A statement was made about how PayPal, the online payment service company that was withdrawn from our country in the past years, can return to Turkey. IMM Assembly Member Taylan Yıldız stated that this can be achieved without changing the existing law and called the Central Bank.
It is a well-known fact that the use of the Internet is increasing rapidly all over the world, and people are now using digital media to get their work done. When this is the case, we may need the use of the internet for payments that we make quite often in our daily lives. Therefore also digital payment services companies are of great importance.
online payment company PayPal is one of the companies that provide this service globally. Unfortunately, this service ended its activities in our country in 2016. Now, IYI Party IMM Assembly Member Taylan Starwith a statement made a call for the platform to start serving in our country again.
It may be possible for PayPal to return to Turkey without changing the law
Yıldız made a statement on social media. Central Bank Governor Şahap Kavcıoğlu called out. Stating that they are conducting research for PayPal to be opened in the country, Yıldız said that without changing the law noted that it might. It was stated that the necessary solution could be achieved with two items;
In the first clause,Inclusion of a licensed partner as an intermediary in the payment flow for Turkey-based and international transactions‘, in the second item ‘Allowing PayPal representation through virtual office and law firm’ took place. It was stated that when these were provided, the giant company could return to our country with the approval of the Central Bank without changing the law.
In addition, it was stated in the explanations that if the necessary solutions can be applied, the money transfer can be made through the domestic company in the background, and the transactions with the intermediary institution in the background will enable the customers to only deal with PayPal. In the statements stating that the relevant companies were brought to the table and the establishment of the system, young people want to do business abroad; however, it was also stated that they could not do this because they could not get paid. For this reason, the Central Bank was called.
Why was PayPal shut down?
in May 2016 In the official statements made by the company, it was stated that PayPal services would be stopped in our country. As you can imagine, the closure of this system, which is used by the whole world, in Turkey caused great reactions.
In a statement the company made, From the Banking Regulation and Supervision Agency (BDDK) He stated that his failure to receive acceptance for his license application affected the decision. The reason for this is the BRSA’s inability to control the money flow on PayPal, the desire to keep financial data in Turkey; however, the company was shown not to do so. As a result, it was reported that the BRSA ordered the company to cease its operations.
What does Paypal do?
As we mentioned earlier, it is becoming more and more common to transact over the internet day by day. Here in Paypal using or not using credit card via email addresses online payments allows you to do. The fact that the service is used worldwide and characterized as secure also shows that the service provides great convenience to users in international payments and money transfers.
However, it is stated that PayPal, like many digital payment systems, can be used for malicious purposes such as ‘money laundering’ even though the company has strict policies against it, and it may have deficiencies in this regard.
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