PAYTR

About PAYTR

Established in 2009 by Yiğit Cengiz, PayTR Ödeme ve Elektronik Para Kuruluşu A.Ş. operates as a pivotal financial technology entity within Turkey's burgeoning digital economy. The firm provides comprehensive online payment solutions, functioning as a virtual Point of Sale (POS) system for businesses of all sizes, with a particular focus on Small and Medium-sized Enterprises (SMEs). PayTR's business model is centered on simplifying the process for merchants to accept online payments, eliminating the need for individual agreements with multiple banks. Revenue is primarily generated through commission fees charged on each transaction processed through its platform.

The company's core service is a payment gateway that allows businesses to accept various payment methods, including all major credit and debit cards, through a single integration. This service is designed for rapid onboarding, promising activation within a few hours, a significant reduction from the lengthy processes typically required by traditional banks. Key features include advanced fraud prevention systems, which employ machine learning to detect and block suspicious transactions, ensuring a high level of security for both merchants and their customers. PayTR also offers installment payment options, a popular feature in the Turkish market, and supports alternative payment methods to cater to a wider consumer base. Its platform is engineered for high availability and reliability, ensuring seamless payment experiences. The company received its license from the Banking Regulation and Supervision Agency (BDDK) in 2016, a milestone that solidified its position as a regulated and trusted payment institution.

In a significant development for the company and the Turkish fintech sector, PayTR was acquired by DgPays, a subsidiary of the prominent conglomerate Doğuş Group, in December 2021. This acquisition positions PayTR for further growth and integration within a larger financial and technological ecosystem. Founder Yiğit Cengiz, an alumnus of Istanbul University's Faculty of Political Sciences, continues to lead the company as CEO, steering its strategic direction post-acquisition. With a client base exceeding 110,000 merchants, PayTR has established itself as a significant player in Turkey's payment services landscape, facilitating the digital transformation of businesses across the country.