The Central Bank of the Republic of Turkey made a new decision regarding Papara and İş Pay. The Central Bank allowed both companies to operate as payment institutions. Two new competitors have been added among payment institutions such as Iyzico and PayTR.
In today’s issue of the Official Gazette, the Central Bank of the Republic of Turkey (CBRT) included two new decisions. These decisions were related to Papara and İş Pay.
CBRT, Papara’s scope of activity to expand allowed. With this decision, Papara will now be able to serve as a payment institution. Also, Here Pay payment institution An operating permit was given to operate as. Thus, among payment institutions such as Iyzico and PayTR in Turkey, Two more companies were added.
The decision regarding Papara stated the following:
Papara Elektronik Para A.Ş. provides payment services specified in subparagraph (e) of the first paragraph of Article 12 of the Law on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions dated 20/6/2013 and numbered 6493. to be approved, to be included within the scope of the operating permit given to Papara Elektronik Para A.Ş. by the Banking Regulation and Supervision Board Decision No. 6862 dated 21/4/2016 to provide payment services and to issue electronic money, to be included within the scope of the Law and 1/12/ According to the first paragraph of the Provisional Article 1 of the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers published in the Official Gazette dated 27/6/2014 and numbered 31676, Repealed Payment Services and Electronic Money Issuance published in the Official Gazette dated 27/6/2014 and numbered 29043. It was decided in accordance with the first paragraph of Article 10 of the Regulation on Payment Institutions and Electronic Money Institutions.
CBRT’s Official Gazette decision regarding Papara from here accessible.
Here is the decision regarding Share:
CBRT’s Official Gazette decision regarding İş Pay from here accessible.