Legal AlertNewsPayment Institutions’ and Electronic Money Institutions’ Minimum Equity Obligation Amounts Have Been Increased

With the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers (“Regulation”) published in the Official Gazette dated 1.12.2021 and numbered 31676, regulations on capital, partnership structure, foundation principles, technical, infrastructure, information security, risk and internal control processes were introduced.

The Regulation also brought with it minimum equity obligations differentiated according to payment service types. Pursuant to the Communiqué, the amounts of these obligations have been increased, the minimum equity amounts according to payment service types are as follows.

• Five and a half million Turkish Liras for payment institutions providing services for intermediation of invoice payments,
• Nine million Turkish Liras for payment institutions providing services other than 4/1-g clause of the Regulation,
• Twenty-five million Turkish Liras for electronic money institutions.

You can access the full Turkish text of the Communiqué from the link below.

https://www.resmigazete.gov.tr/eskiler/2022/01/20220122-21.htm