Turan, the indigenous fintech platform, aims to establish 100% digital and secure financial corridors between Europe and Turkic States. Despite catering to a niche market, it has garnered over 400,000 users in just 20 months.
In its mission to create a global financial network, Turan initiated its first international money transfer venture with Azerbaijan in January 2023, extending its services to Kazakhstan, Kyrgyzstan, Uzbekistan, and the Turkish Republic of Northern Cyprus within the same year.
Expanding its reach to Europe, Turan now enables commission-free money transfers to all banks in Germany, Austria, France, the Netherlands, and Hungary.
Speaking on the initiative, Özgür Bayraktar, the Founder and CEO of Turan, stated:
“In the 21st century, the Turkic States hold significant potential to become a regional power with their strategic location, rich energy resources, and strong cultural ties. Enhancing regional cooperation is crucial to realizing this potential. Economic, financial, and commercial unity is essential for the unity of the Turkic world. Our motto here is the motto of Gaspıralı İsmail: ‘Unity in Language, Thought, and Action.’ Our main goal is to enable every Turk, regardless of their location, to conduct cross-border financial transactions through our platform and to be the complementary element of the ‘Unity in Action’ vision. Our European expansion, implemented in collaboration with Payporter, holds strategic importance for us.”
Proceeds from TROY Cards Sales Donated to Mehmetçik Foundation
Turan, offering Turkiye’s national card scheme TROY-based cards through its platform, donates all proceeds from the sale of these cards to the Mehmetçik Foundation. These specially designed cards, particularly favored by the younger generation, have garnered significant demand in a short period. Additionally, the platform provides the option to create TROY Virtual Cards.
Turkiye-Azerbaijan “Wallet-to-Wallet” Transfer
By obtaining an e-money license in Azerbaijan through the United Payment infrastructure, United Payment became the first company to do so in the country. Operating in both Turkiye and Azerbaijan, Turan announced that it will launch the wallet-to-wallet transfer feature between the two countries in the third quarter of 2024.
In his statement, İlker Sözdinler, CEO of United Payment, remarked:
“As United Payment, while maintaining our regional leadership vision, we continue to export technology to the countries we operate in. We are extremely pleased and proud of Turan’s achievements in the Turkic States. Recently, we became the first company to obtain an e-money license in Azerbaijan. Turan will initiate wallet-to-wallet transfers using the United Payment infrastructure in the third quarter of 2024. We have achieved many firsts with Turan in the Turkic States, and moving forward, we aim to identify needs in the payment sector and bring the latest technologies together with innovative solutions.”
Source: Egirisim / Prepared by Irem Yildiz