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ARTICLE · 20 AUGUST 2014

Payment & Security Settlement Systems And E-Money Insutitions In Turkey

ADMD/Mavioglu & Alkan Law Office
ADMD/Mavioglu & Alkan Law Office
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ADMD/Mavioglu & Alkan Law Office

ADMD/Mavioglu & Alkan Law Office

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The law regulating electronic money and electronic payments in Turkey, namely the Law on Payment and Security Settlement Systems, Payment Services and Electronic Money Institutions No. 6493 entered into force as of June 27, 2013 following publication at the Official Legal Journal dated June 27, 2013 and No. 28690

TurkeyFinance and Banking
Bilge Zeynep Yilmaz
Bilge Zeynep Yilmaz
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The law regulating electronic money (e-money) and electronic payments (e-payments) in Turkey, namely the Law on Payment and Security Settlement Systems, Payment Services and Electronic Money Institutions No. 6493 (the "Law") entered into force as of June 27, 2013 following publication at the Official Legal Journal (Gazette) dated June 27, 2013 and No. 28690.

This Law introduces a new regulatory framework which covers the procedures and principles of payment and security settlement systems, payment services, payment institutions and electronic money institutions. Within its framework, it establishes new definitions and licence requirements, which will require certain organisations to take further action in order to achieve regulatory compliance for the purposes of providing e-money services.

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