Introduction: Are Virtual IBANs Regulated in Turkey? Virtual IBANs have become an increasingly important part of fintech, payment collection, marketplace, treasury and account-reconciliation infrastructure. A business may use a virtual IBAN to provide each customer, merchant, invoice or transaction with a unique payment reference that allows incoming funds to be automatically identified and allocated. Commercial […]
Introduction: Are Prepaid Cards Regulated in Turkey? Yes. Prepaid cards can fall within one of the most heavily regulated areas of Turkish fintech law because a prepaid card may simultaneously constitute: However, not every card loaded with money is regulated in exactly the same way. The legal classification depends principally on where the card can […]
Introduction: International Remittance Is a Regulated Fintech Business in Turkey International remittance has become one of the most significant areas of financial technology. Consumers no longer necessarily visit a bank branch to send money to another country. Modern remittance companies allow customers to initiate international transfers through: Türkiye represents an important market for international remittance […]
Introduction: Cross-Border Money Transfers Are Regulated Financial Services in Turkey International money transfers have become one of the most important segments of the global fintech industry. Consumers and businesses increasingly expect to transfer funds between countries through: Türkiye is a significant market for such services because of its international trade, tourism, expatriate population, foreign investors […]
Introduction: Can a Payment Facilitator Operate Legally in Turkey? Yes, payment-facilitator-style business models can operate in Türkiye. However, there is an extremely important qualification: Turkish law does not provide a standalone regulatory licence called a “Payment Facilitator Licence” or “PayFac Licence.” A company cannot therefore establish a Turkish entity, describe itself as a PayFac and […]
Introduction: Merchant Acquiring Has Become a Core Regulated Fintech Activity in Turkey Merchant acquiring is one of the most commercially important areas of the Turkish payment services market. Almost every online marketplace, e-commerce company, subscription platform, mobile application and physical retailer ultimately requires a mechanism through which customers can pay and merchants can receive their […]
Introduction: Are Payment Aggregators Regulated in Turkey? Payment aggregation has become a central infrastructure model in modern e-commerce. Instead of every merchant independently negotiating and technically integrating with multiple banks and payment service providers, a payment aggregator may provide merchants with a unified payment acceptance infrastructure. Commercially, the model can include: However, the expression “payment […]
Introduction: Are Digital Wallets Regulated in Turkey? Yes. Türkiye now has a specific regulatory framework governing digital wallet services within its payment-services legislation. The legal position changed materially in October 2023, when the Central Bank of the Republic of Türkiye (“CBRT” or “TCMB”) amended the Regulation on Payment Services and Electronic Money Issuance and Payment […]
Introduction: Does Every Fintech Company Need a Financial Licence in Turkey? No. Not every company developing financial technology, payment software, digital wallets, financial APIs or payment-related infrastructure is automatically required to obtain a payment institution or electronic money institution licence in Türkiye. However, the opposite assumption is equally dangerous. A startup cannot avoid regulation merely […]
Introduction: Fintech Compliance in Turkey Is No Longer a Single-Licence Exercise Establishing, investing in or acquiring a fintech company in Türkiye requires substantially more regulatory planning than incorporating an ordinary technology company. A business may describe itself commercially as a: However, Turkish law regulates the actual financial activity performed, rather than the commercial label chosen […]