Important points in electronic payment gateways in Turkey

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2021-06-10

This article is the second part of the first article that we published in the name of the most important electronic payment methods in Turkey. For those who did not read the previous article, we advise them to read it so that the picture is more comprehensive.

The Republic of Turkey is considered one of the best countries in the world in the field of digital financial markets and ranks first in the world in terms of diversity of means. For this reason, business owners must keep pace with the digital financial market due to the increasing expansion of this market and obtain electronic payment services to start buying and selling operations for various products and services.

As we mentioned in the previous article, those who want to receive money electronically must open a virtual payment point at a Turkish bank or Turkish electronic payment gateways.

As Alameer Media, we note that those who want to take this step should take into account the following:

The marketer should only display the original products on his online store and not display any counterfeit product because it will be a reason to deprive him of the virtual point of sale service.
Ensure that your own company is not owed any backlog or overdue payments to anyone, especially tax payments, otherwise owning a virtual point of sale is very difficult.
The bank or the virtual payment gateway will study your submitted request and evaluate the business and its risks, thus it will look at the company’s debts and previous cases in the courts and inspect the financial movements within the company’s account and the volume of financial transactions from withdrawal and deposit.
The study of the application submitted to establish a virtual point of sale will take from seven to thirty days, and Prince Media advises you to review the bank or the electronic payment gateway to which you submitted an application to inquire about the status of the application after more than ten days have passed.
If the request is rejected by a bank or payment gateway, this does not mean at all that your request will be rejected by another bank or other electronic payment gateway, as there is no specific and clear standard that determines which party will accept your request.
The case of business that requires specific features, it is imperative that you clarify them from the beginning so that they are studied within the submitted application so as not to wait without interest. An example of these features (payment using non-Turkish cards, payment and receipt of payments in the same paid currency without conversion to Turkish lira also payment in installments .. ...)
The bank may request the creation of a trial user in order for the bank employee to log into your site and see the internal management of the site, and you are not supposed to create an account with wide powers within your administration panel, but rather ask to create an account with limited validity.
The bank or electronic payment gateway may ask you to create special pages within the site such as the privacy policy or service agreement.....

Get the money you paid me via the payment point:

This is done through your bank account number so that the funds are transferred to the company's account in an electronic form with ease and ease.

But you must wait at least one week and at most three months, and this is something that you should inquire about from the beginning, and it is negotiable with payment gateways and banks.

How do I choose between one bank and another, or one payment gateway and another:

The percentage of commission charged by the donor, as the percentage is usually lower at banks compared to payment gateways.
How long does the money received from customers remain frozen in the bank's treasury until it is transferred to the company's account, which is called the time of the block (freezing) of funds.
Usually the percentage of the commission deducted is proportional to the block time in reverse, if the waiting time is short, the commission percentage is large and vice versa, and this is something that can be discussed with the donor and agreed upon from the beginning, and it is not a fixed matter for everyone, but it is negotiable.
Does the donor provide all the benefits you are looking for unconditionally or with conditions.
How many subsidized installments can be offered to the customer and how much is the commission percentage for each installment.
It is preferable for owners of medium and large businesses to go to banks instead of payment gateways, for example if your monthly payments amount to 100,000 thousand Turkish liras and above, we advise you to go to the banks.
It is not possible to prefer or give preference to one electronic payment gateway over the other except through the prices of the services it provides to you. You must choose the party that achieves your goals at the lowest cost. In terms of quality in the service, everyone is considered acceptable and close to the other.
In an upcoming article, we will talk about some of the features that affect your e-commerce business.

Alameer Media wishes you continued success and success, and that we have provided you with useful and valuable information. Thank you for your time.