TCMB has suspended the activities of 9 electronic money organizations.

TCMB's Decision on Electronic Money Institutions

The Central Bank of the Republic of Turkey (TCMB) has temporarily suspended the operating licenses of important electronic money institutions such as Sipay, ParolaPara, Payco, Vepara, and ParaQR.

Effects of the Temporary Suspension Decision

With this decision, the total number of companies engaged in electronic money and payment services in Turkey whose licenses have been temporarily suspended has reached 9. This situation is considered an important development in terms of competition in the sector and user safety.

Future Expectations

Following this decision, it is anticipated that other e-money and payment system founders will also review their licensing processes. How the sector will evolve remains a matter of interest.