ABSTRACT
The payment institution is the legal entity authorized to provide and perform the payment service; electronic money institution also refers to the legal person authorized to issue electronic money in order to provide and perform payment services. These two payment services mainly cover transactions such as bill payments, money transfers, mobile payments, money orders, and issuance and acceptance of payment instruments by payment service providers through various substructures. In this article; definitions of these payment models, their place in the payment sector, and the conditions required for their establishment will be mentioned. The main purpose of the article; by emphasizing the place of payment services in Turkish legislation, is to reveal the innovations brought by the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers numbered 39080 published in the Official Gazette on 1 December 2021 and numbered 31676.
In this article; definitions of these payment models, their place in the payment sector, and the conditions required for their establishment will be mentioned.
I. INTRODUCTION
Today, many new methods have come to the fore in the field of payment in commercial life and daily life due to the rapid development of technology. These developments have affected our country as much as the rest of world and they have had reflections in the fields of informatics and law. Developments that emerged as a result of the dynamic nature of electronic payment methods have made it possible to use non-cash payment methods frequently in various commercial and financial transactions. The need of a legal substructure has come to force due to the increasing prevalence of electronic payment methods.
Firstly, general explanations will be made about payment services and electronic money institutions, then, within the scope of secondary regulations regarding payment services, new regulations in the payment sector will be discussed within the scope of the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers published in the Official Gazette (dated 1 December 2021 and numbered 31676).
II. PAYMENT IN THE CONCEPTUAL FRAMEWORK
Payment is generally defined as the transfer between parties of a nominal value deemed acceptable by the buyer1. It is known that money, which is a payment instrument, has been used in different ways from past to present by various actors and organizations to measure value, and many transactions are carried out with this instrument. Among these transactions, the sale and bargain contract of products, services and financial assets basically includes two elements. These elements appear as the performance of the act and the payment in return for the act. Accordingly, the payment can be explained as the fulfillment of the obligation by the payer by money transfer as a result of the performance of the act2.
A. Payment Instruments
Until the 1800’s, the cash payment tool was mostly used as the only tool for all payments. Cash payments emerge as a physical transfer tool that enables instant transfer of value. After the 1870’s, checks started to be used in commercial transactions of high amounts, and finally in 1950, the first credit card that could be used outside the local borders and used instead of cash as a payment tool in different sectors was released and non-cash payment methods became widespread in the years to come. Although cash payment continues to be used as payment tool today, the progress in information and communication technologies in connection with the development of technology has increased the use of non-cash payment tools such as credit cards, bank accounts, mobile payments, online transfers, and electronic money. It is expected that many new digital-based payment instruments will be available in the near future.
A payment instrument is a tool that transfers the nominal value deemed acceptable by the buyer from the payer to the payee. As explained in the article titled “Definitions” of the Law on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions numbered 6493 (“The Law No. 6493”), which was published in the Official Gazette dated 27 June 2013 and numbered 28690, payment instrument means “a personal instrument such as a card, mobile phone, password, etc. determined between the payment service provider and the user and used by the payment service user to issue the payment order”.
B. Payment Services
All of the services offered on payment systems with the use of payment instruments are considered as payment services. The payment service covers the payment made by the user and all kinds of transactions related to this payment3. Payment service is defined in Law No. 6493 in the Turkish law and it is regulated by the provision of Article 12 with the reference made in Article 3, where various activities will be considered as payment services. According to this definition in Law No. 6493, payment services can be summarized as; opening accounts for payment service users, transferring money to domestic or foreign accounts, physical and virtual POS services, issuing physical or virtual prepaid cards, bill payment services, administration and management of all financial accounts through an application within the scope of open banking service, and expenditure to be reflected on the mobile phone bill4.
