Entities providing epayment and e-money services are granted a license provided they meet certain requirements, including having their operations located in Türkiye through a commercial presence (in the form of a joint-stock company).
"Definitions
ARTICLE 3 – (1) In the implementation of this Law: [...]
t) Payment service provider: Organizations specified in Article 13 of this Law,
u) Payment transaction: Fund deposit, transfer or withdrawal activity carried out upon the instruction of the sender or receiver,
ü) Payment institution: Legal entity authorized under this Law to provide and perform payment services, [...]
z) System: Payment system and securities settlement system,
aa) System operator: The legal entity that is responsible for the daily operation of the system and has the operating license required for system operation,
[...]
Operating permit of the system operator
ARTICLE 5 – (1) The system operator may operate the system within the scope of this Law, provided that it obtains permission from the Bank.
(2) The system operator;
a) Establishment as a joint stock company,
[...]
Payment service provider
ARTICLE 13 – (1) In accordance with this Law;
a) Banks within the scope of Law No. 5411,
b) Electronic money institutions,
c) Payment institutions,
ç) (Added: 17/4/2017-KHK/690-68 art.; Accepted as is: 1/2/2018-7077/58 art.) Postal and Telegraph Organization Joint Stock Company,
is a payment service provider.
(2) Persons other than banks and payment service providers cannot provide payment services.
[...]
Payment institution [2]
ARTICLE 14 – (1) Payment institutions that wish to operate in the field of payment services within the scope of this Law may do so provided that they obtain permission from the Bank.
(2) Payment institution;
a) Establishment as a joint stock company,
[...]
CHAPTER FIVE - Export of Electronic Money through Electronic Money Institutions
Electronic money issuers[6]
ARTICLE 18 – (1) Persons other than banks operating in accordance with Law No. 5411, Post and Telegraph Organization Joint Stock Company and electronic money institutions that are permitted to issue electronic money within the scope of this Law are prohibited from engaging in electronic money issuance activities. [7]
(2) An electronic money institution that wishes to issue electronic money within the scope of this Law may operate provided that it obtains permission from the Bank.
(3) Electronic money institution;
a) Establishment as a joint stock company, [...]" (Law No. 6493 of 20 June 2013 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions [google translation])
Law No. 6493 of 20 June 2013 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions [google translation]
[<a href="https://www.mevzuat.gov.tr/mevzuat?MevzuatNo=6493&MevzuatTur=1&MevzuatTertip=5">Law</a>]