Payguru and Iyzico Launch Direct Carrier Billing for World First Digital Wallets
TPAY MOBILE Company Payguru Partners With Turkey’s Leading Virtual Point Of Sale Provider To Enable First-Ever Digital Wallet Top-Up Via DCB
STANBUL, November 29, 2021 / PRNewswire / – Payguru, a TPAY MOBILE FZ-LLC, today announces the launch of a new use case for Direct Carrier Billing (DCB) in partnership with Iyzico, the leading provider of virtual point of sale (POS) solutions in Turkey. Turkish consumers will be able to top up “Pay with Iyzico”, the country’s most popular mobile wallet, through DCB – improving financial access for consumers who do not have credit or debit cards.
Despite Turkey having an unbanked population of 16 million, things are now improving thanks to agile digital solutions. Iyzico provides online payment services and AI-based payment technologies to businesses and businesses. Consumers will be able to top up Pay with Iyzico Wallet by wire transfer, credit card and mobile balance transfer, quickly and securely.
Iyzico provides services to over 70,000 member companies and over 900,000 sub-members with an annual transaction volume of 18 billion Turkish lira. Payguru, the first payment aggregator in Turkey, offers DCB services through three mobile network operators and bank transfers and ATM payments through eight major banks. With over 84 million subscribers in the region, Payguru has brought DCB to household names such as Burger King and Tencent. Payguru currently has over 1,400 merchants on its platform and has processed over 104.5 million transactions in the past year.
The very first digital wallet top-ups via DCB are now available in Turkey. Nike, Puma, Yves Rocher and intimissimi are among the international brands that have chosen Iyzico as a trusted partner in Turkey. This new DCB use case will improve financial access for consumers with limited access to traditional banking infrastructure by enabling them to make digital payments without the need for a bank account or credit card or of debt. The technology will enable local merchants to reach and accept payments seamlessly, transforming the way businesses and individuals pay and receive money into Turkey. This unique integration will allow Turkish merchants to connect to 87 payment channels, helping them grow their business by expanding their reach to new customers and even unbanked customers, and offering innovative services such as bundling with operator tariffs, and loyalty and incentive programs.
IÅÄ±k Uman, co-founder and CEO of Payguru comments: âThe partnership with Iyzico represents another important step in Payguru’s journey. This decision is fully in line with our strategy of collaboration, which is the best way to have an impact in the era of DCB. It reinforces our commitment to invest permanently and unlock the value of digital commerce and financial inclusion and access through Turkey. It also means our improved ability to scale implementations, following the acquisition of Payguru by TPAY MOBILE in june 2020. “
Barbaros ÃzbuÄutu, co-founder and CEO of Iyzico, adds: âMobile enables consumers around the world not only to communicate more effectively, but also to pay remotely. With Payguru, we are innovating in the area of ââpayments using the power of mobile to increase financial inclusion, which is essential for boosting economic development.
âBy working with operators, we make financial access possible for consumers who do not have a credit or debit card by allowing them to transfer balances to their Iyzico digital wallets through telephone operators. This is a historic milestone in the payments landscape that combines the democratization of Iyzico approach with the fast and dynamic structure of Payguru. We look forward to continuing our collaboration with Payguru and its parent company TPAY MOBILE. “
Founded in 2015, Payguru is the leading payment aggregator in Turkey, and was the first mobile payment company to obtain a payment license from the financial regulator in Turkey. Payguru offers DCB services through three mobile network operators and bank transfer / ATM payments through eight major banks.
The company is 100% owned by TPAY MOBILE, the leading player in mobile payment through the Middle East, Africa, and Turkey.
About TPAY MOBILE
TPAY MOBILE (https://www.tpaymobile.com/) is the leading player in mobile payment in the Middle East, Africa, and Turkey (META). TPAY MOBILE provides a complete end-to-end service solution that enables digital service providers – including merchants and game developers – to easily access and accept payments from consumers in more than 20 countries in the region .
The simple but transformative technology of TPAY MOBILE promotes financial inclusion and access through the Middle East, Turkey, and Africa (META) – a region where many are unbanked, so credit and debit cards are not a realistic prospect. TPAY MOBILE allows users to make purchases by charging the payments to their mobile operator’s bill or deducting them from the credit balance or wallet balance. This is facilitated by a unique API integration that allows local and global merchants to reach and accept payments from over 600 million potential customers without the need for a traditional bank account. In turn, operators and mobile wallet providers can connect their subscribers to thousands of leading digital service providers through TPAY MOBILE’s mobile payment platform.
TPAY MOBILE is headquartered in the United Arab Emirates and its services are currently used by over 16 million monthly active users. The shareholders of the company are Helios Investment Partners, the leader Africa-specialized private investment firm, and A15, the from the Middle-East leading technology-focused venture capital fund.
Iyzico was established in 2013 to provide virtual point-of-sale services and artificial intelligence-based payment technologies to businesses of various sizes in the ecommerce world. By facilitating complex payment processes with its simple and secure platform, Iyzico has achieved great success in digitizing thousands of businesses in a short period of time and was acquired by global payment systems giant PayU in 2019. As a result of the merger process completed in a year and a half, Iyzico operates as a single payment system with 200 people working under one roof. Thanks to its structure, Iyzico operates on the principles of democratization of financial services and their accessibility to all, in parallel with the service it offers to companies.
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SOURCE Iyzico; Payguru