PayTR will continue to offer innovative solutions with a focus on human value

Our CEO Merve Tezel evaluated PayTR’s next generation payment solutions and innovation-oriented approach in Payment Systems Magazine’s March 2025 issue celebrating the achievements of strong women leaders.

Could you briefly summarize PayTR’s focus areas of activity, the products and services it offers and, if possible, its position in the sector with numerical data (number of employees, number of merchants, number of transactions, transaction volume, market share, etc.)?

For more than 15 years, as a fintech that offers innovative and reliable payment solutions in the field of payment technologies, we accompany the growth journey of SMEs of all sizes with online or physical stores. Our mission in this journey, which we started with our online payment solution PayTR Virtual POS, is to enable more businesses to easily receive their payments to participate in e-commerce, and to be their business partner in their trade journey by providing quality payment services to support all online or physical business models. In addition to Virtual POS, we offer a multi-channel payment experience to our SMEs who want to sell with secure and modern methods regardless of the channel with our new generation payment solutions such as Physical POS, Link Payment, NeoPOS (SoftPOS), Mobile Operator Payment, Marketplace Solution, Card Storage, Subscription Method, Mobile POS. Getting a Virtual POS in two hours with an end-to-end digital application, passing cash or installment payments from all cards with a single integration, and controlling all transactions from a single panel provide great convenience to businesses that focus on digital growth. Since the day we were founded, we continue to invest in technology and specialized workforce with the goal of providing reliable and uninterrupted payments. In 2024, we grew our team and management team to a total of 231 people. The basis of our long-term relationships is our strong infrastructure, being accessible in communication, working in compliance with regulations, fast onboarding processes and taking quick action against all new risks, especially in the field of cyber security and fraud, while working with a high satisfaction rate. We closed another year in which we achieved our goals with a growth of 104 percent in transaction volume. Throughout the year, we added 165 new merchants every day, reaching more than 150 thousand merchants with an increase of 36 percent. Our widespread merchant base, which we grow every year, continues to be one of our important points of differentiation in the ecosystem. The number of registered cards increased by 82 percent to 15.3 million. Debit card transaction volume increased by 83 percent and credit card transactions by 110 percent. While the volume of installment transactions through PayTR grew by 78 percent, this increase reached 115 percent in cash transactions. When we look at the distribution of expenditures, we see that the most growing categories are home decoration, clothing, accessories, automotive, spare parts and education. Apart from the three big cities, the cities that grew their trade the most were Aydın, Tekirdağ, Manisa, Denizli and Kocaeli.

The Turkish virtual POS market is highly competitive in terms of commission rates. What kind of strategy does PayTR follow in this respect, and which aspects stand out? What advantages and privileges do you offer to your customers and users in this context?
We set out 15 years ago with the goal of providing an uninterrupted payment experience to thousands of merchants who trust us with our Virtual POS product. Our strategy is based on our continuous investments in our technological infrastructure, fast integration processes, reliability and customer-oriented service approach. The ability to start using Virtual POS within two hours with a completely online application, monitoring all transactions from a single panel, our 24/7 accessible customer service and easy reporting opportunities allow businesses to manage all payment processes effortlessly. It meets the ‘speed and convenience’ expectations of everyone who wants to grow their business. This allows businesses to run their financial processes smoothly and their customers to shop with confidence. Today, in addition to Virtual POS with our multi-channel payment approach, we offer our new generation payment solutions such as Physical POS to those who want to sell from their physical stores and NeoPOS (SoftPOS) to those who need mobile solutions due to their business model. In addition to PayTR Virtual POS, the online solutions we have developed, such as Link Payment, which is especially preferred by those who sell via social media or remotely, make the e-commerce ecosystem an area where businesses of all sizes can be successful. In addition to favorable commission rates, this operational convenience and uninterrupted service approach is one of the greatest privileges we offer to our customers. In a survey we conducted this year on POS usage habits, the biggest expectation of SMEs choosing a payment institution in Virtual POS is to move forward with a payment provider that will not shake the trust relationship between them and their customers, will not harm their commercial processes with an uninterrupted payment experience, will lighten their burden and thus expand their customer base. In order to receive electronic payments, a business does not have to apply, obtain approval, integrate, optimize costs, track transactions and deal with individual accounts for reconciliation. It continues its processes safely with payment companies that are fully compliant with legislation and regulations. In summary, as PayTR, we always aim to be one of the leading companies in the fintech ecosystem with not only cost advantage, but also speed, security, technological innovation and comprehensive customer support. This approach ensures that our merchants receive the most efficient service while growing their businesses. In the same survey, PayTR Virtual POS was selected as the first and preferred online payment solution among small and medium-sized businesses, once again demonstrating the businesses’ search for trust. The fact that our expertise in online payments has been valued by businesses for many years has been one of our happiest achievements this year. Today, when digitalization is accelerating, it is very important to analyze data well and take the right actions. All the work done by fintechs focusing on personalization for merchants will also be on the agenda of the ecosystem. We believe that having flexible and reliable payment solutions in one place for all their business models, working with a solution-oriented business partner at all times, investing in innovative business models with confidence, optimizing their business and managing their commercial terms from a single point is a more important contribution than commissions.

