Celebrating its 10th year in the fintech industry, iyzico has announced its strategy for the next 10 years

Founded in 2013 with the vision of democratizing and expanding financial services, iyzico is building the iyzico of the future with its 10th anniversary. Reaching a transaction volume of ₺70 billion with 100 thousand member businesses, 4 million users, iyzico focuses on guiding the growth and digital transformation of SMEs for the next period.

iyzico, which will guide the growth of SMEs and provide complementary services in their digital transformation processes, will also adopt the end-to-end shopping experience for end users and diversify payment options.

iyzico has closed every year with an average of 102% growth for the last 5 years, thanks to its innovative products and services. Increasing the number of member businesses by 20% in the last 1 year, iyzico aims to close the year 2023 with a volume of ₺150 billion, to increase the number of end users to 6 million and the number of member businesses to 130 thousand.

Orkun Saitoglu, CEO of iyzico said:

“As we continue to democratize financial services for merchants and end users, we will support their growth and digitization.”

iyzico CEO Orkun Saitoglu pointed out that 99.8% of all enterprises in Turkiye are SMEs and that these enterprises provide 76.7% of the total employment, and stated that these figures strikingly show the place and importance of SMEs in the country’s economy. Orkun Saitoglu:

“As iyzico, we set out with the vision of democratizing financial services 10 years ago and we have achieved this in the field of payments. In our second 10 years, we aim to be a companion in the growth adventures of SMEs while continuing to democratize financial services. We are aware of the importance of the increase in performance and productivity through digitalization for the economic growth of our country. At this point, we, as iyzico, will digitize financial services for both member businesses and end users in our new term in order to strengthen the existence of a democratic ecosystem around shopping.”

Saitoglu also underlined that in the second 10 years of iyzico, they will provide easy and reliable access to many solutions for member businesses, from financing to reporting, from cash management to marketing and CRM tools.

Stating that they are the pioneers of the payments market in Turkiye, Saitoglu reminded that iyzico was established in a period when shopping was done in the physical environment, with POS devices belonging to many different banks standing in front of the cash register, and that they created a market. Orkun Saitoglu, emphasizing that they have been creating a secure shopping infrastructure for both end users and member businesses in Turkiye for 10 years:

“With iyzico, which we developed so that SMEs can get a larger share of the rapidly developing e-commerce, we have provided a payment experience that is completed 37% faster to the customers of our Pay member merchants. Thanks to these advantages, Pay with iyzico has grown by 155% in terms of the number of transactions in the 2021-2022 period. Today, it is used by more than 35 thousand member businesses. In the past year, 20% of the e-commerce transactions of member merchants that accepted Pay with iyzico were made through Pay with iyzico.

New solutions for payment on the shelf, in the aisle and at the door

In addition to online shopping, iyzico, which brings buyers and sellers together in the physical environment with the iyzico Pocket POS product, will continue to invest in this area. Orkun Saitoglu said that they are working on solutions that will improve the experience of receiving payment on the shelf, in the aisle and at the door in the retail channel:

“We are working to ensure that our member businesses can control all payment transactions in both physical and online stores from a single panel. We will provide end-to-end services where they can easily manage all their financial needs and cash flows across multiple channels.”

iyzico brings the advantages of the shopping world to its users

Aiming to make the secure payment journey sustainable in e-commerce, iyzico continues to keep end users as well as SMEs at its center. Stating that they are making improvements to offer their end users a fast, easy and secure shopping experience by diversifying their payment options in the new period, Saitoglu said, “As iyzico, we aim to embrace the end-to-end shopping experience. Here, we started our efforts to help our users make a decision as soon as they find the product from the research stage, benefit from the campaigns while purchasing, make fast, safe and easy payments at the purchasing stage, and then be with our users during the entire shopping process with our Protected Shopping and Easy Return features.” Users will meet the advantages of the shopping world with campaigns where they can get refunds for their iyzico wallet balances and shopping expenses. Features such as open banking services and shopping privileges at iyzico member businesses will also be added.

Source: Egirisim / Prepared by Irem Yildiz

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