Turkey's Electronic Money

Press Release

TURK Elektronik Para Inc.
Press Release 2015/4
30 October 2015 Friday

Trust will come with Electronic Money to E-Commerce

In order to ensure the growth of E-Commerce firms and the security of consumers, the aim of the Law No. 6493, which regulates payment services and electronic money institutions, was published and regulated in 2013 and entered into force in June this year. The latest developments in this regard were discussed at the "E-Commerce Summit" held in Istanbul Dedeman Hotel last week. The name sponsor of the event is TURK Elektronik Para Inc. Board Member Özgür Eralp said that the security concern of the operator and the consumer in electronic commerce has been overcome with new legislation.

It is predicted that the global electronic commerce market will reach a record level of 2 trillion dollars in 2017 but in our country predicted volume is 18.9 billion TL. Reason of this figure not being at the desired rate is the problem of "trust" of the Turkish consumer. But now there are payment and collection systems to solve this problem.

Developments related to Payment and Securities Consensus Systems, Payment Services and Electronic Money Institutions Law and subsidiary regulations published and enforced in 2013 and enacted in June this year were discussed in the E-Commerce Summit held in İstanbul Dedeman Hotel. The name sponsor of the event is TURK Elektronik Para Inc. Lawyer Özgür Eralp, a member of the Board of Directors, said that the security concern of the operator of the electronic commerce as well as of the consumer was overcome with the new legislation. Eralp also pointed out that E-Commerce site operators are not only operators, but also consumers, saying that TURKPos and PARAM, which are two products related to the collection and payment side of the subject, and why they are safe.

Eralp stated that the collection is one of the most important components of e-commerce, "If you are going to sell shoes from the internet, you can not sell with cash, you have to get a credit card payment using virtual POS and you have to apply to each bank separately and have their virtual POSs.Because of the security concers of banks, it was difficult for e-commerce operators to comply the technical criteria of banks and integrate their websites to their systems.TURKPos overcome this diffuculties by using its safe and BDDK licensed virtual POS technical infrastructure, e-commerce company in a short period of 6 hours in such websites, including shopping tally from all the bank's credit card brand in Turkey has become can be offered as a payment option.

On the consumer side, mentioning that consumers found a secure payment ability with PARAM. Eralp, "At Turkey trust for payment methods still at % 5-10 percent. When you check colume of e-commerce, you will notice that result of this serious trust issues as not reacing expected volumes.PARAM also focuses on solving this problem. Consumers can see what they spend on with Internet and mobile applications while shopping safely. Expenses can be notified to consumers instantly via sms and e-mail. Moreover, the system can have various discounts and opportunities. "

Özgür Eralp reminded that TURK Elektronik Para Inc. is one of the first licensed companies of BDDK; "There were certain legal regulations in the world of electronic money. We do not have a legal regulation in this direction so far in Turkey. Within the framework EU directives we now have a new law in Turkey. As far e-commerce site, while creating it or while shopping as consumers there was no system to protect you at the background, but there is now, "he noted and pointed out the importance of e-commerce firms working with licensed payments and electronic money institutions published on the official website of the BDDK.

Kliksa General Manager Nevgül Bilsel Safkan, who took part in the E-commerce Summit, while presenting statistics on e-commerce said that, "creating attractive prices by increasing the options plays an important role in the growth of the sector".

N11.com Manager Kadir Özdal said that "the most important element in e-commerce is trust and there can not be loyalty without trust.The concept of trust is a determining factor especially for women consumers."

Ideasoft board chairman Seyhun Özkara warned entrepreneurs that the biggest mistake made was to look at how competitors do that work, while drawing attention to the fact that basic distress at small businesses is, not be accurately framing when and how to take steps .

At submit leaders of e commerce sector share their experiences as well as their stories, Melih Andıç, the name registration marketing director, stated that electronic commerce should not be perceived very differently from traditional commerce and that the methods used here could also be applied to electronic commerce.

E-Commerce submit ended with presentatiions of various firms.

*E-Commerce Volume is the 2014 data published by Tübisad (Bilişim Sanayicileri Derneği) in cooperation with ETİD (Elektronik Ticaret İşletmecileri Derneği) on June 25, 2015.

About Elektronik Para Inc.:

The services of TURK Elektronik Para Inc., which is licensed from BDDK within the frame of Law No. 6493 and published in the Official Gazette, are fulfilled by a strong team.

TURK Elektronik Para Inc. is still presenting BaroKart, AdaletKart and Platin Kart services with its technology which is continue to develop its R&D since 2004. Until today, with "Contactless Smart Cards" and unparalleled payment infrastructure has helped to process a considerable amount of payment transaction. Approximately 1 billion TL was paid through BaroKart, a project that combines Smart Lawyer ID card and electronic wallet.

With the granteed permission as an electronic money company services and unique brands of this services are, virtual pos solutions for e-commerce websites(TURKPOS), bill payment services(TURKVEZNE), Collection Services(TURKTAHSILAT,TURKODEME) and most important authorization of this permit as electronic money issuance (PARAM, BAROKART, ADALETKART, EASYCARD, PLATINCARD).

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