Has Papel's Operating License Been Revoked? The Central Bank's Decision Is Published in the Official Gazette!
The Central Bank of the Republic of Turkey (TCMB) revoked the license granted to Papel Electronic Money and Payment Services Inc. to operate as an electronic money institution. The decision, which caused a stir in the industry, was officially published in the Official Gazette and entered into force.
This article was translated automatically from Turkish. Türkçe orijinal ›
Papel’s license to operate as an electronic money institution has been revoked. The decision was made in accordance with the relevant provisions of Law No. 6493 on Payment and Securities Settlement Systems, Payment Services, and Electronic Money Institutions.
As previously noted, the license allowing Papel to operate as an electronic money institution was granted by a Central Bank decision dated October 27, 2022, and numbered 11334/20933.
