Hepsiburada's renewed fintech solution Hepsipay hits another milestone with 10 million users

Rhea-AI Summary

D-MARKET Electronic Services & Trading, operating as Hepsiburada (NASDAQ: HEPS), announced that its fintech solution, Hepsipay, has reached 10 million users as of November 2022. Hepsipay enhances online shopping by offering fast, safe payment options and features like one-click purchases, instant refunds, and bank transfers without card use. It also introduced Türkiye's first 'Buy Now, Pay Later' service, allowing customers to pay in installments. Hepsiburada connects over 45 million members with over 130 million SKUs across 30 categories, reinforcing its role as a leading e-commerce platform in Türkiye.

Positive

• Hepsipay reaches 10 million users, indicating strong adoption and growth.
• Introduction of Türkiye's first 'Buy Now, Pay Later' service, expanding payment flexibility for consumers.
• Enhanced user experience with features like one-click purchases and instant refunds.

Negative

• None.

ISTANBUL, Nov. 22, 2022 /PRNewswire/ -- D-MARKET Electronic Services & Trading (d/b/a "Hepsiburada") (NASDAQ: HEPS), a leading Turkish e-commerce platform, announces that the next generation of its fintech solution, Hepsipay, reaches 10 million users.

10 million user onboards

Hepsiburada's Hepsipay, which aims to expand the online shopping experience for users through easy, fast, safe, and budget-friendly payment options, has reached 10 million users as of November 2022.

Using Hepsipay, users can complete their purchases with one click or transfer their existing Hepsipay balances back to their bank accounts or debit/credit cards. Hepsipay also provides seamless return and cancellation experience with instant refund of the payment back to their wallets, enabling users to continue shopping without needing to wait for the refund to be made to their cards.

Hepsipay continues its progress towards becoming a payment gateway with added wallet features

Hepsipay also announces new added features, enriching the shopping experience with improved customer verification and e-wallet capabilities. In addition to a visual facelift, Hepsipay has been redesigned in-line with its goal of becoming Hepsiburada's payment gateway with "Know Your Customer" digital customer verification. In addition to the existing ability to transfer money from credit or debit cards, Hepsipay users may now also top up their e-wallets by transfers from their bank accounts without needing to use a card.

The first 'Buy Now, Pay Later' service in the Türkiye's e-commerce sector

Türkiye's first 'Buy Now, Pay Later' (BNPL) service in e-commerce sector that was announced in January 2022 by HepsiPay allows customers to purchase goods and services within their assigned limit. Using the BNPL feature, the customers are able to make their payment in up to 12 installments, and combine their BNPL limit with other forms of payments to improve their affordability. The service is delivered with prudent execution and strict risk monitoring, yielding portfolio quality in line with long term cost of risk projections.

About Hepsiburada

Hepsiburada is a leading e-commerce technology platform in Türkiye, connecting over 45 million members with over 130 million SKUs in over 30 categories on its hybrid operating model where direct sales on 1P (retail) and 88,700 merchants on 3P (marketplace) provide goods and services.

With its vision of leading digitalization of commerce, Hepsiburada acts as a reliable, innovative and purpose-led companion in consumers' daily lives. Hepsiburada's e-commerce platform provides a broad ecosystem of capabilities for merchants and consumers including: last mile delivery and fulfilment services; advertising; grocery delivery; and payment services, delivered through Hepsipay, Hepsiburada's payment companion and BNPL solutions provider. HepsiGlobal offers selection from international merchants via its inbound arm while outbound operations aim to enable merchants in Türkiye to make cross-border sales.

Since its founding in 2000, Hepsiburada has been purpose-led, leveraging its digital capabilities to develop the role of women in the Turkish economy. Hepsiburada started the 'Technology Empowerment for Women Entrepreneurs' programme in 2017, which has supported over 35,000 female entrepreneurs throughout Türkiye reach millions of customers with their products.

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SOURCE Hepsiburada

FAQ

What milestone did Hepsipay achieve in November 2022?

Hepsipay reached 10 million users in November 2022.

What new features were added to Hepsipay?

Hepsipay introduced improved customer verification, e-wallet capabilities, and one-click purchasing.

What is the significance of the 'Buy Now, Pay Later' service from Hepsipay?

It's the first service of its kind in Türkiye's e-commerce sector, allowing payments in installments.

How many members does Hepsiburada connect with?

Hepsiburada connects over 45 million members.

How many SKUs does Hepsiburada offer?

Hepsiburada offers over 130 million SKUs across more than 30 categories.