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Turkey Moves towards the Electronic Checks System

: 2016-10-18

Turkey Moves towards the Electronic Checks System
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As a commitment to increase the security of business dealings, Istanbul Chamber of Commerce and the Office of Credit Cards Registration began a wide campaign aiming at identifying the new data matrix checks, which are planned to start dealing with at the beginning of the coming year.

In this context, the two institutions announced that they are planning to increase the security level of these checks, by moving to the electronic checks system in the next step. This announcement came at a symposium held last week under the title of "recent changes in the law of checks, and the project of matrix data checks."

This law will be mandatory by the start of the coming year

Director General of the Office of Credit Cards Registration, Mr. Kas?m Deniz, announced in this context that: "The matrix data checks system will become mandatory by the first of January 2017," adding that small and medium-sized enterprises in particular, and the companies in general, do not have enough capitals and they do not pay their due debts. This would result to decrease their level of trade down to zero, so we must choose our customers who will grant loans carefully, and the way to do that is to use the data matrix checks.

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