In 1990, a significant milestone in Turkey’s financial landscape was achieved through the establishment of the Interbank Card Center (BKM). This institution was born from a partnership between 13 public and private Turkish banks. Over the years, BKM has evolved into a technology-driven entity, now with the Central Bank of the Republic of Türkiye as its controlling shareholder. Focused on providing secure and efficient solutions for the payment systems ecosystem, BKM plays a crucial role in facilitating seamless financial transactions across Turkey.
BKM’s primary activities include carrying out authorization, clearing, and settlement operations among its members. It also develops procedures for the credit card, debit card, and prepaid card sectors, establishing domestic rules and regulations to ensure consistency and security in payment processing. For more detailed information, you can visit their official website.
One of the groundbreaking services developed by BKM is TechPOS. Launched in 2014, TechPOS was designed to standardize the acquiring business in Turkey, creating a uniform platform for 24 banks and 19 Electronic Cash Register (ECR) companies. This initiative has been pivotal in streamlining payment processing across various banking institutions.
TechPOS is a service that allows the acceptance, processing, and handling of transactions through a single application on a POS device. This application routes transactions via the BKM switch system to the appropriate bank(s), ensuring efficient and secure processing. The system is based on the ISO-8583 protocol and supports multiple acquirers, making it a versatile tool for merchants and financial institutions alike.
One of the standout features of TechPOS is its ability to support all banks quickly through a single POS application. This means that merchants do not need to install separate applications for each bank, significantly simplifying the transaction process.
TechPOS supports a wide range of transactions including sales (both online and offline), contactless payments, voids, returns, installment sales, and various pre-provision operations. Additionally, it allows for the use of loyalty points, installment points, and generates comprehensive reports such as interim summaries, end-of-day summaries, and detailed transaction slips.
The payment interfaces supported by TechPOS are comprehensive, including Chip, MSR, CTLS, NFC, and QR codes. This ensures that merchants can accommodate a wide variety of payment methods, enhancing customer convenience and satisfaction.
In summary, BKM and its TechPOS service have significantly transformed the payment systems ecosystem in Turkey. By providing a standardized, secure, and efficient platform for transaction processing, they have not only simplified operations for merchants but also ensured a seamless payment experience for consumers.
