The Central Bank of the Republic of Turkey (CBRT) published an Amendment Regulation on Payment Services and Electronic Money on 28 March 2025, introducing new open banking obligations for payment service providers operating in the country. The regulation requires institutions that hold payment accounts to make those accounts accessible through open banking interfaces built on the infrastructure of BKM, Turkey's national interbank card centre, by the end of this year.
The amendment explicitly requires account-holding providers to connect to BKM and give other authorised providers the infrastructure they need to offer payment initiation and account information services.
FAST SYSTEM PARTICIPANTS FACE YEAR-END DEADLINE
Compliance with the open banking requirements has been set at 31 December 2025 for participants in the FAST real-time payments system and for the ten largest non-participant institutions by 2024 payment volume. FAST, launched by the CBRT in 2021, processes instant credit transfers around the clock.
Third-party payment service providers seeking to build account information or payment initiation services will need to connect through the BKM platform rather than negotiate bilateral technical agreements with individual account-holding institutions.
The regulation also addresses the use of standardised application programming interfaces. Institutions required to enable open banking access must connect to BKM in line with principles set by the CBRT.
DIGITAL WALLET PROVIDERS MUST SEEK CBRT AUTHORISATION
A separate provision of the amendment targets digital wallet service providers that are currently operating without formal authorisation from the CBRT. These entities must apply to the central bank and obtain the necessary licences by 31 December 2025, while licensed institutions offering digital wallets must comply with the new wallet rules by the same date.