1LINK &BKM (Turkey) conductdigital payments workshop
1LINK (Pvt) Limited (1LINK)organized a workshop on Digital Payments from 06-07 September ’18 which was held at BKM (Interbank Card Center) Turkey Headquarters. The workshop was part of 1LINK’s interregional collaboration initiative for Pakistan’s digital payments industry, which provided a forum for participants to discuss and gain insights on TROY (Turkey’s domestic payment scheme), Turkey’s vision of becoming cashless by 2023 and BKM’s digital payments suite. The workshop was attended by 21 participants, including representativesfrom the regulator (State Bank of Pakistan), five out of top six banks of Pakistan (Habib Bank Limited, United Bank Limited, MCB Bank Limited, Allied Bank Limited and Bank Alfalah Limited), Bank of Punjab and Khushhali Microfinance Bank Limited, alongwith representatives from UnionPay International (UPI), NCR, Gemalto, TPS and 1LINK as proponents of digital payments in Pakistan.
The sessions were conducted by senior leadership of BKM along with their teams, which were insightful for the delegation, covering various product offerings such as BKM Express, TROY and shared POS service from regulatory, product management, market roll-out and business aspects.
In addition to the workshop learning, the platform served as an opportunity for Pakistan payment industry and banks to network and plan collaborative schemes for Pakistan.
About 1LINK (Pvt) Limited
1LINK (Pvt) Limited, owned by a consortium of 11 banks, is the country’s 1st PSO/PSP and largest switch and payment system, providing a host of valuable online banking services like ATM switching, Bills Payment, Inter Bank Funds Transfer, Fraud Risk Management, Switch Dispute Resolution, Global Payment Schemes, PayPak – Domestic Payment Scheme, etc. 1LINK is continuously evolving and adding new products and services to benefit the financial industry.
For more information, please visit: http://1link.net.pk/
About BKM (Turkey)
The Interbank Card Center (BKM) was established in 1990 with the partnership of 13 public and private Turkish banks for providing solutions to the common problems and developing the rules and standards of credit and debit cards in Turkey, within the card payment system. The main activities of BKM are; carrying out the authorization operation between the banks, developing the procedures applicable to the banks in the credit card and debit card sector, forming the domestic rules and regulations, making efforts in relation to provision of standardization and taking the relevant decisions, establishing relations with the international organizations and commissions and representing the members in these organizations when necessary and executing the ongoing bank operations from a single central operation site in a more secure, fast and cost-effective manner. BKM also established TROY, the Turkish domestic card scheme, with an aim to become cashless by 2023 with increased financial inclusion. Currently, TROY cards are accepted at over 2.4m POS terminals, 50k ATMs and e-commerce websites, making Turkey the largest card payment market in Europe. For the first time in Turkey’s history, the number of purchasing transactions per active debit card has exceeded the number of cash withdrawal transactions in 2017.
More information on BKM & TROY is available on http://bkm.com.tr/en/ and https://troyodeme.com/en/