- Trading Name: Papel
- Legal Entity: Papel (CY) Marketing Services Ltd
TBF FINANCE, UAB
Papel Elektronik Para ve Ödeme Hizmetleri A.Ş.
Papel Exchange OÜ
Papel (UK) Technology Ltd
- Activities: high-risk payment processor
- Location: Lithuania, Turkey
- Regulations: Payment Institution regulated by Bank of Lithuania and application at Central Bank of Turkey
- Key People: Erdogan Akgü, Mehmet Ali Koksa
Papel is a regulated Turkish e-Money institution, which is also authorized as a payment institution in Lithuania.
Papel offers wallets and associated Papel debit cards, including virtual cards (powered by Visa) through its Lithuanian entity. POS solutions are also offered in Turkey.
The website does not provide pricing information.
The Monitox Connection
We have discovered Ferit Samuray as a director in the high-risk payment processor Monitox Ltd, an e-Money Institution regulated with reference number 901012 by the FCA. Monitox is controlled by Estonian Maksim Asanov. A Whistleblower informed us that Monitox is still connected to the “new” Papel Group. We can neither confirm nor deny this
Papel is a regulated e-Money institution. The website provides full details of the operators. Beyond that, we have not found any significant complaints. Therefore, we include Papel in our “Green Compliance” list.