Electronic Funds and Payment Solutions

The remarkable increase in the use of non-cash payment methods and electronic money in the individual and corporate areas in our country has brought many domestic and foreign institutions operating in the fields of payment services and electronic money issuance, and it has become inevitable to establish the legal basis for these institutions. In this context, the Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions in order to regulate the relations between service providers and service providers, to ensure trust in the sector among service providers, and to subject service providers to the permission and control of an authority. ) It was published in the Official Gazette dated 27.06.2013 and entered into force.

The law imposes many obligations on payment institutions and electronic money institutions, primarily on obtaining operating licenses, and on other issues related to their internal systems, information systems and activities. The Communiqué and Regulation issued in relation to the law determine the working and operating principles of payment systems, payment and electronic money institutions.

As Bafa Law Law Firm, some of the services we provide to our clients in order to fully fulfill their obligations arising from the relevant legislation are as follows:

Preparing contract and risk analysis reports specific to the business model they want to implement,
Preparing all kinds of documents and documents necessary for obtaining an operating license in accordance with the provisions of the relevant legislation,
Providing legal consultancy services for service providers and providers,
Follow-up and conclusion of possible violations.