The Regulation on Amendments to the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers (“Regulation”) was published and entered into force on 28.03.2025.
Payment service providers who have payment accounts that may be related to payment services and provide direct online access to their customers for the payment accounts they hold must connect to the Interbank Card Center Inc. within the framework of the principles determined by the Central Bank and provide the necessary infrastructure to all other authorized payment service providers who request it in order to provide payment services regarding the payment accounts they hold.
As of the effective date of this provision, among the institutions that have payment accounts with them, are not participants in the Instant and Continuous Transfer of Funds System and provide direct online access to their customers for the payment accounts with them, those that are among the top ten in terms of payment volume in the 2024 calendar year shall fulfill the obligations that they need to fulfill within the scope of the fifth paragraph of Article 59 of the Regulation until 31/12/2025, and those that will be among the top ten in the following years shall fulfill the obligations that they need to fulfill within the scope of the fifth paragraph of Article 59 of the Regulation until the end of the current year.
Persons that provided digital wallet services before the effective date of Article 4/A of the Regulation and could be included in the category of payment institutions or electronic money institutions but do not have an operating permit must apply to the Central Bank and obtain the necessary permits by 31/12/2025. Institutions that provide digital wallet services must comply with Article 4/A of this Regulation by 31/12/2025.
You can access the full text of the Regulation on Amendments to the Regulation on Payment Services and Issuance of Electronic Money and Payment Service Providers from the link below.
For detailed information and professional support during the compliance process, feel free to contact us.
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