The Central Bank of the Republic of Türkiye has revoked the electronic-money institution licence granted to Parakolay Elektronik Para A.Ş. in 2022. Decision 12100/21699, taken on 7 October and published in the Official Gazette on 10 October 2026, cites Article 21(8) of Law No. 6493. The short decision does not state the underlying reason, announce a redemption timetable or name another institution that will receive customer accounts. For international residents and businesses, the practical priority is to preserve records and separate the legally effective Gazette decision from web pages that may update later.
What the decision establishes
The published text withdraws Parakolay’s permission to operate as an electronic-money institution. That permission had been granted by central-bank decision 11285/20884 on 28 July 2022. The new decision is not a temporary suspension notice: it is an explicit licence revocation under Law No. 6493. Users should therefore not rely on an older app-store description or marketing page as proof that the licence remains valid.
What the Gazette does not explain
The notice is only a few lines long. It does not disclose the supervisory findings behind the decision, quantify customer balances, provide a deadline for withdrawals, describe a transfer to another provider or promise that every feature will remain available during an orderly wind-down. Any claim about those points needs a later announcement from the central bank, the company or another competent authority. The licence decision alone is not evidence that a particular customer has lost money.
Why two official-looking pages may conflict
Early on 10 October, the CBRT’s electronic-money directory still displayed Parakolay in its institution table and had not yet added it to the separate revoked-licence list. Parakolay’s own website also continued to describe the company as licensed. Those pages can lag a newly published legal decision. For licence status, the dated Official Gazette decision is the controlling new record; the directory and company wording should be rechecked for updates rather than treated as a contradiction that cancels the decision.
A cautious checklist for account holders
Do not add new funds until the provider publishes clear written instructions. Save the current balance, transaction history, receipts, account number and any failed-withdrawal messages; keep the files outside the app. Use the official e-Devlet CBRT account-ownership service to check which payment and electronic-money institutions report an account in your name. Contact Parakolay only through contact details you can independently match to its official site, and never share a password, one-time code or card PIN with someone claiming to arrange a refund.
Businesses using the wallet or virtual POS
Merchants should document unsettled transactions, chargebacks, reserves and the bank account designated for settlement. Reconcile the provider dashboard with bank statements before changing checkout settings, and prepare an alternative regulated payment route if Parakolay services are interrupted. Do not tell customers that funds have been transferred or guaranteed unless a named authority or provider has issued that information in writing.
Turkey Compass fact-check verdict
Confirmed: the CBRT licence was revoked by a decision published on 10 October 2026. Not confirmed by that decision: why it was revoked, how many customers are affected, when balances will be paid or whether accounts will migrate. The continuing licensed wording on older web pages should be treated as update lag, not as more recent legal authority. This article will be revised if the CBRT or Parakolay publishes a customer process.
Central Bank of the Republic of Türkiye — official electronic-money institution directory →
e-Devlet — TCMB payment and electronic-money account ownership query →