How much capital is required to establish a payment institution or e-money institution?
Pursuant to the second paragraph of Article 14 of Law No. 6493;
-The paid-in capital of payment institutions that will obtain an operating license solely to intermediate bill payments must be at least one million Turkish Lira,
-The paid-in capital of other payment institutions must be at least two million Turkish Lira,
-The paid-in capital of e-money institutions must be at least five million Turkish Lira.
The capital must be free of any collusive transactions and must be paid in cash.
At the licensing stage, it is not possible for the capital to be merely committed by the shareholders, nor can it be paid in kind.
In addition, payment institutions that obtain an operating license solely to intermediate bill payments under subparagraph (e) of the first paragraph of Article 12 of the Law must, after obtaining the operating license from the Board, deposit collateral of one million TL with the CBRT (Central Bank of the Republic of Turkey), either in cash or as government domestic debt instruments (treasury bills/bonds).
