02December2022

Amendments to the Communiqué on Payment Services and Electronic Money Issuance and Payment Service Providers

With the Communique published on the Official Gazette dated 25.11.2022 and numbered 32024, some amendments have been made on the previously published Communique with regards to the information systems of payment and electronic money institutions and data sharing services in the field of payment service providers.

With the new amendments;

Payment Institutions and Electronic Money Institutions would need to be compliant with the statements on this Communique until 28.02.2023. (The duration stated as "within one year" upon the publish date has changed)
Payment service providers that hold payment accounts inside and are among the top ten participants according to their total number in terms of account transactions carried out in Bank Payment Systems in 2020, should fulfill their obligations per the Article 24 of this Communiqué until 28.02.2023. (The duration stated as "within one year" upon the publish date has changed)
Data sharing services whose technical requirements are determined within the scope of the sixth paragraph of Article 23 of this Communiqué, may continue to be provided by using non-standard services until 28.02.2023. (The duration stated as "within one year" upon the publish date has changed)

Briefly, the durations stated as "within one year" to become compliant with this Communique has postponed to 28.02.2023 for the above-mentioned institutions within the scope of the related articles.

Also, within the scope of the regulation, payment and electronic money institutions that are subject to the provisions regarding the currency to be used in payments, would need to be compliant with the legal obligation stating that foreign exchange transactions cannot be made regarding the payment transactions used by the payment service providers in Türkiye, until 01.12.2022.

This Communique enters into force on the publish date.

You can reach the relevant Official Gazette via that link. (In Turkish)

Should you have any queries or need further details, please contact your customer representative.

Author Selma Kıy, Category Taxation Law

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