C. Payment Systems
Payment systems are defined as a structure that includes intermediaries, rules, communication networks and workflows that facilitate the exchange of goods and services and the circulation of money in a region5. According to another definition, payment systems represent an entirety that includes instruments, legal regulations, operating processes and communication networks that facilitate the exchange of goods and services between economic units6. Payment systems have been subjected to various classifications and the most common of these classifications are retail payment systems and wholesale payment systems. While the retail payment system is generally used for customer payments such as checks and credit cards; the wholesale payment system is mostly used for large amount payments7.
III. GENERAL INFORMATION REGARDING PAYMENT SECTOR
The payment sector has a crucial importance for the smooth progress of the financial and economic activities of countries. In this respect, it has become a necessity for countries to legalize the services provided and transactions performed by various institutions in the field of payment in accordance with international standards, especially the European Union acquis.
The Law No. 6493 entered into force and introduced regulations covering three basic areas; payment services and payment institutions, electronic money institutions, payment and securities settlement system as a regulation regarding the payment sector. International practices and standards were taken into consideration and the European Union Payment Services Directive (“PSD”), which is the first regulation in the field of payment services in a global framework, was taken as a basis while preparing Law No. 6493. Thus, concepts such as “payment service”, “electronic money institution”, “securities system” were defined for the first time in Turkish legislation8. Banking Regulation and Supervision Agency (“BRSA”); has assigned the Central Bank of the Republic of Turkey (“CBRT”) for the transactions to be carried out by payment service providers regarding payment systems or securities systems9.
Following the Law No. 6493, the Regulation on Payment Services and Electronic Money Issuance, Payment Institutions and Electronic Money Institutions published in the Official Gazette dated 27 June 2014 and numbered 29043 (“Abolished Regulation”) and the Annunciation on the Management and Supervision of Information Systems of Payment Institutions and Electronic Money Institutions published in the Official Gazette dated 27 June 2014 and numbered 29043 (“Abolished Annunciation”) entered into force, thus, principles regarding the activities of payment institutions that operated without permission until the relevant legislation entered into force were introduced. During this period, as the payment sector continued to develop without slowing down, many amendments took place within the scope of the PSD and the directive was named the European Union Payment Services Directive 2 (“PSD 2”)10.
Turkey’s legislation was also amended in line with PSD 2. The Law No. 7192 on “Amendments to the Law on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions and Certain Law” was published in the Official Gazette No. 30956 dated November 22, 2019 and entered into force on January 1, 2020. Amendments to Law No. 6493 harmonized with international practices and changed the bilateral structure between the CBRT and the BRSA, which envisaged a mutual regulation and control mechanism, the supervision and regulation authority belonging to the BRSA was transferred to the CBRT, thus, gathering this authority under a single roof11. Currently, the CBRT is responsible for the regulation and supervision of payment and securities settlement systems operating in Turkey, as well as the licensing and supervision of payment services, payment service providers and electronic money institutions12. According to the data published by the CBRT on its official website, there are currently 29 active electronic money institutions and 27 active payment institutions13.
The Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers numbered 39080 (“Regulation”), published by the CBRT in the Official Gazette dated 1 December 2021 and numbered 31676, repealed the Abolished Regulation and the Abolished Annunciation and the Annunciation on Information Systems of Payment and Electronic Money Institutions and Data Sharing Services of Payment Service Providers in the Field of Payment Services (“Annunciation”) entered into force and secondary regulations were introduced, which industry stakeholders had been awaiting for a while.
IV. PAYMENT SYSTEMS AND ELECTRONIC MONEY INSTITUTIONS IN TURKEY
A. Payment Institutions
Payment institution refers to the legal entity authorized under the Law to provide and perform payment services, as set out in Article 3/1-oo titled “Definitions” of the Regulation. According to Law No. 6493, a payment institution that requests to operate in the field of payment services will be able to operate on the condition that it obtains permission from the CBRT.
