Laws & Regulations
What Is a Payment Service?
A payment service means the services offered under Article 12(1) of Law No. 6493. Essentially, it is delivering funds received from a sender to a recipient.
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"Law 6493"
56 articles found
Payment Systems
Which E-Money Institution Can Offer Which Services?
All e-money institutions are authorized to issue e-money under Article 18, paragraph 2 of Law No. 6493. In addition, the payment services they are authorized to provide under Article 12 of Law No. 6493 are shown in the table below.
Payment Systems
Regulation Amending the Regulation on Payment Services, E-Money Issuance and Payment Service Providers Published
Official Gazette No. 32332 dated 07.10.2023 published the amending Regulation and Communiqué covering digital wallets, e-money, share transfers, cloud outsourcing, remote identity verification and card system choice.
Payment Systems
What Are the Areas of Activity of Electronic Money Companies in Türkiye?
All electronic money institutions are authorized to issue electronic money under Law No. 6493. The payment services each one is licensed to offer are listed in the table published by the CBRT.
Payment Systems
Sub-Merchant Transaction Tracking Made Mandatory for Merchant Acquirers
Under the regulation published on 25 September 2020 in Official Gazette No. 31255, institutions that sign merchant agreements must now be able to track transactions at the sub-merchant level.
Payment Systems
I Want to Establish an E-Money Institution in Turkey. How Should I Start?
Let's start by defining e-money. In general terms, e-money is a monetary value stored on a secure technological device (such as a computer disk). E-money is a concept defined under Turkish law through legislation enacted by the BRSA (BDDK).
E-commerce
How Are Payment Services Related to Electronic Money Issuance Taxed?
Expenditure Taxes General Communiqué No. 91 ended the VAT versus BSMV debate for payment and e-money institutions. Under Article 7, e-money institutions pay BSMV on the commissions they collect.
Merchant & POS
How Are Taxation and the Tax Base Determined for Payment Services Related to E-Money Issuance?
When payment and e-money institutions were first set up, their commissions were subject to VAT, but BSMV was also debated. General Communiqué on Expenditure Taxes (Serial No: 91) settled the issue; here is how the tax base is determined.
Payment Systems
Guide Published on Reporting Unauthorized Payment Service Providers to the CBRT
The CBRT has published a guide on reporting persons and institutions that provide payment services without authorization. Under Law No. 6493, offering such services outside the CBRT's published list of payment and e-money institutions is a criminal offense.
Open Banking
Digital Banking Standards are becoming clearer step by step
Digital banking is talked about more every day, and with the BRSA's support in defining its scope, it is about to enter our lives. A 'digital bank' is a credit institution that provides banking services mainly through electronic channels rather than physical branches.
Laws & Regulations
Does an Electronic Money Institution Need a Separate Payment Institution License to Offer Payment Services?
No. An electronic money institution licensed under Law No. 6493 is a payment service provider, so it can carry out the payment services listed in the Law without a separate license.
Laws & Regulations
Which Institutions Can Issue Electronic Money in Türkiye?
In Türkiye, banks within the scope of Banking Law No. 5411 and electronic money institutions licensed under Law No. 6493 can issue electronic money.