.
E-commerce
The E-Marketplace Platforms Sector Inquiry Preliminary Report, published by the Turkish Competition Board, is very valuable for understanding the development and current state of e-commerce.
Payment Institutions & E-Money
Under Law No. 6493, payment institutions and e-money institutions may operate only with BRSA permission. This post explains the BRSA circular on the format of the independent audit report required with operating permit applications under Article 8 of the Regulation, and where to find it.
Payment Institutions & E-Money
The “Review Report on Financial Technologies in Payment Services”, prepared after a study launched on 9 November 2020 to assess Türkiye's payments fintech ecosystem and its effects on competition, has been published.
Payment Systems
The CBRT has published a guide on reporting persons and institutions that provide payment services without authorization. Under Law No. 6493, offering such services outside the CBRT's published list of payment and e-money institutions is a criminal offense.
Payment Institutions & E-Money
Applications for electronic money and payment institution licenses have risen sharply with technology and digitalization, and obtaining the operating license can be the most tiring part. Here is where to find the application form.
Credit Card
KKB was established, under banking law, to enable the exchange of all kinds of information and documents among at least five banks, and it also shares credit information about customers. The Credit Bureau of Turkey also serves deposit banks, participation banks, financial institutions, and more.
Payment Systems
In POS applications and on the merchant side, we use the term Batch in a similar way to end of day. Every transaction made via POS is held under a batch number reported to the HOST at end of day.
Merchant & POS
Partial authorization lets an issuer approve part of the requested amount when the card lacks the full balance, with the rest paid another way. This post covers the technical, receipt, clearing, reconciliation, merchant and certification requirements for acquirers.