Cemete Electronic Money and Payment Services is Turkey’s first licensed electronic money organization

Posted by | September 02, 2015 | General | No Comments

shutterstock_184049348_133215131624Cemete and BayPM worked together to design and implement the infrastructure, core system, business and electronic money processes as well as the independent audit and license file preparation for Cemete to become Turkey’s first licensed electronic money organization.

With the second legislation made with law No. 6493 by BDDK, Cemete set out to operate transferring money as a primary operation and focusing primarily on electronic money.

BayPM developed the entire money transfer solution for Cemete including all processes and foreign system integrations. Based on BDDK’s second legislation, Cemete had to fulfill all of the enterprise system infrastructure, security, accessibility, and redundancy principles requirements as mandated to banks. We are proud to announce that the software and system infrastructure passed independent audits.

Cemete business processes are built based on Cobit principles.

BayPM we shared an arduous one year journey with Cemete to accomplish their goal. Congratulations Cemete and we wish you all the best.

Learn more about Cemete: www.cemete.com.tr

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