With the mobile EFT POS transformation, devices that do not feature the new generation of ÖKCs will no longer be used for payments. How did you take action on this issue?

We are a company that works in full compliance with regulations to ensure trust with a reliable and sustainable business model. With our payment solutions suitable for every business model, we take all necessary steps to support the formal economy and raise awareness of the services provided in this regard. All POS solutions we already offer comply with the legal regulations on payment recording devices. To ensure this, together with our company and business partners, we provide a ready infrastructure and a frictionless workflow for our customers.

Can you tell us about PayTR NeoPOS, our Soft POS solution that facilitated mobile payments last year, and PayTR NeoPOS+, which is VUK compliant?
PayTR NeoPOS, which we launched in the last quarter of 2023 among our new generation payment solutions that meet the needs of our SMEs, which are the backbone of our economy, in accordance with different business models, accelerated their business by enabling businesses that need more than one POS to receive payments from their mobile phones. It became one of the payment solutions offered by SMEs to their customers who require maximum trust and minimum effort. With the NeoPOS application downloaded through the PayTR Store application, smartphones or tablets with NFC-enabled Android operating system became available for contactless payment. Announced in January 2024, PayTR NeoPOS+ is one of the firsts in Turkey. In addition to PayTR NeoPOS, many businesses can create separate payment points for themselves without incurring additional costs with NeoPOS+, which is VUK 507 compliant and can issue e-tafura and e-archive. Individual sellers (repairs, bazaars), those who take payment at the door or those who provide mobile services (cafes, restaurants, takeaway services, valet, courier, field sales, etc.) enjoy the convenience of receiving payments safely over the phone. NeoPOS+ enables businesses such as markets, cafes and restaurants to easily manage their products and services thanks to its “multi-basket” feature. The application allows businesses to create baskets by selecting their products and services with predefined departments and categories, and to define discounts in the basket.

The steps taken in the field of financial technologies in our country are accelerating day by day. What do you think about the development and change of the fintech sector in Turkey?
Especially at a time when the transition to the formal economy is so important, it is becoming increasingly important for businesses of all sizes, from small to large, to access financial solutions. At this point, fintech, with all its regulatory and technological protections, has become an important sector that supports the digital transformation of SMEs, the backbone of the economy. Although payment solutions are technologies that everyone is used to in their daily lives and seem easy, they actually contain very different technologies, methods and protections for each business model and channel. Developments in the field of security and cyber security with the use of new technologies, new product and service investments, transparent execution of all transactions, compliance with legislation, and auditing are really a field of expertise and fintechs are very effective in offering solutions in this regard. As businesses’ confidence in the sector increases, they can focus on their own areas of expertise. As the number of strong players in the sector increases, organizations that add value not only with their products but also with their services and the experience they offer will stand out. Due to the need for innovation in the competitive environment in the payment services sector, their work in the field of information technologies can be critical for them to make a difference. We are also making important collaborations in this field in order to use our resources correctly. Last year, we strengthened our new organizational structure by expanding our teams. We continue to increase our competencies to act more agile while taking action with the Agile working method. We will continue to offer innovative solutions to our customers with an IT infrastructure that can make a difference and set an example beyond being a structure that complies with regulations. We are confident in the seamless and secure payment experience we offer. For the sake of security, we take the necessary actions to ensure that all transactions are carried out transparently, audited and carried out in accordance with the regulations in order not to disrupt the processes of our customers. In January, we launched our new face recognition-based identity verification (KYC) application, which was made mandatory in application processes, within a month. Now, businesses applying to PayTR can safely go through our identity verification process with their smartphones within minutes with their digitally smart IDs. And we continue to fulfill our promise of Virtual POS in two hours. We also have a strict auditing mechanism against fraud threats. We continue to provide all kinds of investment support, including artificial intelligence-supported solutions.

