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ARTICLE · 22 SEPTEMBER 2020

Regulation On Generation And Use Of TR QR Code In Payment Services Has Been Published

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The Regulation on Generation and Use of TR QR Code in Payment Services prepared by the Central Bank of the Turkish Republic has been published in the Official Gazette dated 21 August 2020 and numbered 31220, ...

TurkeyFinance and Banking
Moroğlu Arseven
Moroğlu Arseven
Sevi İslamageç
Sevi İslamageç
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The Regulation on Generation and Use of TR QR Code in Payment Services ("Regulation") prepared by the Central Bank of the Turkish Republic ("Bank") has been published in the Official Gazette dated 21 August 2020 and numbered 31220, entering into force on the same date.

The Regulation determines the procedures and principles for services fall into the scope of payment services within the scope of the Law on Payment and Securities Settlement Systems, Payment Services, and Electronic Money Institutions numbered 6493 ("Law") and rendered by using a QR Code, besides generation of TR QR Code.

With the Regulation, the Bank aims to standardize the payment transactions, enhance the use of a common QR code in retail payments, as well as initiating practical, easier, more efficient, and safer payment transactions.

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