The payment institution is required to fulfil certain conditions set forth in Article 14 of Law No. 6492 in order to obtain an operating license. These are; (i) the payment institution shall be established as a joint stock company, (ii) the controlling shareholders holding ten percent or more of the capital shall have the qualifications required for bank founders under the Banking Law No. 5411, (iii) all of the share certificates shall be registered, (iv) payment institutions intermediating invoice payments shall have at least one capital and other payment institutions shall have at least 2,000,000.00 TL (two million Turkish Liras) capital, ( v) the institution must have man - agement, sufficient personnel and technical equipment, and establish units for com - plaints and objections, (vi) take necessary measures for the continuity of its activities and the security and confidentiality of users’ information, and (vii) have a transparent and open shareholding structure and organizational chart
B. Electronic Money Institu - tions
Electronic Money is a digitized instrument for the electronic storage of monetary value which makes it different from other classic payment methods. As defined in Law No. 6493 and Article 3, paragraph 1-i of the Reg - ulation, electronic money refers to the mone - tary value issued against the funds accepted by the issuer, stored electronically, used to perform payment transactions as defined in Law No. 6493 and accepted as a means of payment by real and legal persons other than the electronic money issuer.
Electronic money institution refers to the legal entity authorized to issue electronic money under Law No. 6493. In parallel with payment institutions, certain conditions are required for electronic money institutions to obtain an operating license which are regu - lated in paragraph 3 of Article 18 of Law No. 6493. Accordingly, electronic money institu - tions are required to; ( i) be established as a joint stock company, (ii) have a sharehold - ing of ten percent or more in the capital and the controlling shareholders shall have the qualifications required for bank founders un - der the Banking Law No. 5411, (iii) all of the share certificates shall be registered, (iv) have a paid-in capital of at least 5,000,000.00 TL (five million Turkish Lira), ( v) have sufficient personnel and technical equipment, (vi) take necessary measures for the continuity of its activities and the security and confidentiality of users’ information, and (vii) have a trans - parent and open shareholding structure and organization chart. Accordingly, electronic money institutions that have the above-men - tioned qualifications will obtain an operating license through the banks operating under the Banking Law No. 5411 and will be able to operate upon the publication of the said license in the Official Gazette.
C. Regulations Introduced by the Regulation on Payment Services and Electronic Mon - ey Issuance and Payment Service Providers
1. Regulations Regarding the Es - tablishment
The license application process, which is regulated in detail in Article 11 of the Reg - ulation, titled “Operating Permit”, is carried out in three stages: the notification phase, the informative review and the final approval.
a. Notification Phase
In addition to the title of the institutions that want to obtain an operating license pursuant to the regulation, the existence of phrases showing that they are a payment institution or an electronic money institution is manda - tory. Applicant joint stock companies are required to initiate the application process by submitting the various forms and notification petitions in the annex of the Regulation to the CBRT before registering their trade names with the trade registry.
The free application in the scope of the Abolished Regulation, has been charged in line with the new regulation in the Regulation and other documents are required to be attached to the notification petition and forms. In order to make an application in this direction, the draft articles of association of the applicant company and the application fee of 500,000.00 TL (five hundred thousand Turkish Liras) and the receipt showing that the legal obligations to be paid in relation thereto have been deposited into the account designated by the CBRT shall be attached to the notification petition. The deposited amount will not be refunded by the CBRT if the application is denied.
Following the notification phase, a document which proves that the application has been received will be drafted by CBRT and within 6 (six) months following the notification of this document to the applicant company, an application should be made to the CBRT regarding the informative review stage
b. Informative Review and Final Approval Stages
While the activity authorization phase following the notification phase previously consisted of a single step, it has become a two-step phase with the entry into force of the Regulation. These are the informative review and final approval stages. Thus, the procedure for obtaining operating permits has become more stringent. If the CBRT approves the informative review phase, a notification must be made for the final approval phase within 120 (one hundred and twenty) days after the written notification regarding the approval. This time can be extended by the CBRT.
