Choosing an e-commerce payment setup usually boils down to two questions: "Should we use our bank's virtual POS or work with a payment institution?" and "Which one has the lower commission?" The second question matters, but on its own it's misleading. When the money reaches your account, installment options, the refund process and the technical maintenance burden are at least as decisive as the rate. In this article we explain the differences between the two models in plain language before comparing them, and give you a checklist for the decision.
What is a virtual POS?
A virtual POS (payment gateway) is an online card collection service provided directly by your bank. It is the online equivalent of the POS terminal in a physical store. You sign the contract with the bank, and collections go straight to your bank account. There is usually an application and review process; the bank looks at your company's activity, revenue and history.
You can work with more than one bank. In that case, routing each transaction to the relevant bank's virtual POS based on the customer's card (routing by card BIN number) can offer installment advantages, but every bank means a separate integration and a separate reconciliation.
What is a payment institution?
Payment institutions are companies licensed and supervised by the Central Bank of the Republic of Türkiye (CBRT) under Law No. 6493 on payment and securities settlement systems, payment services and electronic money institutions. With a single integration they offer cards and installment options from many banks. The application process is usually faster and the technical setup simpler; providers such as iyzico and PayTR are examples of this group.
When working with a payment institution, it's a good habit to check its license status on the current list published by the CBRT.
Comparison: which one, when?
| Topic | Bank virtual POS | Payment institution |
|---|---|---|
| Application | Bank review, may take longer | Usually faster |
| Integration | Separate for each bank | A single integration |
| Installments | On the bank's own cards | On cards from many banks |
| Payout to your account | Per the bank contract | Per the institution's contract |
| Reconciliation | Separate for each bank | One panel |
| Best suited for | High revenue, a strong relationship with the bank | New stores or those wanting a simple setup |
Many stores start with a payment institution and add their main bank's virtual POS as revenue grows. Using both at the same time is also possible.
Why does 3D Secure matter?
3D Secure is when the cardholder verifies their identity during payment with a one-time code sent by their bank or with approval in the bank's mobile app. It protects both the customer and you against the card being used by someone else. For transactions made with 3D Secure, the allocation of liability in the event of a dispute (chargeback) is also generally more in your favor; read your bank or institution contract for details.
The 3D verification screen means an extra page in the payment step, and technical problems at this step can cause the payment to be abandoned. Monitoring this step and making error messages understandable is an important part of reducing cart abandonment.
Installments and product group limits
In Türkiye, installment sales by credit card are limited by regulation for some product groups, or not allowed at all. These limits change from time to time. That's why you need a platform that can set installment options by product group, and should check the current regulations with your bank or payment institution. Showing the installment table on the product page also helps customers make their decision before they even reach the cart.
Card data and security
Storing card details on your own server is neither necessary nor recommended. Systems that handle card data must comply with PCI DSS, the security standard set by the card schemes, and that is a serious burden. The practical solution is for card details to be entered directly into the secure page or component of the bank or payment institution, never touching the store's server. If one-click payment with a saved card is wanted, this is done by storing a key (token) issued by the institution, not the card itself.
Payment setup checklist
- Is the payout time to your account clearly stated in the contract?
- Can refunds and partial refunds be made from the panel, and how long do they take to reach the card?
- Can installment options be configured by product group?
- Is 3D Secure mandatory, and for which transactions can it be exempted?
- Does card data ever touch the store's server?
- Will alternatives such as bank transfer and cash on delivery be offered?
- How will the daily reconciliation report be transferred to the ERP?
How we do it at Globya
On the IMFLEXI platform, virtual POS integrations for Garanti, Yapı Kredi and Vakıfbank, as well as iyzico, PayPal, bank transfer and cash on delivery, are ready to use; 3D Secure, installments and card BIN lookup are included. We work out together which setup suits you based on your revenue, product groups and cash flow needs; you negotiate the contract terms with the bank or institution, and we handle the technical setup. We cover the requirements for personal data collected on the payment page under KVKK compliance (KVKK is Türkiye's Personal Data Protection Law) at no extra charge. For the overall process, see our e-commerce service page.
Frequently asked questions
Can a newly founded company get a virtual POS?
It can, but the bank's review may take longer and additional collateral may be requested. Starting with a payment institution during this period is a practical way to avoid delaying sales.
Do we need to offer more than one payment method?
Offering at least two options (such as card and bank transfer) reduces the risk of losing customers who can't find their preferred method. Cash on delivery should be evaluated together with the risk of returns and undeliverable orders.
Can I change my payment setup later?
Yes. As long as card data isn't kept on your server, switching is technically simple; the main thing to watch is making sure open refunds and dispute processes are completed with the old provider.
How should I compare commission rates?
Don't look only at the percentage; consider together the payout time, who bears the cost of installments, refund fees and fixed monthly charges. The lowest-looking rate isn't always the lowest total cost.
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