Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 19

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 3
Chunk 19
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 platform less convenient and attractive to two-wheeled
electric vehicle riders and ride-hailing riders and drivers.

Nearly all of our two-wheeled electric
vehicle riders’ and ride-hailing drivers’ payments are made by credit card, by debit card or through third-party payment
services, which subjects us and our service providers to certain payment network or service provider operating rules, to certain
regulations, and to the risk of fraud. New rules and regulations related to payment networks and systems have recently been
implemented in Türkiye and, although adapted from EU regulations, the absence of established practice rules and court decisions
related to these new rules and regulations in Türkiye creates significant legal uncertainty. We may in the future offer new
payment options to riders that may be subject to additional operating rules, regulations, and risks. We may be also subject to a
number of other laws and regulations relating to the payments we accept from our two-wheeled electric vehicle riders and
ride-hailing drivers including with respect to money laundering, money transfers, privacy, and information security. If we fail to
comply with applicable rules and regulations, we may be subject to civil or criminal penalties, fines, or higher transaction fees,
and may lose our ability to accept online payments or other payment card transactions, which could make our products and services
less convenient and attractive to our users. If any of these events were to occur, our business, financial condition, and results of
operations could be adversely affected.

We could also be subject to additional laws, rules,
and regulations related to the provision of payments and financial services, and if we expand into new jurisdictions, the foreign regulations
and regulators governing our business that we are subject to will expand as well. If we are found to be a money transmitter under any
applicable regulation and we are not in compliance with such regulations, we may be subject to fines or other penalties in one or more
jurisdictions levied by regulators as well as those levied by foreign regulators. In addition to fines, penalties for failing to comply
with applicable rules and regulations could include criminal and civil proceedings, forfeiture of significant assets, or other enforcement
actions. We could also be required to make changes to our business practices or compliance programs as a result of regulatory scrutiny.

For various payment options, we are required
to pay fees such as interchange and processing fees that are imposed by payment processors, payment networks, and financial
institutions. These fees may be subject to increases, which could adversely affect our