Minimum Equity Amounts of Payment and Electronic Money Institutions Redetermined
02.02.2024
The Communiqué on the Redetermination of the Minimum Equity Amounts of Payment and Electronic Money Institutions (Communiqué) was published dated 27 January 2024 in the Official Gazette.
Pursuant to the Communiqué, the minimum equity requirements of payment and electronic money institutions were re-evaluated for 2024 and determined as follows
- The minimum equity obligation of electronic money institutions increased from 41 Million Turkish Liras to 55 Million Turkish Liras,
- For payment institutions other than those providing the service of providing consolidated information on online platforms regarding one or more payment accounts held by the payment service user with payment service providers, from 15 million Turkish liras to 20 million Turkish liras; and
- The minimum shareholders' equity requirement for intermediary institutions for bill payment services was increased from 7 million Turkish Liras to 10 million Turkish Liras.
The Communiqué will enter into force on 30 June 2024.
Therefore, it is significant for payment and electronic money institutions to increase their minimum capital until 30 June 2024.
You can reach the full text of the Communiqué here (only available in Turkish)
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