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Resources

Glossary

Short, clear explanations of the payment, e-document, customer and company-formation terms you'll come across while running your business in Turkey.

Payments

3D Secure

A security standard that adds an extra verification step to online card payments. The cardholder approves the transaction with an SMS code or a notification from their bank during checkout.

Operations

Current Account (Cari Hesap)

An account record showing what you owe to, or are owed by, a customer or supplier. It lets you track how much you've been paid and how much is still outstanding.

E-Documents

E-Archive Invoice (e-Arşiv Fatura)

A type of invoice issued to buyers who are not registered in the e-invoice (e-Fatura) system (for example, individual customers) and reported electronically to the Revenue Administration (Gelir İdaresi Başkanlığı, GİB).

E-Documents

E-Document (e-Belge)

An umbrella term for paper documents issued in electronic form, such as the e-invoice (e-Fatura), e-archive invoice (e-Arşiv Fatura) and e-waybill (e-İrsaliye).

E-Documents

E-Invoice (e-Fatura)

A document issued and delivered electronically between parties registered in the e-invoice (e-Fatura) system, with the same legal validity as a paper invoice.

E-Documents

E-Signature (e-İmza)

A verification method that lets you sign a document electronically, in a legally valid way, instead of with a wet signature.

KVKK

Personal Data

Any information that can directly or indirectly identify a person, such as a full name, phone number or email address.

Payments

Commission Rate

The percentage fee a payment institution charges on every payment you collect. It can vary depending on the card type and the number of installments.

KVKK

KVKK

Turkey's Personal Data Protection Law (Kişisel Verilerin Korunması Kanunu). It sets out for what purposes and how personal data may be processed, and the rights of the individuals concerned.

Company Formation

Limited Company (Ltd. Şti.)

A company type that can be set up with at least one partner, where the partners' liability is limited to the capital they contribute. It is one of the most common company types in Turkey.

E-Documents

Financial Seal (Mali Mühür)

An electronic verification tool, similar to an e-signature, that legal entities use to sign e-documents such as e-invoices (e-Fatura) and e-archive invoices (e-Arşiv Fatura).

Customers

Customer Relationship Management (CRM)

An approach that brings customer contact details, conversation history and requests together in one place so you can manage customer relationships in an organized way.

Payments

Payment Institution (Ödeme Kuruluşu)

An institution authorized by the Central Bank of the Republic of Turkey to provide payment services without a banking license, offering services such as virtual POS and payment links.

Payments

Payment Link

A link you send to your customer that lets them pay by card with one click. It lets you collect payments online without building an e-commerce website.

Operations

Appointment Reminder (SMS)

A text message sent automatically to a customer so they don't forget an upcoming appointment.

Customers

Loyalty Program

A system of discounts, points or rewards offered to encourage customers to buy again.

Company Formation

Virtual Office

A rented office service you can use as your company address: you don't physically work there, but you can list it as your official address for legal notices and registration.

Payments

Virtual POS (Sanal POS)

A payment infrastructure that lets you accept card payments online, without any physical device.

Customers

Sales Opportunity

A potential customer conversation or request that hasn't turned into a sale yet but needs to be followed up.

Operations

Stock Tracking

Keeping a record of the current quantity of the products you sell, so you can see at any moment how many units of each product are left.

Company Formation

Sole Proprietorship (Şahıs Şirketi)

A business type set up by a single person, relatively simple to open and close, where the owner's liability is unlimited.

Payments

Collection (Tahsilat)

The process by which a customer's payment for the product or service you sold reaches your business account.

Company Formation

Trade Registry Gazette (Ticaret Sicil Gazetesi)

The official gazette in which commercial transactions such as company formations, trade name changes and closures are publicly announced.

Company Formation

Tax Certificate (Vergi Levhası)

An official document obtained from the tax office that shows a business's tax registration.

KVKK

Data Controller (Veri Sorumlusu)

The natural or legal person who determines the purposes and means of processing personal data and is responsible for establishing and managing the data filing system.