Deadline for Compliance with Payment Services Legislation Extended

The Regulation (Amending Regulation) Amending the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers (Regulation) and the Communiqué on Information Systems of Payment and Electronic Money Institutions and Data Sharing Services of Payment Service Providers in the Field of Payment Services entered into force through their publication in the Official Gazette dated 27.06.2023 and numbered 32234. Significant amendments introduced by the Amending Regulation and Amending Communiqué are summarized below.

• Prior to the amendment, payment and electronic money institutions operating as of the date of entry into force of the Regulation were obliged to comply with the Regulation until 30.06.2023. With the Amending Regulation, the compliance period is extended until 30.09.2023. In accordance with this, the compliance period with the Communiqué is also extended until 30.09.2023 with the Amending Communiqué.