Fintech, (Financial Technology), is a new financial industry that uses technology to deliver financial services easier, better and faster. As a result of a rapidly evolving technology the number of companies dealing with FinTech has been increasing rapidly both in Turkey and worldwide.
In this context, the Turkish legislator has published the Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions in order to regulate the procedures and principles regarding payment and securities settlement systems, payment services, payment institutions and electronic money institutions and to ensure trust in the sector.
Law No. 6493 regulates various obligations on payment institutions and electronic money institutions in terms of their internal systems, information systems and activities, especially regarding obtaining operating permits. The working and operating principles of payment systems and payment and electronic money institutions are specified in the Communiqués and Regulations regarding the Law No. 6493.
As GSU, our team provides legal consultancy and advocacy services on the following issues:
• Artificial intelligence (AI)
• E-Commerce and Internet services
• Initial Coin Offerings (ICOs)
• Venture Capital Investments
• Obtaining relevant licenses and permissions
• Mergers and Acquisitions (M&A)