Middle East and Africa-based mobile payment enabler TPAY MOBILE has announced the acquisition of 100% of the shares of Turkey-based payment service provider Payguru.
According to the press release, the transaction remains subject to approvals from the Central Bank of the Republic of Turkey (CBRT) and the Competition Authority. Payguru offers mobile payments, ATM cash payments, and bank transfer services to its merchants through its integration with Turkey’s three mobile network operators (Turkcell, Vodafone, and Türk Telekom), and eight major banks in Turkey (Ziraat Bankası, Yapı Kredi Bankası, Türkiye İş Bankası, Garani Bankası, Akbank, TEB Paribas, Vakıfbank, and QNB Finansbank).
Moreover, TPAY MOBILE enables payments acceptance from more than 54 mobile payment channels, which are connected to over 580 million consumers in the region. Leveraging direct carrier billing (DCB), mobile wallet and mobile money, through a single integration, merchant partners can unlock access to these consumers across 24 countries.
Overall, TPAY MOBILE hopes that the acquisition of Payguru will expand its offering of alternative payment products, financial technologies, and will contribute to further growth across geographies and business lines.
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