iyzico offers artificial intelligence (AI) based payment services to businesses. The company's iyziconnect solution offers a routing module that enables payment transactions through one interface. It was formerly known as iyzi Payme. The company was founded in 2013 and is based in Istanbul, Turkey. In May 2019, iyzico was acquired by PayU.
iyzico's Products & Differentiators
Expert Collections containing iyzico
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
iyzico is included in 2 Expert Collections, including Fintech 250.
250 of the most promising private companies applying a mix of software and technology to transform the financial services industry.
Companies in this collection provide technology that enables consumers and businesses to pay, collect, automate, and settle transfers of currency, both online and at the physical point-of-sale.
Latest iyzico News
Apr 1, 2022
The prepaid card market (value terms) in Turkey increased at a CAGR of 11.6% during 2017-2021. Over the forecast period of 2022 to 2026, the market is expected to record a CAGR of 13.6%, increasing from US$10.36 billion in 2022 to reach US$17.22 billion by 2026. With the thriving e-commerce market fueled by the COVID-19 outbreak, the Turkish economy saw a transformation in the payment trends. Notably, the Turkish payment market aims to become cashless by 2023. Also, the Turkish financial authorities are taking various initiatives to drive e- payments, such as the national QR code, known as the Turkish QR Code, in August 2020. Strong growth of the Turkish e-commerce market also widened the prepaid card market's growth opportunity The e-commerce market in Turkey recorded strong growth with the rising pandemic and reached new heights in 2021. According to the publisher, the e-commerce sales in Turkey increased more than 65% annually during this period. Moreover, with the increasing awareness and rising usage of contactless payment methods, the publisher expects, with an environment well suited for innovation and entrepreneurship. Additionally, a large young population that is eager to adopt the cashless initiatives, the country will witness a surge in prepaid card adoption in the next four to eight quarters. Ride sharing companies are building partnerships with fintechs to introduce mobile app-based payments With the country adopting cashless initiatives, technology firms are partnering with taxi firms and banking providers to explore a convenient payment method where the taxi drivers will not need any separate point of sale (POS) terminal or any other additional hardware to receive payments. In August 2021, Turkish taxi firm, Taxi 724 piloted a software POS (sPOS) solution provided by Payneer Technology. The technology will enable NFC enabled Android devices to make contactless payment through an app. The company also partnered with Yapi Kredi bank to facilitate consumers. The app will be accompanied by a prepaid card, where the collected money can be transferred and used to withdraw cash from ATMs or making card payments. Digitized transit card has provided momentum to the growth of prepaid cards in Turkey With contactless payments gaining popularity during the pandemic, transit cards are being digitized. For instance, In November 2021, BELBIM AS, one of the subsidiaries of Istanbul Metropolitan Municipality (IBB), created a secure and convenient digital card called Digital Istanbulkart with the renewed mobile application known as Mobil Istanbulkart. This mobile app with the virtual card has features such as password, fingerprint scanning, and face recognition technology. Moreover, the digital card can be used in many areas, from transportation to online shopping together with campaign opportunities. Payguru partnered with Iyzico to launch Direct Carrier Billing In November 2021, Turkey-based mobile payments company, Payguru, partnered with Iyzico, provider of virtual Point of Sale solutions (POS) in Turkey, to launch Direct Carrier Billing (DCB) for digital wallet top-ups. This solution will provide consumers, especially the unbanked and underbanked population, to top up the 'Pay with Iyzico' wallet through DCB. Scope Transaction Value Trend Analysis
iyzico Frequently Asked Questions (FAQ)
When was iyzico founded?
iyzico was founded in 2013.
Where is iyzico's headquarters?
iyzico's headquarters is located at Maslak Mah. AOS 55. Sok. 42 Maslak A Blok Sitesi No:2/140, Istanbul.
What is iyzico's latest funding round?
iyzico's latest funding round is Acquired.
How much did iyzico raise?
iyzico raised a total of $28M.
Who are the investors of iyzico?
Investors of iyzico include PayU, International Finance Corporation, VEF, Amadeus Capital Partners, 212.vc and 6 more.
Who are iyzico's competitors?
Competitors of iyzico include YapStone, PayNearMe, Hypur, Stripe, TouchBistro, Satispay, Ezetap, Previse, Pine Labs, GoCardless and 18 more.
What products does iyzico offer?
iyzico's products include iyzipos and 1 more.
Who are iyzico's customers?
Customers of iyzico include amazon, aliexpress, hm, adidas and nike.
Compare iyzico to Competitors
Pine Labs offers cloud-based point-of-sale (PoS) payment solutions. The company allows merchants to accept credit or debit card payments, as well as methods such as e-wallets, quick response (QR) code payment solutions, and unified payments interface (UPI)-based solutions. The company was founded in 1998 and is based in Noida, India.
PayNearMe develops technology to facilitate the end-to-end customer payment experience. It offers a billing and payment platform. Its platform helps users pay with cash for a range of goods and services from companies in e-commerce, property management, consumer finance, and transportation, enabling businesses and government agencies as well as retail stores to digitize their cash collection processes. It was formerly known as Handle Financial. The company was founded in 2009 and is based in Santa Clara, California.
Stripe operates as a financial technology company. It offers an online payment processing platform that securely accepts credit card payments. It allows users to accept payments, send payouts, and manage businesses online. It offers solutions such as revenue and financial automation, Banking-as-a-service, and more for marketplaces, electronic commerce (e-commerce) companies, and more. Stripe was formerly known as DevPayments. The company was founded in 2010 and is based in South San Francisco, California.
GoCardless provides online automated, and recurring payment services. It offers a payments network for businesses to take and settle recurring payments, instant bank payments, application (API) integrations, and more. The company was founded in 2011 and is based in London, United Kingdom.
TouchBistro is an iPad-based restaurant management platform. It offers an integrated payments solution designed to meet the needs and fast pace of the food service industry. The firm was founded in 2011 and is based in Toronto, Canada.
Lemonway offers a pan-European payment institution. It dedicates to marketplaces, crowdfunding platforms, e-commerce websites, and other companies looking for payment processing, wallet management, and third-party payment in a know-your-customer/ anti-money laundering (KYC/AML) - regulated framework. The company was founded in 2007 and is based in Paris, France.