Law on Payment Services and Electronic Money Institutions ... - Turkish Internet (subscription)

Draft Law on Payment Services and Electronic Money Institutions

Accepted commission

electronic money and payment at the end of the law is achieved. Central Bank adopted the draft yesterday evening EFT systems as well as systems such as money and the ICC, PTT perform money transfers, payment services provider, PayPal, like Bitcoin institutions, prepaid card, perform operations such as the sale of prepaid GSM companies operating in the sector and want to show Creating a legal framework for electronic money institutions other.

At the end of e-money and payment are getting the law. Central Bank adopted the draft yesterday evening EFT systems as well as systems such as money and the ICC, PTT perform money transfers, payment services provider, PayPal, like Bitcoin institutions, prepaid card, perform operations such as the sale of prepaid GSM companies operating in the sector and want to show Creating a legal framework for electronic money institutions other.

Under the bill, such as the Central Bank and ICC will be established as joint-stock companies and the operators of the system, subject to permission from the CBRT will operate. Banks, such as the GSM operators, such as electronic money institutions and payment institutions PTT payment service provider will be counted and

license to operate in the BRSA.

not submit payment service persons other than banks and payment service provider. Licence conditions and codes of practice determined by secondary regulations, recognized a certain transition period.

Deputy Prime Minister Ali Babacan told the Commission meetings, a wide range of payment methods depending on technological developments and the emergence of different organizations offering services related to these methods, said: “Our country is the most important payment system, the Electronic Fund Transfer System (EFT) of 2012, the entire process took about 33 trillion dollars worth. This is the amount of GDP in 2012 corresponds to about 23 times,” he said.

Babacan, secure payment and securities settlement systems, the design of these systems to function efficiently and without interruption, the operation and oversight of importance in a manner consistent with international practice and the need to strengthen the legal framework in this area, he said.

bill common rules and standards for the purpose of these systems is to determine Babacan said, “is one of the most important goals of the bill relating to methods of payment are still operating in our country denetlenmeksizin in any form without permission and payment, and the creation of the legislative framework for electronic money institutions,” he said.

details of the bill by clicking here is available.

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