An examination will be made on behalf of the applicant company in terms of its management structure, personnel, physical condi - tions of the office used, technical equipment, and document and recording order after the documents and information presented in the final approval process has been examined. If the final approval application is made correctly and approved by the CBRT, the final approval application will be approved and the operating permit will be deemed to have been granted. The decision to grant an oper - ating permit will be valid from the date of its publication in the Official Gazette.
c. License Fee
Following the issuance of the operating license, the institution receiving the operating license shall notify the CBRT within 10 (ten) days from the date of commencement of its operations. Another innovation within the scope of the regulation is that a receipt showing that the license fee of 1,000,000.00TL (one million Turkish Liras) and the related legal obligations to be paid has been deposited to the account determined by the CBRT must be attached to this notification.
2. Regulations Regarding Estab - lishment Activities
Some operating principles are included in Article 14 of the Regulation parallel to the obligations within the scope of the repealed Regulation in order for organizations to con - tinue their activities in a healthy way.
a. Administration
Pursuant to paragraph 4 of Article 23 introduced by the Regulation, it is required that the control personnel, risk management personnel and the board member to whom they will report to should not be the spouse of the general manager and other board members, nor should they be related to the general manager and other board members by blood or affinity, including in the third degree. Additionally, as stated in Article 25, changes regarding the election or resigna - tion of the members of the board of directors and the general manager are required to be notified to the CBRT within 20 (twenty) business days
b. Credit Ban
The credit ban stated in the Abolished Regu - lation has been preserved in the Regulation, and it has also been prohibited for organiza - tions to engage in advertising and marketing activities that create the impression that they are giving credit.
c. Share Acquisition and Transfers
Article 12 of the Regulation requires the approval of the CBRT for acquisitions and transfers of shares of 10% or more of the capital through direct or indirect sharehold - ing, share acquisitions that result in indirect shareholdings exceeding 10%, 20%, 30% or 50% of the capital, share transfers that result in the shareholding of a shareholder falling below these ratios, the establishment and termination of usufruct rights including vot - ing rights, and share transfers with certain characteristics.
d. Owning Shares in Other Companies
Pursuant to Article 20 of the Regulation, it is permitted to hold shares only in institutions that issue electronic money, provide payment services and perform activities that are exempted from the prohibition of commercial activities. However, this shareholding has been made dependent on the fact that it does not constitute an obstacle to the fulfillment of the obligations in the legislation.
In the case of becoming a shareholder, sell - ing owned shares or ending the activities of a company in which shares are held, the sit - uation must be reported to the CBRT within at least 15 (fifteen) days. The CBRT will de - mand the institution to take necessary pre - cautions and the organization will be given a reasonable period of time, not exceeding 90 (ninety) days to take these precautions in the event that the CBRT finds owning a share may have a negative influence on the institu - tion’s actions. If the measures are not taken within the given deadline, the CBRT may re - quest the institution to stop the transaction or, if the transaction has been completed, to revert to the previous status.
e. Risk Management
The article on risk management stated in the Abolished Regulation has been kept and expanded in accordance with Article 27 of the Regulation. Accordingly, the points to be considered regarding the establishment of the risk management system have been detailed and reporting the risk management activities twice a year has been foreseen. It has been stipulated that measures should be taken in order to detect and prevent risks “related to money laundering and terrorism financing” and additionally, the principle that the changes to be made regarding risk man - agement should be established in writing have been regulated.
f. Accounting, Reporting and Independent Audit
Another revised article of the Abolished Regulation is related to accounting. According to Article 28 of the Regulation, institutions are required to report the independent audit reports on their year-end financial statements to the CBRT.
