Turkey Revokes 15 Payment Licences in 2026 After Parakolay Decision

The Central Bank of the Republic of Türkiye (TCMB) made the Parakolay decision on October 7. It appeared in the Official Gazette three days later. The official notice cancels the electronic money licence originally granted on July 28, 2022.

Parakolay Loses Remaining Authorisation

The October decision cites Article 21(8) of Law No. 6493. This provision allows TCMB to require corrective measures, give an institution up to six months to comply, temporarily suspend its authorisation and eventually revoke it if the measures are not completed. The notice does not identify the specific shortcomings found at Parakolay.

The company’s own website still displays an earlier announcement about a partial suspension. That notice says electronic money issuance and certain payment services had been suspended, while account operation and money remittance remained authorised.

The announcement has no visible date. It also does not reflect the full licence cancellation published on October 10.

Parakolay’s website continues to advertise digital wallets, bank transfers and virtual POS services. Those descriptions should not be taken as confirmation of its current regulatory permission.

11 E-Money Firms and 4 Payment Institutions

15M reviewed the TCMB decision archive and counted 15 licence revocations published between January 1 and October 16, 2026. The central bank’s records show the following distribution:

• February – 7 revocations;
• April – 1;
• June – 1;
• July – 1;
• August – 2;
• September – 2;
• October – 1.

Eleven decisions involved electronic money institutions. Four concerned payment institutions, including Mypayz, Klon, Vezne24 and TRPOS. The count excludes Paynet, whose authorisation ended in January following a merger. TCMB records that case separately from licence revocations.

Parakolay is also listed in the revoked section of the regulator’s electronic money register.

7 Licences Revoked in 2025

In its January supervisory report, TCMB said seven institutions had their licences revoked as a result of its 2025 oversight work. Another 14 had licences suspended.

The 2026 count of 15 is more than twice that figure, although the comparison uses published decision dates for 2026 and the regulator’s supervisory totals for 2025.

The previous revocation concerned Papel, whose licence was cancelled in September. 15M reported that TCMB had moved Papel into the revoked section of its register.

Klon Investigation Involves Illegal Betting Payments

One of the four payment institutions was Klon, whose licence was revoked in February. Istanbul prosecutors separately alleged that Klon had provided virtual POS services to illegal betting websites. According to Anadolu Agency, TCMB inspectors found betting-site names in the company’s transaction records.

The Parakolay decision contains no similar allegations. It does not mention betting operators or identify gambling-related transactions.