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ARTICLE · 08 DECEMBER 2020

Leaving The Scene To The Regulator: The TCA's Paradigm Shift Towards Fintech

Balcioglu Selçuk Eymirlioglu Ardiyok Keki Attorney Partnership
Balcioglu Selçuk Eymirlioglu Ardiyok Keki Attorney Partnership
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The Turkish Competition Authority (TCA) has recently taken a decision that may potentially undo its previous steps to open up the market for payment systems.

TurkeyAntitrust/Competition Law
Sahin Ardiyok
Sahin Ardiyok
Ramiz Arslan
Ramiz Arslan
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The Turkish Competition Authority (TCA) has recently taken a decision that may potentially undo its previous steps to open up the market for payment systems. With this recent decision, the TCA is stepping aside to let the regulation and sectoral regulators maintain competition in the payment services market.

The TCA recently abolished its withdrawal decision on Interbank Card Center (BKM – Bankalararasi Kart Merkezi). The now abolished decision was withdrawing the individual exemption of the BKM Express service of the BKM. Due to the abolishing of the withdrawal, the BKM will benefit from the previous individual exemption for its BKM Express service.

What is BKM Express?

BKM was a partnership of public and private Turkish banks that aims to develop rules and standards within the card payment system. Turkish banks issuing credit cards are members of BKM, while BKM Express is a service that is open for these members. The main business of the BKM is the settlement

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