Electronic payment systems entail online financial transactions that utilize some form of a digital currency, such as e-tokens and e-cash. E-payment systems present a number of benefits to both individuals and businesses.

These electronic payment systems allow financial institutions, businesses and the government to offer a variety of payment options to their customers. Some of these systems include automated teller machines, debit cards, credit cards, mobile banking and payment of invoices through the phone. The traditional payment system for business depends mainly on a limited number of business outlets, which are situated in different locations.

The Turkish Post PTT Corporation is recognized as one of the institutions issuing electronic money payment, and in accordance with the Turkish law. As an authorized electronic payment provider, the Turkish Post PTT Corp. will have the opportunity to realize its Pttkart services, whereby it already offers a Bank BIN to its customers, via the cards that will be issued on its behalf. The required membership process will be processed rapidly and the cards will be open to domestic as well as international use.

In addition, the Fast Transit System (FTS) labels, a sort of electronic money transfer, will be used as a new means of payment in Turkey. Due to this amendment in the legislation, the Turkish Post PTT Corp. will now have the opportunity to issue its own cards and quickly enhance its payment services via its online platform.

Source: Turkish Post