In addition, an institution that is subject to independent audit under other special legislation to which it is subject to will be deemed to have fulfilled its obligation re - garding independent audit under the Reg - ulation if the reports prepared as a result of the independent audit are shared with the CBRT simultaneously with the institution and other relevant authorities. In case the CBRT decides that these independent audit activ - ities are insufficient, the CBRT is authorized to request additional independent audit ac - tivities for the matters it deems necessary. If the CBRT detects any discrepancies in the independent audit reports, it will notify the relevant information and findings to the Pub - lic Oversight, Accounting and Auditing Standards Authority.
g. Business Continuity Plan
In accordance with Article 30 of the Regula - tion, institutions are responsible for creating and regularly testing a business continuity plan that includes scenarios for emergen - cy and unexpected situations that may ad - versely affect the uninterrupted realization of transactions within the scope of Law No. 6493 and the issues related to the elimina - tion of interruptions that may occur in trans - actions as a result of the realization of these scenarios within a reasonable period of time and without data. Mechanisms to be estab - lished in this context and other obligatory matters are regulated in detail in the article.
h. Equity
The provisions related to shareholders’ eq - uity have been revised in accordance with Articles 32 and 33 of the Regulation and the annunciation published in the Official Gazette dated January 22, 2022 and num - bered 31727 and the amounts related to the minimum shareholders’ equity requirement have been amended. Equity is calculated as the sum of the bal - ance sheet items specified in paragraph 1 of Article 32 of the Regulation, deducting the items specified in paragraph 2 of the same article.
The minimum equity amount was deter - mined as 1,000,000.00 (one million Turkish Liras) for payment institutions performing payment services, 2,000,000.00 (two million Turkish Liras) for other payment institutions, and 5,000,000.00 (five million Turkish Li - ras) for electronic money institutions in the Abolished Regulation. With the new Regu - lation, these amounts became 3,000,000.00 TL (three million Turkish Liras) for payment institutions that provide payment services, 5,000,000.00 TL (five million Turkish Liras) for other payment institutions, excluding those that provide account information services, and for electronic money com - panies the amount has been determined as 13.000.000,00 TL (thirteen million Turk - ish Liras). Finally, as of April 1, 2022, these amounts are 5,500,000.00 TL (five and a half million Turkish Liras) for payment institutions providing payment services, 9,000,000. 00 TL (nine million Turkish Liras) for other payment institutions, excluding institutions providing account information services, and 24,000,000.00 TL (twenty-four million Turkish Liras) for electronic money institu - tions with the communiqué published in the Official Gazette dated January 22, 2022 and numbered 31727.
In addition, the Regulation clarifies that the assets given as collateral will not be included in the calculation of shareholders’ equity and states that the regulations on the calculated amount of shareholders’ equity and mini - mum shareholders’ equity will not be applied exclusively to institutions providing account information services
i. Collateral
The collateral article, which was regulated under the Abolished Regulation, has been revised by the Regulation. Payment fund protection accounts and electronic money protection accounts are obliged to keep a certain amount of collateral with the CBRT to be blocked by the relevant bank in order to compensate the rights of fund owners and to fulfil the obligations of the institution aris - ing from Law No. 6493 pursuant to the Reg - ulation. The CBRT will determine the total amount of collateral that institutions are re - quired to hold each year in accordance with Article 36 of the Regulation. The relevant ar - ticle stipulates the minimum amounts to be kept at the CBRT and it regulates that addi - tional collateral may be required according to the number of representatives in collateral calculations.
In case the number of customers is less than 50,000 (fifty thousand), bill payment institutions must keep 2,000,000.00 TL (two million Turkish Lira), institutions other than those providing services for intermediation of bill payments must keep 3,000,000.00TL (three million Turkish Lira) and electronic money institutions must keep 5,000,000.00TL (five million Turkish Lira) as minimum collateral with the CBRT.
If the number of customers is between 50,000 (fifty thousand) and 500,000 (five hundred thousand), the amount of collat - eral required to be kept is 2 (two) times the minimum amount of collateral required to be kept by bill payment institutions, other payment institutions and electronic money institutions; if the number of customers is between 500,000 (five hundred thousand) and 5,000,000 (five million) between 500,000 (five hundred thousand) and 5,000,000 (five million) customers, 3 (three) times the min - imum collateral amount; 4 (four) times the minimum collateral amount if the number of customers is more than 5,000,000 (five mil - lion); and finally, the institution is required to keep a collateral of 500,000.00 TL (five hundred thousand Turkish Liras) for each 1000 (one thousand) representatives that the institution will keep while performing its activities.
