Central Bank revokes operating license of an electronic money company
The Central Bank has revoked the electronic money institution operating license granted to Papel Elektronik Para ve Ödeme Hizmetleri AŞ in 2022.
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The Central Bank of the Republic of Türkiye (TCMB) has decided to revoke the operating license of Papel Elektronik Para ve Ödeme Hizmetleri AŞ.
According to the decision published in the Official Gazette, the authorization granted to the company on October 27, 2022, to operate as an electronic money institution under Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions has been repealed.
It was stated that the decision was taken in accordance with the provisions of the first paragraph, clauses (ç) and (e) of Article 16, Article 19, and the eighth paragraph of Article 21 of the relevant Law.