What Is an Operating Entity and Its Benefits
General · Pavo Blog — By admin
Operating entity
Under Communiqué No. 507, an operating entity is a financial institution or payment recording device manufacturer authorised by the Ministry of Treasury and Finance to operate the GMÖEBY system and which bears primary liability to the Ministry, the Revenue Administration and service users.
Pavo Finansal Teknoloji A.Ş. was among the first four institutions to receive Operating Entity authorisation from the Revenue Administration.
Benefits for taxpayers
- Single point of contact
- Variety of payment instruments
- Variety of applications
- Single cost structure
Businesses working with an operating entity move sales, invoicing and collection processes to electronic channels, saving time and cost.
They remove mandatory paper print costs typical of other collection methods (e.g. cash registers / EFTPOS) and cut stationery, fiscal memory and related expenses.
They can accept payments on tablets, phones and other hardware with greater flexibility.