Our country is among the leading countries in the world in terms of credit card use and ranks second in Europe. The most important feature that distinguishes the credit card from other banking products is the possibility of shopping in installments, that is, the advantage of shifting the debt.
Therefore, business owners who want to ensure that the credit card can serve its purpose will have to make their pos devices open for installments.
Credit Card Usage in Turkey
The person who decides whether or not to open the credit card for installment purchases is the owner of the workplace. Therefore, knowing how much credit card is used in our country before making this decision will help to think more rationally about the commission fees demanded by banks.
According to the data announced in 2016, there are 56 million active credit cards in our country. All of these cards fulfill the conditions of activism and our country ranks second in Europe in terms of credit card usage.
Researches recently reveal that consumers tend to use credit cards to analyze only their spending and if possible, they prefer to pay their spending in installments, especially with interest-free campaigns.
Opening the POS Device to Installments
Before opening the POS device for installment purchases, a good decision should be made with which bank to work with and which bank to join the merchant network. This issue is very important because the campaigns of the banks included in the merchant network are much more strictly followed by the consumers than they think and even the merchant network logo at the door can ensure shopping.
The banks with the most common merchant network in our country are Maximum, Garanti and Axess. Recently, it has created various payment alternatives in Participation Banks and started to provide business owners with the opportunity to make installments without maturity.
After deciding which bank to be included in the member merchant network, the installment feature of the pos device should be activated through the bank branch or call center. Since this may result in additional commission fees, it is not possible to trade without a request or order.
Some banks’ internet-based pos management applications may also allow this to be done by the business owner over the internet. You can find out if the bank you are working with has such an application through the call center and ask them to share their transaction steps with you.
What to Know
The installment feature will not be active for each credit card based on opening the POS device to installments. In order for a credit card to shop in installments from the relevant POS device, a protocol must be signed between the credit card provider and the merchant network. Even if such a protocol is signed unannounced by the consumer or business owner, information about the possibility of installment during the shopping will appear on the screen.
Consumers who use credit cards belonging to participation banks can often complain about not being able to make installments. You can tell them that this is not related to the workplace or pos device, and if they demand, they can call the banks and enable the bank to install the transaction in question.