• Home
  • Money
  • Change in Date for Payment Service Providers
Money

Change in Date for Payment Service Providers

2 Mins Read

The Central Bank made a change in the obligation deadline that payment service providers need to fulfill. The Central Bank of the Republic of Turkey (CBRT) has amended the obligation deadline for payment service providers with payment accounts held in the CBRT. The Regulation Amending the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers and the Amendment of the Notification on the Information Systems of Payment and Electronic Money Institutions and Data Sharing Services of Payment Service Providers was published in the Official Gazette and came into effect. According to the new regulation, the third sentence of the ninth paragraph of the temporary first article was changed to “All other payment service providers with payment accounts held in the CBRT shall fulfill the obligations to be fulfilled under the fifth paragraph of Article 59 of this regulation until 31 March 2025.” Furthermore, the new version of the 19th sentence of the temporary first article is as follows: “Individuals who provide digital wallet services before the effective date of Article 4/A of this regulation but are not authorized to operate under the category of payment institution or electronic money institution created under the law must apply to the Bank by 7 April 2025 in order to obtain the necessary permissions. Entities providing digital wallet services must comply with Article 4/A of this regulation by 7 April 2025.” The Notification also changed the third sentence of the second paragraph of the temporary first article of the old notification to “All other payment service providers with payment accounts held in the CBRT shall fulfill the obligations to be fulfilled under the first paragraph of Article 24 of this notification until 31 March 2025.”

Comments are closed

Related News