PayU acquires Turkish digital payments provider iyzico

Tuesday 11 June 2019 00:27 CET | News

PayU has acquired iyzico, a Turkey-based digital payment services provider, for USD 165 million.

According to the press release, the acquisition will allow PayU to consolidate its position in the payments space and accelerate scale in Turkey.

Founded in 2013, iyzico provides payments to over 300 marketplaces (with over 400,000 personal sellers of different sizes) as well as 30,000 online merchants which are using its checkout solution. Amazon, Nike, H&M, and Zara are among the brands with which iyzico collaborates in Turkey.

Complementing PayU’s own digital offering, the deal will allow PayU to strengthen its presence in Turkey, accelerate its SMB business with iyzico’s automated solutions, and facilitate building an “online bridge” between Turkey and CEE countries and Africa to encourage more cross-border trade in local currencies in the region.

For more information about iyzico, please check out a detailed profile of this company in our dedicated, industry-specific online company database.

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Keywords: PayU, Turkey, digital payments, iyzico, marketplace
Countries: World