The expected statement from Papara has arrived: The process has been initiated

Papara Elektronik Para A.Ş. has begun efforts to refund balances in user accounts following the decision by the Central Bank of the Republic of Turkey (TCMB) on October 31, 2025, to revoke its operating license. The company announced that this process is proceeding gradually under the supervision of the TCMB and in accordance with established rules.

In Papara's statement, it was noted: "As is known, the operating license of Papara Elektronik Para A.Ş. regarding payment services and electronic money issuance was revoked by the decision of the Central Bank of the Republic of Turkey (TCMB) dated 30.10.2025 and numbered 11929/21528. Following this decision, the refund process for user and merchant balances held by our organization was initiated gradually as of November 7, within the scope of the opinions and explanations received from the TCMB on 06.11.2025 regarding the determination of procedures and principles for refunds. Within the scope of the relevant legislation, refund and account closure processes are being carried out safely and quickly under the coordination and guidance of the TCMB."

A trustee had been appointed to Papara on May 27, and following this development, its operating license for payment services and electronic money issuance was revoked by the Central Bank on October 31, 2025. The company stated that it has rapidly initiated the refund process to ensure that its users do not experience any grievances.

News Source: 12punto