3. Regulations on Information and Customer Service
a. Information and Customer Protection
Under Article 41 of the Regulation, the obli - gation to provide clear, plain and readable notification between the payment provider and the customer under the Repealed Reg - ulation has been replaced with the require - ment that the notification must be “in at least twelve-point letters” and “in an understand - able language” .
Article 48 of the Regulation imposes an obligation on payment service providers to prepare electronic or physical information forms for consumers. A consumer information form is a document that should be prepared in clear and easily understandable language, in a manner that can be easily read and should include elements such as information on the rights of the consumer, security and protec - tion measures related to these transactions, the necessity of fair and transparent pricing, and alternative methods of complaint and recourse rights.
The regulation on payments in the Abolished Regulation has been preserved and extended under Article 49 of the Regulation. It had not possible for the payment service provider to charge a fee for the information provided under the Abolished Regulation. The Regu - lation also states that payment service providers cannot claim “fees, charges, commissions or other benefits under any name”.
b. Data Protection
Within the scope of the Regulation, “sensi - tive customer data” is defined in the defini - tions article differently from the Abolished Regulation. Sensitive customer data refers to “personal data and customer security information that is used in the issuance of a payment order or verification of the customer’s identity and which, if intercepted or altered by third parties, may allow fraud or fraudu - lent transactions to be made on behalf of the customer” according to subparagraph 1- ö of Article 3 of the Regulation.
It can be observed that many of the expres - sions stated as explicit consent under the ab - rogated Regulation have been changed to the expression “consent” in the Regulation. It comes to the agenda that the consent mech - anism in the Regulation will not be subject to the provisions regarding explicit consent under the Law on the Protection of Personal Data (“LPPD”) according to the sentence aforementioned in this paragraph.
Various obligations are stipulated in relation to sensitive customer data. Accordingly, providers of payment order initiation and ac - count information will not be able to request and store this data. However, within the scope of some provisions under the Regulation, it is stated that these data will not be considered as sensitive customer data if the explicit consent of the customer is obtained and the necessary security measures are taken. The explicit consent of the customer will be taken in accordance with the LPPD in such cases. These cases are; (i) while under Article 60 the payment initiation service provider may not store the customer’s sensitive data, the name of the payment account holder, the number of the payment account, the number of the payment instrument shall not be considered as sensitive customer data, provided that security measures are in place and the sender has given his or her explicit consent; and similarly (ii) Under Article 61, while the account information service provid - er may not request sensitive customer data relating to payment accounts, the name of the payment account holder, the number of the payment account, the number of the payment instrument shall not be considered as sensitive customer data, provided that security measures are taken and the customer’s explicit consent is obtained.
4. Other Provisions Regulated in the Regulation
The Regulation introduces many innovations in addition to the regulations explained in detail above. These include provisions on the protection of funds, opening of branches, workplace registration system, outsourcing of services, provision of services to minors by the organization, representation of the organization by a representative, regulations on persons with disabilities, one-off payments, framework agreements, fees, costs, commissions or other benefits, and withdrawal of approval of payment transaction.
In addition, many new definitions such as prepaid instrument, anonymous prepaid instrument, card-based payment instrument, and card-based payment transaction have been added, and a new payment service, open banking service, has also been added.
V. CONCLUSION
In this article, the definitions of payment institutions and electronic money institutions, which are non-cash payment methods emerging with the developing technology and whose foundations were laid within the scope of Law No. 6493 on Payment and Securities Settlement Systems, Payment Services. and Electronic Money Institutions, which entered into force in 2013, within the scope of the relevant legislation, the conditions under which they are established, the processes of obtaining an operating license and their place in the payment sector have been discussed. Electronic money institutions and payment institutions, which are obliged to be established as joint stock companies, differ from each other in that electronic money institutions can issue electronic money to the market against funds, while payment institutions do not have such authority. Today, the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers dated 2021, which entered into force within the scope of secondary regulations on payment services, introduced many radical changes regarding payment institutions and electronic payment institutions, such as operating licenses, operating principles and customer services. Since the payment sector has a very dynamic structure, it is likely that new needs will arise in the coming years and the legislation will be revised in accordance.
