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Turkey’s Iyzico, an online payments platform, recently acquired consumer analytics company MyPat.co, uniting the services to better serve Turkish businesses operating online. Founded by Endeavor Entrepreneurs Tahsin Isın and Barbaros Özbugutu, Iyzico is transforming the payment processing experience for businesses through its bank-integrated, fraud-protected payment platform tailored to the nuances of the Turkish market.
Selected this year at the 55th International Selection Panel in Istanbul, Iyzico was founded in 2012 with the vision of making online payments easier than ever before. From obtaining contracts with banks to systemic fraud, Turkish companies both large and small struggle with online payments. Iyzico’s two API platforms connect 22 banks and payment companies with over 850 merchants, enabling merchants to accept online payments in the easiest and safest manner.
The company’s seasoned executive team and local know-how – from collective 33 years experience in the payment market to personally setting up all the contracts with the banks – enable it to offer a more sophisticated and adaptable platform than competitors in Turkey. While there are many global competitors in the online payment market — namely Stripe and World Pay — none have entered the Turkish market because of the high barriers to entry, providing Iyzico with a window of opportunity. With over 7,2000 registered members, Iyzico’s acquisition news will allow the company to expand its services and provide a better understanding of customer behavior and analytics. MyPat.co currently serves six major clients, including Endeavor Entrepreneur companies Yemeksepeti and Armut.
Learn more about the news by clicking here.
Iyzico founders with MyPat.co founder Hakan Erdogan