The October 7 decision has been published in the Official Gazette. Parakolay’s website still carries an older notice about a partial suspension of its services.
The Central Bank of the Republic of Türkiye (CBRT) has revoked Parakolay Elektronik Para A.Ş.’s authorisation to operate as an electronic money institution. The decision published in the October 10 Official Gazette terminates the licence granted to the company in 2022.
Licence granted in 2022 revoked
Decision No. 12100/21699 is dated October 7, 2026. The original authorisation was granted under the central bank’s July 28, 2022 decision, numbered 11285/20884.
The notice cites Article 21, paragraph eight, of Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions as its legal basis.
The central bank’s overview of payment services regulation says it has been responsible for regulating and supervising payment services and electronic money issuance since January 1, 2020. Institutions that had not already received authorisation from the Banking Regulation and Supervision Agency must obtain permission from the central bank to begin operating in this field.
The CBRT’s NXT licence published on October 3 was issued under the same law. It authorised NXT to issue electronic money and provide payment accounts, transfers, card services, remittances and bill-payment services.
Company website still carries a suspension notice
A notice on Parakolay’s website says its authority to issue electronic money and provide certain payment services under Article 12 of the law has been temporarily suspended. The same notice states that it retains permission to operate payment accounts and provide money remittance services.
The page displays no date for that notice and makes no reference to the October 7 revocation decision. The text visible during the review could not be verified as a company response to the new decision.
Scope of the latest decision: The Official Gazette notice revokes the electronic money institution licence. The temporary suspension notice on the company website does not establish that account or remittance services remain available.
Reasons and refund timetable not disclosed
The brief published decision does not disclose the supervisory findings that led to revocation. It also gives no figures for customer account balances, details of how or when balances would be returned, or instructions for completing pending payment transactions.
The company’s website notice directs enquiries to bilgi@parakolay.com, but the page reviewed contains no application process or deadline specific to the new decision. The published document provides no basis for concluding from the licence revocation alone that customer funds have been lost or that the company is bankrupt.
