TCMB, Sipay and Other Companies Have Halted Their Activities

CBRT Strikes a Blow to Electronic Money Companies

The Central Bank of the Republic of Turkey (CBRT) has suspended the operating licenses of companies engaged in electronic money and payment services, such as Sipay, ParolaPara, Payco, Vepara, and ParaQR, temporarily.

Increase in the Number of Companies After the Decision

As a result of this decision, the number of electronic money and payment service companies whose licenses have been temporarily suspended has risen to 9. CBRT aims to enhance oversight in the sector with these steps, ensuring user safety.

Developments in the Electronic Payment Sector

CBRT's intervention may raise concerns, particularly regarding crypto and digital payment methods. Companies in the sector are expected to be more cautious about complying with the legal framework.