CBRT grants operating license to electronic money institution in Official Gazette

The decision to grant an operating license to Ziraat Finansal Teknolojiler Elektronik Para ve Ödeme Hizmetleri A.Ş. to operate as an Electronic Money Institution has been published in the Official Gazette.

As a result of the evaluations conducted within the scope of articles 14, 15, 18, and 19 of the Law on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions dated 20/06/2013 and numbered 6439;

It has been decided to grant an operating license to Ziraat Finansal Teknolojiler Elektronik Para ve Ödeme Hizmetleri A.Ş. to operate as an electronic money institution to provide the payment services specified in the following sub-clauses of the first paragraph of Article 12 of the Law:

• a) All operations required for the operation of a payment account, including services that allow for the deposit and withdrawal of cash,
• b) Money transfers, including direct debit transactions, payment transactions made with a payment card or similar instrument, and standing payment orders, including those that are one-off, involving the transfer of funds in a payment account,
• c) Issuance or acceptance of payment instruments,
• e) Services for mediating bill payments,

as well as the electronic money issuance service specified in the second paragraph of Article 18 of the Law (An electronic money institution that wishes to issue electronic money within the scope of the Law may operate provided that it obtains permission from the Bank).

News Source: 12punto