Announcement on the Expansion of Activity Authorizations for Certain Payment Services and Electronic Money Institutions

“Decision on the Expansion of Activity Authorisations of Aköde Electronic Money and Payment Services Inc." ("Communiqué I"), "Decision on the Expansion of Activity Authorizations of CEO Payment and Electronic Money Institution Inc." ("Communiqué II"), and "Decision on the Expansion of Activity Authorizations of Pratik Transaction Payment and Electronic Money Inc." ("Communiqué III") have been published separately in the Offical Gazette dated 25 August 2023 and numbered 32290 by the Central Bank of the Republic of Turkey (the “CBRT”).

In the Communiqués, the expansion of activity authorizations for the three entities as mentioned above has been regulated. In this regard, Communiqué I approves Aköde Electronic Money Services Inc. to provide payment services in accordance with the provisions specified in Law No. 6493 on the Payment and Securities Settlement Systems, Payment Services, and Electronic Money Institutions Law (“Law”), and thus, to engage in the activities of providing payment services and issuing electronic money, within the scope of the authorization granted by the Banking Regulation and Supervision Board ("BRSA").

Communiqué II and Communiqué III, respectively, lay out the approval for Ceo Payment and Electronic Money Institution Inc. and Pratik Transaction Payment and Electronic Money Inc. to offer the payment services specified in the relevant provisions and engage in the electronic money issuance activities stipulated in the corresponding legal article, in accordance with the Law. The issuance of activity authorizations by the BRSA for the provision of payment services is also regulated in these communiqués.

You may find the detailed provisions of the Cominiqués in the Official Gazette.