According to the decision published in the Official Gazette and entering into force, the license allowing Papel Elektronik Para ve Ödeme Hizmetleri A.Ş. to operate as an electronic money institution has been officially revoked. The revocation decision was reported to have been made at the meeting of the Central Bank’s Monetary Policy Committee and Board of Directors on September 18, 2026.
In its official statement, the Central Bank of the Republic of Turkey (TCMB) noted that the decision was taken within the framework of Law No. 6493 on Payment and Securities Settlement Systems, Payment Services, and Electronic Money Institutions. The revocation was justified on the grounds that the company had failed to meet the conditions set out under the relevant clauses of Article 16, paragraph one, as well as Articles 19 and 21 of the said law, and had been unable to fulfill its regulatory obligations.
