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Paypal has stopped transactions with Turkey

Discussion in 'Business & Economics' started by Zanna, Jun 1, 2016.

  1. Zanna

    Zanna Member

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    They just announced it on their website, and say that it's because they couldn't get the licence from the local authorities.

    In the Paypal announcement there's also mention that all users registered in Turkey will not be able to perform any transactions by June 6th, thus it is advised for all of them to withdraw their paypal balance back into their bank accounts before that.

    Source: http://en.webrazzi.com/2016/05/30/paypal-halts-operations-in-turkey/
     
  2. Reddie

    Reddie Member

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    Does this mean that Turkey and the U.S no longer are allies? I mean why refuse to grant operation license to Paypal when they'd be collecting some taxes from the company?

    Paypal apparently isn't the only U.S company that will be "punished."

    http://www.defensenews.com/story/de...verge-over-procurement-and-security/85195368/
     
  3. Zanna

    Zanna Member

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    I think it's not as clean cut as the two countries being enemies. Remeber that Twitter and Facebook are also limited in their function in Turkey, and it's more about Erdogan's powerplay to try and extort money out of these companies to allow them to function in his domain, the same way that he tries to do with leaders of other countries.

    In the past Paypal was working just fine, and it's not like they are a social media that insults Erdogan's face, Paypal is crucial for many businesses to run exports and imports. He's basically crippling several millions of turkish entepreneurs.
     
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  4. Reddie

    Reddie Member

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    I wonder why Turks can't get rid of Erdogan. There's not much has done for Turkey. There are some who speculate that he's well on his way to becoming a dictator. But as for them refusing to grant Paypal an operation license it's their loss.
     
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  5. Alexia

    Alexia Member

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    The Turkish issue is a problem for people in Europe, especially as the EU has made deals with them in regards to the migrant situation. The ever closer problems of visas and freer movement for Turks could push those to do their transactions outside. Not having access to PayPal hinders things and will force those to find under the table ways to do business.
     
  6. Zanna

    Zanna Member

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    Erdogan keeps being reelected because of votes from impoverished areas in the far eastern cities of the country, that are also plentiful of people who have really backwards views. He loses popularity each day, but his statistics in those areas are so high that they keep him re-elected.
    Everytime he does something crazy, it's to appease those faithful voters of his...which serves to enrage the more modernised western part of Turkey...and that's how riots spur up there.

    Other than that, they can't just coup him out of the parliament, because he's way too deep-rooted in the state's military. He has taken the time to plant his people everywhere.

    It's a tough situation. The fact that Putin decided to cut business ties with him, just goes to say how arbitrary Ergodan really is. He's acting like a Sultan.
     
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