Electronic Money and Payment Systems

In Turkey, non-cash payment systems and electronic money usage are rapidly developing at both individual and corporate levels. This growth has attracted the attention of domestic and foreign investors, bringing significant capital inflows to the sector. At Sonmez Law Firm, we provide strategic solutions for all legal needs of organizations operating in this dynamic field.

Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions constitutes the fundamental regulatory framework of the sector. Numerous obligations regarding operating permits, internal systems, information systems, and operational processes exist within the scope of this law.

Our Primary Services in Electronic Money and Payment Services:

• Licensing and Operating Permits: Full-scope management of payment institution or electronic money institution license application processes with BRSA.
• Business Model Analysis: Preparation of project-specific contracts and risk analysis reports for your planned initiatives.
• Regulatory Compliance: Compliance audits with Law No. 6493, related regulations and communiqués, MASAK regulations, and Mastercard/Visa rules.
• Service Provider Relations: Regulation of contractual relationships between integrators and technology companies with payment institutions.
• Violation Monitoring: Proactive monitoring and rapid resolution of potential regulatory violations.

Sonmez Law continues to be your trusted guide in the complex regulatory environment of the fintech ecosystem.