Turkey:
The Transition Period To Comply With The New Payment Services Legislation Extended Until 30 April 2023
06 April 2023
Kolcuoglu Demirkan Kocakli Attorneys at Law
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On 1 December 2021, the Regulation on Payment Services and
Electronic Money Issuance and Payment Service Providers and the
Communique on Information Systems of Payment and Electronic Money
Institutions and Data Exchange Services of Payment Service
Providers in the Field of Payment Services were published and
entered into force. Accordingly, the institutions operating on 1
December 2021 and those that applied for a license prior to this
date and are currently authorized to operate, were obliged to
comply with the provisions of the Regulation and the Communique by
28 February 2023.
As per the amendment to the Regulation and Communique published
today, such transition period has been extended until 30 April
2023.
Originally published February 2023
© Kolcuoğlu Demirkan Koçaklı Attorneys at
Law 2020
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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