The CBRT's regulation on Payment Services, Electronic Money Issuance and Payment Service Providers was published in the Official Gazette and entered into force.
With the regulation made by the CBRT, the Minimum Equity Amount was raised
- from 5.5 million TL to 7 million TL for bill payment institutions;
- from 9 million TL to 15 million TL for payment institutions;
- and from 25 million TL to 41 million TL for electronic money institutions.
The new rule will take effect on 30.06.2023.
You can access the Official Gazette details from the link below:
Why is minimum equity increased?
The equity requirement creates a buffer that protects user funds if the institution incurs losses or experiences an operational problem. As inflation and the size of the sector grow, these amounts are also updated.
Institutions must maintain this amount not only when applying for a license but continuously throughout their operations. If equity falls short, a capital increase is required.
Entrepreneurs should factor this amount, and the possibility that it will be updated, into their business plans. For current amounts, the version of the regulation in force is the reference.
