The Central Bank of Turkey has revoked the licenses for providing services of electronic payment services Pay Fix, İninal, and Aypara. The regulator's resolution was published in the official government publication Resmi Gazete.
Following this decision, the services of Pay Fix, İninal, and Aypara have been suspended.
Why did Russians choose Turkish platforms?
These services were convenient for making international payments. Russians could quickly top up their accounts and make cashless payments in stores and online. They did not need to open an account in a Turkish bank.
For example, in Papara, Russians opened accounts remotely. They used their foreign passports for verification. This functionality was relevant after the blocking of bank cards issued in the Russian Federation abroad.
A source in the Turkish government stated that the volume of transfers through Papara has decreased recently. He expressed confidence that new players will soon appear in the market.
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