BIBLIOGRAPHY
CEMAL ERDOĞDU, Avrupa Birliği’nde Elektronik Ödeme Sistemlerindeki Gelişmeler, Bankacılar Dergisi, P. 48, 2004.
DUYGU ERDEM, 6493 Sayılı Kanun Kapsamında Ödeme Hizmeti Sözleşmesi, Master Thesis, Ankara 2021.
ENVER SEDAT GÜLTEKİN, Birer Fintech Oluşumu Olarak Türkiye’de Ödeme Sistemleri ile Ödeme ve Elektronik Para Kuruluşları ve Bir Denetim Modeli Önerisi, 1. Edition, Ankara 2021.
ÖNDER PERÇİN, Sorularla Fintek: Elektronik Para Kuruluşları ve Ödeme Kuruluşları- Açık Bankacılık – Kripto Para ve Kripto Para Alım Satım Platformları, 1. Edition, İstanbul 2021.
TÜRKİYE CUMHURİYETİ MALİYE BAKANLIĞI MALİ SUÇLARI ARAŞTIRMA KURULU BAŞKANLIĞI, Ödeme Kuruluşları – Elektronik Para Kuruluşları Sektör Araştırma Raporu, Ankara 2020.
TÜRKİYE CUMHURİYETİ MERKEZ BANKASI, Ödeme Hizmetleri, https://www.tcmb.gov.tr/wps/wcm/connect/TR/TCMB+TR/Main+Menu/Temel+Faaliyetler/ Odeme+Hizmetleri/Odeme+Kuruluslari (Access Date, 30.05.2022).
TÜRKİYE CUMHURİYETİ MERKEZ BANKASI, Türkiye’de Ödeme Sistemleri, 2014.
FOOTNOTE
1 Cemal Erdoğdu, Avrupa Birliği’nde Elektronik Ödeme Sistemlerindeki Gelişmeler, Bankacılar Dergisi, V. 48, 2004, p. 80.
2 Enver Sedat Gültekin, Birer Fintech Oluşumu Olarak Türkiye’de Ödeme Sistemleri ile Ödeme ve Elektronik Para Kuruluşları ve Bir Denetim Modeli Önerisi, 1. Edition Ankara 2021, p. 46
3 Gültekin, p.50.
4 Önder Perçin, Sorularla Fintek: Elektronik Para Kuruluşları ve Ödeme Kuruluşları- Açık Bankacılık – Kripto Para ve Kripto Para Alım Satım Platformları, 1.Edition, İstanbul 2021, p. 3.
5 Erdoğdu, p. 80.
6 Central Bank of the Republic of Turkey, Payment Systems in Turkey, 2014, p. 2.
7 Türkiye Cumhuriyeti Maliye Bakanlığı Mali Suçları Araştırma Kurulu Başkanlığı, Ödeme Kuruluşları – Elektronik Para Kuruluşları Sektör Araştırma Raporu, Ankara 2020, p. 8.
8 Duygu Erdem, 6493 Sayılı Kanun Kapsamında Ödeme Hizmeti Sözleşmesi, Master Thesis, Ankara 2021, p. 1.
9 Erdem, p. 2.
10 Erdem, p. 3.
11 T.C. Maliye Bakanlığı Mali Suçları Araştırma Kurulu Başkanlığı, p. 2.
12 The Law No. 6493, Provisional Article 3(2).
13 Türkiye Cumhuriyeti Merkez Bankası, Ödeme Hizmetleri, https:// www.tcmb.gov.tr/wps/wcm/connect/ TR/TCMB+TR/Main+Menu/Temel+Faaliyetler/Odeme+Hizmetleri/Odeme+Kuruluslari (Access Date, 30.05.2022)
