Worldpay Launches In Turkey

Worldpay Launches In Turkey
12.01.2018 10:11 am

Worldpay Launches In Turkey

Payments

Worldpay, a global leader in payments, has partnered with iyzico, the fastest growing payments provider in Eastern Europe and Turkey, to extend its payment services into Turkey. 

The collaboration is the first of its kind in the Turkish market, making it easier for global merchants to accept credit and debit card payments locally.

Through Worldpay, international businesses are able to work with a single payments provider across multiple markets, including Turkey, enabling them to improve transaction success rates and benefit from reduced operating costs. Global eCommerce players have seen their transaction success rates improve by up to 74% by processing locally through iyzico.

eCommerce in Turkey is set to grow at a CAGR of 13 per cent over the next four years, on track to be worth $17 billion by 2021 according to Worldpay’s annual Global Payments Report. Worldpay is ideally placed to help companies capitalise on opportunities presented by a highly dynamic market with huge growth potential.

Shane Happach, CEO of Global eCom at Worldpay said: “The data surrounding the Turkish eCommerce market is pointing to explosive growth in the coming years. Everything about this country – from local regulations to its preferred payment methods – demands that merchants enter with a tailored strategy. We’re delighted to partner with iyzico, an industry leader, to offer our customers the local expertise to navigate the Turkish eCommerce market and tap into this opportunity.”

Customers are selecting the Worldpay-iyzico partnership for processing payments in Turkey as a result of their global expertise; support for major card brands Visa, Mastercard and American Express; Turkish local card brand Troy; and the local instalment payment options favoured by Turkish consumers, such as 
Bonus, Maximum, Paraf, World, Cardfinans, Axess, and Advantage.

Barbaros Ozbugutu, CEO of iyzico said: “With a fast-growing economy, underpinned by strong consumer spending, Turkey is a huge potential market for global businesses, especially as 21.5 million online shoppers are generating $10 billion in eCommerce sales. But to unlock this potential, there are important considerations for international merchants. The key to success is to offer consumers a seamless shopping experience under unprecedented local expertise, just as they would expect with local brands. Our local payments know-how combined with Worldpay’s expertise will enable global merchants to process locally, thus increasing checkout conversion rates by up to 25%, as well as boosting acceptance rates by up to 91%. This, obviously, will be an important contribution to Turkey’s growth in the global eCommerce market”. 

Related News

Mitek Mobile Verify® Improves Blockchain Payment Pioneer Nocks’ Customer On-Boarding Time By 98%

 Mitek (NASDAQ: MITK), a global leader in mobile capture and identity verification software solutions, today reported... Read more »

Vocalink Appoints Stig Korsgaard to Sales Director

Vocalink, a Mastercard company and global payment partner to banks, corporates and governments, today announced that Stig Korsgaard has joined the organisation as Vice... Read more »

VietinBank successfully migrates all debit cards to TranzWare from Compass Plus

Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), a leading commercial bank in Vietnam, has announced the successful migration of its debit card... Read more »

The Largest Retailer in Denmark Selects Coupa

Coupa Software, a leader in business spend management (BSM), announced today that the largest retailer in Denmark has chosen Coupa’s Source-to-Pay (S2P) solution to streamline... Read more »

EU’s revised Payment Services Directive to enter into force on 13 January

On Saturday 13 January, the EU’s Payment Services Directive 2 will finally enter into force across the European Union. The updated version of the original 2009 Directive aims... Read more »

How ZED Network Blockchain Payments Platform will Help Smaller Money Transfer Operators

ZipZap founder and CEO Alan Safahi, is set to transform the $600 billion remittance industry with the launch of ZED network, an integrated global payments platform based on the... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53, +44 (0) 173 261 71 47 Download Our Mobile App