FIME Supports BKM to Develop Turkey’s First Domestic Payment Model
- 19.04.2017 11:30 am
Today FIME reported its central role in the development and rollout of Turkey’s first domestic scheme, TROY (Turkey’s Payment Method). TROY is a strategic initiative supported by all Turkish banks and managed by BKM (Interbank Card Center of Turkey). FIME was selected by BKM in 2015 to provide consultancy and training at the launch of the project. FIME was then engaged to define the scheme’s technical specifications, develop the certification body and process, and define test tools prior to the commercial launch of the new scheme for contact payments in April 2016. This was followed by the successful launch of contactless payments in April 2017.
FIME’s test tools are qualified, and laboratories accredited, to support Turkish issuing and acquiring members in integrating with the scheme and launching TROY products and services. FIME is also working closely with payment terminal manufacturers and kernel developers to develop and certify TROY-compliant products.
“We decided two years ago that the time was right and FIME treated us like a scheme from the start,” comments Cenk Temiz, Executive Vice President for Card Payment Systems, at BKM. “Its consultancy, training and local support guided us through the whole process and we successfully launched the second phase of the scheme in April. We look forward to building on our close relationship as we work to drive adoption of contactless and, in time, mobile payments in Turkey.”
“The Turkish market is evolving quickly and the development of a local scheme adds real value to an increasingly sophisticated payments infrastructure,” comments Arnaud Peninon, Vice President, Consulting & Engineering at FIME. “Having been central to the entire project, we are now ideally placed to help issuing and acquiring members to support the scheme. With contact and contactless card payment options already enabled, we are now working with BKM to enable secure mobile contactless payments for Turkish banks and consumers.”