As the digital wallet application becomes widespread all over
the world, it offers both a global payment instrument and a secure
shopping environment for consumers.
The Regulation on Payment Services, Issuance of Electronic Money
and Payment Service Providers was amended to regulate the
definition of digital wallets and the conditions for providing
digital wallet services on October 7, 2023.
Prior to the amendment, in practice, for organizations with a
significant shopping volume, the digital wallet implementation has
been required to be carried out through payment service
providers.
Both the definition of digital wallet service has been included
in the Legislation and the conditions for organizations providing
digital wallet services have been determined with the legistlative
amendment.
