With difference of some other countries, among the payment devices, post-dated cheques which are not payable until the date written on the cheques are widely used in Turkish internal market and; even if the cheque is payable to the holder, the identity of the issuer of the cheque may not always be known by its ultimate holder. For certain, these kind of cheques are always a stable risk factor of internal traders.
On June 15, 2015; the innovative method QR Code Cheque System developped by the cooperation of Turkish Banking Institution, Turkish Union of Chambers and Commodity Exchanges and Credit Reference Bureau/Kredi Kayıt Bürosu (CRB/KKB) has been launched in Turkey to secure the payments made by means of cheque, to decrease the number of bounced cheques as well as to detect fraudulent cheques and accordingly to prevent cheque fraud.
This non-mandatory system, by providing much transparency and a better security for the collections, will facilitate the cheque users’ commercial transactions and will increase cheque usage in secure. Nevertheless, this system will not guarantee the payment and/or future payment performance of cheques or eliminate completely bounced cheques.
It is well known that in daily commercial life, checking whether a cheque is reliable takes very long time. In fact, by means of the QR Code Cheque Report provided by the digital platform application named Findeks; the QR Code Cheque System offers a quick and effective online facility by allowing access to information about the validity of cheque, the credibility of a cheque issuer and his/her payment habit and performance.