FIME Supports BKM to Develop Turkey’s First Domestic Payment Scheme
FIME recently announced its central role in the development and rollout of Turkey’s first ever domestic scheme, TROY. TROY stands for Turkey’s Payment Method, and is a strategic initiative supported by all Turkish banks and managed by BKM.
FIME was chosen by BKM back in 2015 to offer 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 of last year.
FIME’S test tools have been deemed qualified, and their laboratories are accredited, to support Turkish issuing and acquiring members in integrating with the scheme and launching TROY products and services.
“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.”