Regulating Payment Services and Electronic Money: A Comparative Regulatory Approach With a Specific Focus on Turkish Legislation

Computer Law & Security Review, Volume 31, Issue 3, June 2015, 401-411, https://doi.org/10.1016/j.clsr.2015.03.009

11 Pages Posted: 12 Dec 2018

See all articles by Gonenc Gurkaynak

Gonenc Gurkaynak

ELIG Gürkaynak Attorneys-at-Law

İlay Yılmaz

ELIG, Attorneys-at-Law

Date Written: June 2015

Abstract

This paper aims to provide a comparative overview and evaluation of various legal frameworks for electronic money and online payment matters by mainly evaluating and comparing U.S., EU and Turkish Law, occasionally making a comparative analysis in terms of conformity as to how EU countries assess or accept European Commission (“the Commission”) regulations. By realizing a comparative study, this paper analyses whether the world, especially the EU is on the right path and moving forward while trying to recover ambiguities and faults in EC Directives. This paper also evaluates new regulations in Turkey in both general and comprehensive aspects, and reveals the importance of small differences in the Law compared to the EC Directives and how these do affect Turkey and can make them better.

Keywords: E-Money, Payment Services, Regulation, EU, Turkey

JEL Classification: K24

Suggested Citation

Gurkaynak, Gonenc and Yılmaz, İlay, Regulating Payment Services and Electronic Money: A Comparative Regulatory Approach With a Specific Focus on Turkish Legislation (June 2015). Computer Law & Security Review, Volume 31, Issue 3, June 2015, 401-411, https://doi.org/10.1016/j.clsr.2015.03.009 , Available at SSRN: https://ssrn.com/abstract=3285768

Gonenc Gurkaynak (Contact Author)

ELIG Gürkaynak Attorneys-at-Law ( email )

Çitlenbik Sokak No:12
Yıldız Mahallesi
Istanbul, Beşiktaş 34349
Turkey

İlay Yılmaz

ELIG, Attorneys-at-Law ( email )

Çitlenbik Sokak No:12
Yıldız Mahallesi
Istanbul, Beşiktaş 34349
Turkey

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