Param acquires PayCore and all of its subsidiaries

Param, one of Turkiye’s leading financial technology companies, agreed to acquire PayCore, the Flagship of Payment Systems, and its subsidiaries, and initiate legal processes, including the approval process for share transfers, before the relevant authority.

Paycore, which provides technology infrastructure and financial software solutions to more than 250 banks, financial institutions, telecom operators and international companies with its more than 400 employees, is a financial technology company that exports technology to more than 30 countries.

PayCore, which forms the basis of the payment system infrastructures of e-money institutions and payment institutions as well as the largest banks of our country, successfully completes more than 3 billion payment transactions per year with its Ocean product.

Paycore, a global service provider of major card schemes in the management of critical payment processes with its 22 years of experience, provides services in the USA, Dubai and the UK, as well as its development and operation centers in Istanbul.

A pioneer in the development of the payment world, Param accelerated its Product and Technology ownership, one of the cornerstones of its aggressive growth strategy, with the acquisition of Paycore. Param states that before the end of 2023, they will share more important developments that will create excitement for the Turkish fintech transformation. Param, which has attracted the attention of international investors with its strong financial structure and high success momentum with its foreign partners, will support and strengthen PayCore for its growth target in the global market.

Param is waiting impatiently for the approval processes of the legal authorities to add 450 new colleagues to its more than 1000 colleagues with the purchase of Paycore. Paycore customers will soon discover the innovations of the Param world, where Paycore employees offer more than just money.

We believe that this development will add new values to our industry and economy.

Source: Egirisim / Prepared by Irem Yildiz

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