Recent Legislative Amendments in Turkey On Payment Services And Electronic Money Issuance and Payment service Providers

The legislative amendments in Turkey regarding payment services and electronic money issuance, as well as payment service providers, are currently a notable topic on the agenda. This legal bulletin compiles the amendments made in this scope over the last two months for your information.

In this context, the primary amendments to the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers (“Regulation”) and the Communiqué on Information Systems of Payment and Electronic Money Institutions and Data Sharing Services of Payment Service Providers in the Field of Payment Services (“Communiqué” or “Payment Services Communiqué”), as amended by the Official Gazette dated October 7, 2023, and numbered 32332, are tabulated below.

Additionally, published in the Official Gazette dated November 4, 2023, and numbered 32359, and effective from the same date, the Amendment to the General Communiqué of the Financial Crimes Investigation Board (Serial No: 19) by the Communiqué on Amendments (Serial No: 25) (“Amendment Communiqué”) has ensured uniformity in the regulations concerning the acquisition of customers by payment and electronic money institutions through remote identity verification. Detailed information can be found in the last section of this legal bulletin.