BKM Express has undoubtedly pioneered very important breakthroughs in card storage and digital wallets in our country and has become an indispensable payment tool for our shopping.
Promoted as Turkey’s digital wallet, BKM Express was launched by the Interbank Card Center (BKM) for secure and fast shopping on the internet.
It had been thought that the exemption granted to BKM Express, which provides a card data storage service in partnership with banks, would lead to economic and technical progress. Later, as competition in card data storage services developed, it was decided to lift this exemption.
In short, the Competition Authority had decided to terminate the BKM Express service.
The last day for BKM Express, whose service the Competition Authority had decided to terminate, was 30 June 2020.
So what is the latest situation?
Based on the Board decision taken on this matter, the decision to terminate the BKM Express service has been revoked, and BKM Express will continue.
“It was decided to revoke the Board decision dated 07.11.2019 and numbered 19-38/563-232, as amended by the Board decision dated 30.05.2019 and numbered 19-20/291-126, which concluded that, since the BKM Express service offered by the Interbank Card Center does not meet the conditions set out in Article 5 of Law No. 4054, no exemption can be granted to this activity; that the exemption granted by the Competition Board decision dated 23.09.2016 and numbered 16-31/525-236 should therefore be withdrawn under Article 13 of Law No. 4054; and that the Interbank Card Center must stop providing the BKM Express service by 30 June 2020.”
Considering the momentum BKM Express has brought to payment systems and the steps taken toward becoming a national wallet, I think continuing the service is the right decision. May this decision be beneficial for our country and our nation, and here is to plenty of transactions with the digital wallet :)
The statement published on BKM’s website about this matter can be found below.
https://bkm.com.tr/rekabet-kurulunun-bkm-express-karari-hakkinda/
