Minimum Equity Requirements for Certain Payment Services Have Been Increased
Pursuant to the Communiqué on the Re-determination of Minimum Equity Amounts of Payment and Electronic Money Institutions (“Communiqué”) which is published in the Official Gazette dated 22.01.2022 and numbered 31727; the minimum equity amounts regulated under Article 33 of the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers (“Regulation”) have been increased for certain payment services. New minimum thresholds regarding the equity are determined as follows:
Thresholds have been increased,
- From 3,000,000 Turkish Lira to 5,500,000 Turkish Lira for the payments institutions which provide invoice payment intermediary services,
- From 5,000,000 Turkish Lira to 9,000,000 Turkish Lira for the payment institutions which provide payments services except for the provision of consolidated data through online platforms regarding the payment account of payment service user under payment service providers,
- From 13,000,000 Turkish Lira to 25,000,000 Turkish Lira for electronic money institutions.
Abovementioned minimum amounts will be in force as of 01.04.2022.
You may find the full text of the Communique here in Turkish.
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