[quote]PayPal will suspend its Turkish operations within the next week after the country’s financial regulators rejected its license applications—apparently because it does not keep its IT systems in Turkey.
The move will affect businesses in the country that accept PayPal payments as well as Turkish customers wanting to pay businesses in Turkey and elsewhere.[/quote]
[quote]“Customers will still be able to log in to their PayPal accounts and withdraw any balance on their accounts to a Turkish bank account,” a PayPal spokesperson said in a statement emailed to Fortune. “Supporting our customers is very important to PayPal. However, we have no choice but to suspend processing payments in Turkey as our application for a Turkish payments license has been denied by the local financial regulator and we have been instructed to suspend our Turkish business operations.”[/quote]
source: [url]http://fortune.com/2016/05/31/paypal-turkey-suspension/[/url]
Lol AKP advocates free market my ass.
Sounds like they took a gamble in strong-arming PayPal to invest in Turkish IT services but ended up basically just sticking their foot out and handing PayPal the gun.
Nobody wins from this decision. Good work.
[QUOTE=Snowmew;50433128]Sounds like they took a gamble in strong-arming PayPal to invest in Turkish IT services but ended up basically just sticking their foot out and handing PayPal the gun.
Nobody wins from this decision. Good work.[/QUOTE]
Not only does no one win, but businesses big and small as well as consumers all lose the benefits of near instantaneous cashless transfer for goods - as well as the security benefits afforded by Paypal.
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