PayPal halts operations in Turkey as local authorities reject license application
The PayPal logo is seen during an event at Terra Gallery in San Francisco, California May 21, 2015. REUTERS photoGlobal online payment platform PayPal has announced that it stopped operations in Turkey, as it could not get the necessary license from local authorities, in a written statement on May 30.
“As our license applications to local authorities were rejected and the related authority wanted us to stop our operations in Turkey, we need to take this decision,” said the company.
PayPal noted it would continue its efforts to take the required licenses in Turkey.
Customers in Turkey will not be able to send or receive money through their PayPal accounts as of June 6.
“Our customers can sign in their PayPal accounts and transfer their due balances, if any, in their accounts to their bank accounts in Turkey,” said the company, adding that further details could be found on the company website.