Papara Card and payment services reopened for use

Papara has announced that the card and payment services it offers to its users have been restored. According to the statement made by the company, Papara Card has been reopened for use, and bill payment and transaction services have also been made available to users.

The statement noted that 24/7 money transfers, precious metal trading, and investment transactions have continued without interruption. It was reported that users can continue to manage their accounts and payments through the Papara application, deposit money into their accounts, and make purchases with their Papara Card.

The company also stated that users can take advantage of the cashback opportunities offered by Papara. The statement included the phrase, "All products and services are being made available to users simultaneously."

Papara had come to the agenda in 2025 as part of an investigation into illegal betting and money laundering, and the Savings Deposit Insurance Fund (TMSF) had been appointed as a trustee to the company. The Central Bank of the Republic of Turkey (TCMB) had revoked Papara's operating license on October 30, 2025.

Following a stay of execution decision by the Ankara 25th Administrative Court, the TCMB lifted the revocation decision on January 21, 2026. Subsequently, Papara Elektronik Para, Papara Teknoloji, Papara Sigorta, and Papara Menkul Değerler, which were under the management of the TMSF-controlled PPR Holding, were put up for sale.

At the end of the tender process, it was decided to transfer the companies to Türkiye Emlak Katılım Bankası, and the Competition Board granted permission for the transfer on May 7, 2026.

News Source: 12punto