PayPal Stops Processing Payments In Turkey

The suspension has caused big disruption

PayPal has announced the suspension of all business in Turkey, following the online payment company's failure to acquire a newly formulated payments license in the country. After the Turkish government took the stance to bring tech businesses under more localised control, new rules were introduced designed to force companies to make their IT systems localised, whilst PayPal currently distributes its systems over several global hubs. In a statement, PayPal said that “supporting [its] customers was very important”, but that it had no choice except to “suspend processing payments in Turkey” due to the required licence being denied. However, whilst customers will still be able to withdraw their money, the suspension of payments is expected to directly affect tens of thousands of businesses and hundreds of thousands of people across the country. 

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