PayPal are aiming to re open their operations in Turkey and have apparently agreed to locate servers in Turkey to satisfy the local authorities, although that might not happen until late 2017. PayPal had to shut down their Turkish operations earlier this year in early June.
It looks like PayPal knew that to comply with Turkish law that they had to have in-country servers. PayPal hadn’t even attempted to do this and that’s why their license was rejected. Now that they’re willing to talk turkey with the Banking Regulation and Supervision Agency (BRSA) over the servers, it looks like they’ll get their license back.
Since June there has been an almost successful coup to overturn the Turkish government demonstrating just how unstable the region is. It’s not hard to understand PayPal’s reluctance to site their servers in Turkey as keeping them securely running online could be tricky.
Not speaking Turkish is proving a bit of a problem in translating the news, so if you speak Turkish and want to peruse the original source you’ll find it at sabah.com. There appears to be some question over how much cross border transaction freedom there will be.
It does look like it’s good news for our Turkish friends. We’ll update as soon as we have more information.
