Istanbul, Turkey, May 26, 2015
—IFC, a member of the World Bank Group, is investing $6.2 million in iyzico, a Turkish payment service provider, to help the company expand its online payment platform and boost e-commerce for small and medium enterprises (SMEs).
The investment will promote iyzico’s development of a comprehensive, low cost, payment infrastructure in Turkey and the region to help online merchants accept payments quickly and securely. It is also expected to improve the distribution and availability of goods and services long-term, spurring growth.
“Our innovative payment platform helps online retailers of all sizes accept payments easily and securely, and has made us the leading payment solution for e-commerce in Turkey. We are looking forward to expanding our services in Turkey and the many online companies that are now sprouting up in the region,” said Barbaros Ozbugutu, CEO of iyzico.
Iyzico’s payment platform also offer merchants a range of value-added services including analytics and fraud protection that are designed to increase sales and lower the risk to the merchant.
“Iyzico provides comprehensive online payment solutions for ecommerce merchants and marketplaces. Iyzico-enabled merchants can offer consumers a broader choice of local payment options at lower cost and with improved security. We believe the company will be an important part of the infrastructure for Turkey’s fast growing ecommerce sector” said Andi Dervishi, Head of IFC’s FinTech Investment Group.
IFC has supported private sector development in Turkey for 50 years. With a $4.3 billion outstanding portfolio, Turkey is the third-largest country in IFC’s global portfolio. In line with the World Bank Group Turkey Country Partnership Strategy for fiscal years 2012 to 2016, IFC has so far invested approximately $2.8 billion in private sector projects in Turkey over the last three years.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in about 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and boost shared prosperity. In FY14, we provided more than $22 billion in financing to improve lives in developing countries and tackle the most urgent challenges of development. For more information, visit
www.ifc.org
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About iyzico
iyzico was founded in Istanbul in 2012 for the purpose of providing e-commerce companies with various sizes which provide services in different areas with an easy and secure payment system management platform. iyzico is a payment receipt system management platform designed on speed and efficiency. iyzico integration relieves you from dealing with infrastructural investments, tests and security concerns. You simply register to iyzico system and enter the code required to receive payments to the website. Moreover, you will pay neither subscription nor installation fees. For more information, visit
www.iyzico.com
