Electronic Money In Turkey

Using alternative payment methods and electronic money systems has become a necessity as a result of the quick development of electronic trading today. As is known, money is an exchange instrument issued by the state, used for buying goods and services, and accepted by everyone. The electronic money concept has gained a very big importance to the electronic trading users to start using alternative payment methods for their online payments. In general, electronic money can be described as the monetary value corresponding to the cash money in computer environment and developed for being used online. It is defined as "electronic money is the monetary value issued against a fund accepted by the issuing institution, stored electronically, used for carrying out the payment transactions defined by this Law, and accepted as a payment instrument by the real and legal entities other than the institutions issuing electronic money" in the Law No. 6493 on Payment and Security