Regarding payment systems before 2011, card-based payment systems were generally associated with the term. However, in today’s context, with the proliferation of alternative payment methods, infrastructure providers, and the widespread adoption of online and mobile wallets, payment systems are perceived from a broader perspective. In such a situation, it can be confusing to know where to start with payment systems, and you might find yourself needing help with definitions.

What is Payment Systems?

First, a payment system should be understood as a set of tools and software merchants used by online or offline (physical) stores (merchant businesses) to accept payments.  In the physical realm, this includes physical POS devices, cash register POS, or mobile POS. In the digital realm, it involves software for bank Virtual POS systems and payment/e-money institutions to collect payments. Especially for online businesses looking to accept payments, they have two alternatives for processing payments:

  • They may get virtual POS from banks and/or
  • They may work with payment/e-money service providers.

In general, merchants receive payments from payment and e-money service providers at the initial stage. As their payment volumes and turnover increase, they also receive virtual POS from many banks, and in this way, they reduce their costs by benefiting from 360-degree value-added services offered by banks. At this point, with Craftgate payment orchestration, your business can easily manage all banks’ Virtual POS and many payment and e-money institutions from a single center. At the same time, Craftgate gives you the time to focus on growing your business.

Let’s examine the essential information and definitions of payment systems, which will clarify your mind and give you a starting point:

Card Associations

Visa, MasterCard, American Express, Troy, Discover, Diner’s Club, and JCB

It can be described as a network of banks that issue the card and process the payment transaction.

kart kuruluşları logoları

Card Group

Credit Card

These cards with installment and point-earning features allow you to make payments in monthly installments and provide credit within certain limits.

Debit Card

Debit cards, also known as ATM cards, are the cards that belong to your account at the bank. You can shop offline and online if you have money in your account. Installment transactions cannot be made with these cards. When using a debit card, you must pay in advance, primarily 3D Secure payment (online).

Prepaid Card

These cards generally do not have a bank account behind them, and as you load money, you can shop offline and online for the amount you have loaded. These cards cannot offer installments like debit cards, and 3D Secure payment (online) must be made with these cards.

Card Family / Card Brand

Card families or card brands are the group names given to cards issued by banks in agreement with card organizations such as Visa, MasterCard, American Express, Troy, and they offer various features.

Information and Elements on the Card

Cardholder Name

Example: John Black

Card Number

Example: 5127 5400 0000 0002 (16 digits, Visa and MasterCard) or 3744 270000 00003 (15 digits American Express) Note: The card number is 15 or 16 digits and is generated according to the Luhn algorithm.

Expiration Date=Valid Thru=(Expire Year & Month)

Example: 07/15

Security Code (CVC2 = CVV2)

Example: 936 (3 digits on the back of the card, Visa, MasterCard, and Troy) or 7591 (4 digits on the front of the card, American Express)

Card Association Logo

Logo of the card issuer; Visa, MasterCard, American Express, Troy, Discover, Diner’s Club, or JCB.

Issuer Bank & Logo

The name and logo of the issuing bank.

Card Family / Card Brand

The family of the card issued by the issuing bank.

kart aileleri logoları


Stores encrypted information that enhances transaction security by generating unique codes for each purchase.

bonus kredi kartı örneği

After these basics, let’s take a look at the Basic Definitions of Payment Systems.


    Kişisel verileriniz İnternet Sitesi Aydınlatma Metni kapsamında işlenmektedir.

      Your personal data is processed within the scope of the Clarification Text on Our Website.