Retail Payment Systems
In the OIC Member Countries
85
watches and key chains. In 2008, taxis started to accepted contactless payments. A total of 15
out of 29 banks issue and accept over ten million contactless cards (credit and debit) and have
access to more than 60,000 contactless acceptance PoS devices.
In 2013 a process began where all transactions would start with a contactless touch at the PoS.
Some big retailers made the switch and contactless volumes increased dramatically. Retailers,
consumers and banks are all happy with the change. There are now national standards for
banks and for merchants. Any transaction over €20 can be contactless and ten banks offer NFC
cards.
E-commerce volumes in the Turkish market are increasing rapidly, leading the development of
national digital wallet services. Turkish banks also have various mobile payment initiatives
and products including functions such as money being sent by voice, mobile and ATM and
internet integrations. There are also QR code payments and very creative uses of mobile in
terms of peer-to-peer and e-commerce payments.
In Turkey, the mobile PoS and the cash register are being combined in the same device. There
are 300,000 merchants affected and 50,000 already have the new devices. By the end of 2015,
all of the merchants in the country could be using them. So, instead of having multiple
terminals for different cards, they are all being brought together into one type of terminal.
With this new functionality, the transaction comes to the bank and at the same time goes to the
tax authorities as well. The aim is to fight against the grey economy. This is quite challenging
for banks as the old acquiring businesses are changing. Most new devices will support
contactless payments, up from only 10% that presently support NFC.
The government in Turkey is introducing new laws relating to capital requirements. Credit
cards are now under pressure and debit cards are becoming more crucial and rising rapidly in
use.
Other Payments
1. Promissory notes. The promissory note is a popular payment instrument in Turkey with
small and medium-sized enterprises. Promissory notes can be discounted by commercial
banks. Promissory notes are cleared by the ICHs.
2. Postal instruments. Postal cheques and postal money orders are available via the General
Directorate of Post, Telegraph and Telephone (PTT). Postal cheque accounts are often used
by companies to collect recurring payments, and by government institutions to collect tax.
Around 4300 PTT offices provide postal money order facilities. Domestic postal money