Hepsiburada's HepsiPay Announces Innovative Payments Partnership With Paycell, Fintech Arm Of Turkcell

Rhea-AI Summary

Hepsiburada's digital wallet, HepsiPay, has entered a strategic partnership with Paycell, the fintech arm of Turkcell. This agreement allows Turkcell customers to make purchases on Hepsiburada without a bank card, utilizing a new direct carrier billing feature. Starting December, this innovation aims to attract Turkey's significant unbanked population, expanding Hepsiburada's market reach. HepsiPay aims to enhance the shopping experience and increase accessibility, while Paycell has reached six million active users offering alternative payment methods, reflecting the growing demand in e-commerce.

Positive

• Strategic partnership with Paycell expands Hepsiburada's market reach to unbanked customers in Turkey.
• Introduction of direct carrier billing increases accessibility to the platform.
• Potential customer base increase as over 20 million people in Turkey are unbanked.

Negative

• None.

ISTANBUL, Nov. 29, 2021 /PRNewswire/ -- HepsiPay, the digital open wallet of leading Turkish e-commerce platform Hepsiburada (NASDAQ: HEPS), today announces a new payment agreement with Paycell, the fintech subsidiary of Turkey's leading telecom operator, Turkcell (NYSE: TKC). The agreement will enable consumers to shop easily on the Hepsiburada platform without the need for a bank card by using the new direct carrier billing capability on HepsiPay Wallet.

Beginning in December, Turkcell customers who do not have or do not prefer to use a bank or credit card, will enjoy a frictionless shopping experience on the Hepsiburada platform. Customers will be able to quickly and easily transfer money to their HepsiPay Wallet, with the final top up amount reflected on their next Turkcell bill.

Broadening Hepsiburada's Reach

This new offer will give Turkcell subscribers an innovative and easy way to shop on the Hepsiburada platform. And by enabling customers who may not have access to a bank or debit card to shop online, Hepsiburada will expand its total addressable market in Turkey, where over 20 million people remain unbanked.

HepsiPay General Manager Ozan Bayulgen said: "We are pleased today to be announcing this payments agreement - the first step in a long-term strategic partnership between Hepsiburada and Turkcell. HepsiPay aspires to evolve into best-in-class payment companion enabling frictionless platform experience across payments, money transfers, and also innovative fintech offerings across online and offline.

"This new and innovative payments feature on the Hepsiburada platform will help us to expand our total addressable market, and provide another way for Turkey's significant unbanked population to access the benefits of the digital and ecommerce revolution.

"We look forward to continuing to develop products and offerings alongside Turkcell and other partners for the benefit of our shared customers as we, at Hepsiburada, are committed to lead the digitalization of commerce in Turkey."

Onur Güven, Paycell CEO said: "It is with great pleasure that we offer Hepsiburada customers our innovative pay later solution: Paycell Ready-to-use Limit, developed to fulfill the need for alternative payment methods which have increased with the rapid growth in e-commerce. By producing a safe and innovative alternative for the new payment habits accelerated with the pandemic, Paycell has reached six million active users.

"We prioritize creating opportunities with technology so that more people are able to benefit from financial services in line with their changing needs. We are excited to offer the value and benefits of our next-generation payment platform to a broader audience in collaboration with Hepsiburada.

"Thanks to Paycell's advanced credit scoring capacity, users can safely and easily shop on Hepsiburada within the monthly limits without using a bank card. We look forward to working closely alongside Hepsiburada and will continue to expand the scope of solutions and services offered with Paycell."

About Hepsiburada

Hepsiburada (NASDAQ: HEPS), is a leading e-commerce technology platform in Turkey, combining a globally proven e-commerce business model with a one-stop 'Super App' to cater to its customers' everyday needs and to help make people's lives better. Customers can access a broad range of products and services including same-day delivery of groceries and essentials, products from international merchants, airline tickets and payment services through Hepsiburada's embedded digital wallet, HepsiPay. In 2020, Hepsiburada seamlessly connected 33 million members and approximately 45 thousand active merchants.

Founded in Istanbul in 2000, Hepsiburada was built to lead the digitalization of commerce in Turkey. As a female-founded organization, Hepsiburada is committed to meaningful action to empower women. Through our 'Technology Empowerment for Women Entrepreneurs' program, the company have reached more than 24,000 women entrepreneurs across Turkey to date.

About Turkcell

Turkcell is a digital operator headquartered in Turkey, serving its customers with its unique portfolio of digital services along with voice, messaging, data and IPTV services on its mobile and fixed networks. Turkcell Group companies operate in 4 countries – Turkey, Ukraine, Belarus, and Northern Cyprus. Turkcell launched LTE services in its home country on April 1st, 2016, employing LTE-Advanced and 3 carrier aggregation technologies in 81 cities. Turkcell offers up to 10 Gbps fiber internet speed with its FTTH services. Turkcell Group reported TRY9.4 billion revenue in Q321 with total assets of TRY57.3 billion as of September 30, 2021. It has been listed on the NYSE and the BIST since July 2000, and is the only NYSE-listed company in Turkey. Read more at www.turkcell.com.tr.

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SOURCE Hepsiburada

FAQ

What is the new payment feature introduced by Hepsiburada?

Hepsiburada has introduced a direct carrier billing payment feature through HepsiPay, allowing customers to shop without a bank card.

How does the partnership with Paycell benefit Hepsiburada?

The partnership enables Hepsiburada to reach a broader audience, particularly Turkey's unbanked population, enhancing their market presence.

When will the new payment feature be available for Turkcell customers?

The new payment feature will be available starting in December.

How many active users does Paycell currently have?

Paycell has reached six million active users with its innovative payment solutions.

What market opportunity does Hepsiburada aim to tap into with this partnership?

Hepsiburada aims to tap into the unbanked population in Turkey, which consists of over 20 million people.