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BackCBRT canceled the operating license of TRPOS Payment Organization Inc.
CBRT canceled the operating license of TRPOS Payment Organization Inc.
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AA Güncel46 minutes agoBusiness1 min readTürkiyeView original

CBRT canceled the operating license of TRPOS Payment Organization Inc.

CBRTtrpospayment institution

Quick Look

  • The Central Bank of the Republic of Turkey (CBRT) announced in the Official Gazette that it canceled the payment institution operating permit of TRPOS Payment Organization Inc. with its decision dated 29 September 2023 and numbered 11506/21105.
  • The cancellation of the permission was made based on subparagraph (d) of the first paragraph of Article 16 of the Law on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions.

AI-generated summary

Why It Matters

CBRT grants operating permits to payment institutions within the scope of the Law on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions. TRPOS Payment Institution AŞ received a license to operate as a payment institution on September 29, 2023.

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The CBRT's notification regarding the cancellation of the operating license of TRPOS Payment Organization Inc. was published in the Official Gazette.

Accordingly, TRPOS Payment Organization AŞ's permission to operate as a payment institution, granted by the CBRT decision no. 11506/21105 dated September 29, 2023, within the scope of the Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions dated June 20, 2013, was canceled in accordance with the first paragraph (ç) of Article 16 of the Law.

Open Questions

  • What is the impact of the permission cancellation on TRPOS Payment Organization Inc.'s current operations and customers?
  • Is there any appeal process initiated regarding the cancellation of the permit?
  • Is there a more detailed explanation as to why the CBRT canceled the permit?

Related Topics

CBRT
OrganizationsCentral Bank of the Republic of TürkiyeTRPOS Payment Institution Inc.
PlacesTürkiye
Topicstrpospayment institutionoperating permit cancellationofficial gazettepayment services law
This article was originally published by AA Güncel.

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