Payment Services and Electronic Money companies are included in the ecosystem formed by traditional actors such as banks, payment and data security institutions, card manufacturers, mobile operators, information technology providers, terminal and POS manufacturers and service providers. In this ecosystem, the Central Bank of the Republic of Turkey (CBRT), Banking Regulation and Supervision Agency (BDDK), Information and Communication Technologies Authority, Revenue Administration, Financial Crimes Investigation Board fulfill their regulatory and supervisory functions.
Pursuant to the Law on Payment and Securities Settlement Systems Payment Services and Electronic Money Institutions No. 6493 (Law No. 6493), the CBRT’s role in payment systems is to ensure and supervise the operation of payment and settlement systems, while regulating and supervising electronic money institutions and payment service institutions. authority has been given to the BRSA.
Strict regulations and supervision in the payment and electronic money sector have led to solid institutionalization and the development of companies in this sector. The entry of these new players into the sector has made significant contributions to increasing competition and service quality, reducing costs for customers and making banking services easier for those who cannot use them. In addition, licensing requirements and strict procedures have ensured that the number of licensed companies is limited. However, the payment and electronic money market cannot be defined as oligopolistic, as there are currently 34 payment and 15 electronic money companies operating. The differences in the scope of the licenses obtained by the companies also determine the scope of the operations of these companies. In accordance with the Law No. 6493 and the relevant regulation, the following transactions require separate licenses:
Electronic Money Issuance (Article 18 of the Law)
Account Based Payment Services (Article 12/1 of the Law, (a) and (b) embankments): POS services can be provided within the framework of these provisions.
Money Transfer Services (Article 12/1 of the Law (ç) embankment): Providing money transfer service without opening an account.
Mobile Payment Services (Article 12/1 of the Law, subparagraph (d): Payment of goods and/or services over a telephone bill without a credit card or similar payment methods.
Bill Payment Services (Article 12/1(e) of the Law): Intermediary services for paying bills such as electricity, water and natural gas.
Opportunities for Investors
The willingness of leading global players in the sector to enter the promising Turkish market (Naspers is a new example) increases the attractiveness of payment and electronic money institutions for investors. For this reason, comprehensive evaluation analyzes of these companies are required to help both investors and investment-seeking payment and electronic money institutions in determining the prices that will be suitable for both parties.
Services we provide in this context:
- Valuation of the company with financial and market analysis
- Preparation of the analysis in Turkish and / or English
- Presentation of the company to potential investors
- Assisting in the preparation of documents deemed necessary throughout the process, including confidentiality and sales agreements.