TCMB expanded Papel's operating license scope

It was announced in the Official Gazette that the Central Bank of the Republic of Turkey (TCMB) has expanded the scope of Papel Elektronik Para ve Ödeme Hizmetleri AŞ’s operating permits. The TCMB’s decision to expand the scope of the company’s operating permit was published in today’s Official Gazette. Accordingly, Papel Elektronik Para ve Ödeme Hizmetleri AŞ’s previously approved payment service activities have been expanded to include “money transfer” and “initiation of payment orders submitted in relation to a payment account held at another payment service provider upon the request of the payment service user.” In addition, the company will also provide the service of presenting consolidated information regarding one or more payment accounts held by the payment service user at payment service providers on online platforms, provided that the payment service user’s approval is obtained.