The Turkish central bank temporarily suspended the activities of three electronic payments providers, media reports said on Tuesday.
The Central Bank of the Republic of Türkiye (CBRT) announced that it has temporarily suspended some of the operating permits of Sipay Electronic Money and Payment Services Inc., Vepara Electronic Money and Payment Services Inc. and Fzypay Electronic Money and Payment Services Inc., which operate in the electronic money and payment services sector, a report by finance-focused CNBC-e said.
The report, citing the central bank, said that the activities of the companies above, which are stipulated in subparagraphs (b) and (c) of Article 12 and the second paragraph of Article 18 of Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Intermediary Institutions, have been temporarily suspended.
According to CNBC-e, the number of companies whose activities have been temporarily halted rose to nine with the latest measure. It also mentioned that three companies had their licenses canceled.
