Bulletin on the Communiqué Regarding the Redetermination of the Minimum Equity Amounts of Payment Institutions and Electronic Money Institutions
With the Communiqué Regarding the Redetermination of the Minimum Equity Amounts of Payment Institutions and Electronic Money Institutions published in the Official Gazette dated January 28, 2023 and numbered 32087 (“Comminiqué”), minimum equity amounts determined for payment institutions performing payment services and electronic money institutions have been increased.
Accordingly, the minimum equity amounts have been re-determined as follows:
- 7 million Turkish Liras for payment institutions which provide invoice payment intermediary services as set out in Article 4/1(e) of the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers (“Regulation“);
- 15 million Turkish Liras for other payment institutions except for those rendering services for provision of consolidated information regarding one or more payment accounts of the payment service user within the payment service providers on online platforms provided that the consent of the payment service user is obtained as set out in Article 4/1(g) of the Regulation;
- 41 million Turkish Liras for electronic money institutions.
The Comminiqué will enter into force on June 30, 2023.