Turkey’s Central Bank Suspends Operations of Three E-Money Firms

Turkey’s Central Bank (TCMB) has announced the temporary suspension of certain operations by three companies in the electronic money and payment services sector: Sipay, Vepara, and Fzypay.

The official statement indicates that the authorizations for payment services under subsections (b) and (c) of Article 12 of Law No. 6493, as well as electronic money issuance under Article 18 of that law, are suspended.

With this decision, the total number of companies with suspended licenses in this sector has increased to 9.

The affected companies have stated that their other operational licenses (those not covered by the suspension) remain in effect, and they intend to cooperate with the regulator.

Users are advised to contact the support services of these payment platforms to check the status of their accounts and ongoing transactions.