What kind of strategy are you following with the investment you received from Actera? Are there any plans for growth abroad?
We accelerated our growth targets with our investment partnership with Actera in 2021. Thanks to this partnership, we accelerated our investments in areas such as product, innovation and expert workforce. We focused on developing our next generation payment solutions and services that we offer to businesses, taking into account the changing shopping behavior of consumers. While maintaining our market share in the sector, we closely follow the opportunities in the foreign market and take strategic steps in certain areas.

What is the working environment like at PayTR? Last year, you were named one of “Turkey’s Best Employers” in three categories. Can you talk about the advantages and disadvantages of being an Izmir-based company in this and other aspects?
We have a very busy but enjoyable work culture. The awards we received at the end of a busy year are an important source of motivation for us. While we increased our ranking among the IT 500 companies, we maintained our leadership in the list in the Izmir Region. We took our place among the leading companies of technology in the Deloitte Technology Fast 50 Turkey 2024 List this year as well. While we won the bronze award at the PSM Awards with NeoPOS and NeoPOS+, we won the Gold award in the “Payment Innovation of the Year” category at the E-Commerce Summit Awards, again with NeoPOS. This year, we received the Great Place to Work certificate for the fourth time and ranked second among the Best Employers in the Aegean. We prioritize being a dynamic, egalitarian workplace where ideas are valued at every level with a focus on ‘human value’. At PayTR, we base our communication on trust, respect and employee value. In every project we realize, we take care to protect the individual development and motivation of teams or teams. After online training programs for development, feedback and awareness, we established a communication platform called PayTR BeWell on the Wellbees application. Here, we create groups and organize competitions related to our common interests outside of work. Every year, we come together in Izmir with our employees from different provinces of Turkey. We have a young team; 13 percent of our employees are 25 years old or younger, while 53 percent are between 26-34 years old. We act with a perspective that supports the new era as well as our technologies that shape the changing era.

“2025 WILL BE CHARACTERIZED BY INNOVATION, COOPERATION AND FINANCIAL INCLUSION”

After 10 years of experience in Yapı Kredi and Garanti payment systems, Merve Tezel, who has been working as an international and domestic senior executive at Visa for nearly 15 years, we couldn’t resist asking her about her predictions for the future of payments and what innovations await us in the coming period. Here are Tezel’s answers:

“With the decrease in the use of cash and the increasing use of contactless transactions, the demand for alternative payment solutions has been increasing in recent years. Consumers want to continue their lives by completing their transactions quickly, safely and easily instead of waiting in line. They expect the payment to be as invisible as possible and to be made in minimum steps but with maximum security. Such needs and demands lead businesses to new generation payment solutions. With the innovations provided by technology, businesses can offer more flexible and channel-independent solutions to their consumers.

With the rapid development of technology, I can say that this year will be shaped around innovation, collaboration and financial inclusion for fintechs. The steps taken in the field of artificial intelligence and data analytics will enable financial processes in the sector to become smarter and faster. It should be noted that threats will also increase their impact with all these developments. Security investments and measures to be taken will play a critical role this year and in the coming periods.

In a sector where competition is so intense, deepening customer experience will be at the center of all projects in both the medium and long term. It will be an eventful year in which mobile payments and digital wallet usage will increase, and new technologies for artificial intelligence-supported risk management and fraud detection will be discussed. I expect more customer-facing developments in open banking to enter our lives.

I believe that the payment systems of the future will be shaped not only by improving the technological infrastructure, but also by putting the user experience at the center. With this vision, we will continue to develop more digital, integrated and smart solutions together with all our stakeholders in the industry.”