Paycell Partners with Nium for International Money Transfers

Rhea-AI Summary

Paycell, Türkiye's leading digital payment platform, has partnered with Nium to provide efficient account-to-account international money transfers. This collaboration allows users to execute transactions with lower fees and faster access to funds, available 24/7. Paycell’s expansion includes innovative solutions aiming to meet evolving user demands for low-cost money transfers. As of Q3 2022, Paycell reached over 7 million active users, tripling its trading volume year-over-year, and is actively investing in international markets to enhance financial inclusivity.

Positive

• Partnership with Nium enhances international money transfer capabilities.
• 24/7 access allows immediate access to funds.
• Paycell has over 7 million active users as of Q3 2022.
• Trading volume has tripled compared to the previous year.

Negative

• None.

Türkiye's most inclusive financial services platform, Paycell, continues to make life easier for its users with easy and secure payment solutions and financial services. Thanks to the account-to-account international money transfer process implemented by Paycell in partnership with Nium, users can make fast, reliable and affordable international money transfers.

ISTANBUL--(BUSINESS WIRE)-- Paycell, Türkiye's next-generation digital payment platform, today announced a strategic partnership with Nium, the platform for global money movement, to offer international money transfers from account to account using Nium’s leading business payments infrastructure. The partnership makes life easier for Paycell users to perform fast, safe, reliable, and affordable international money transfers.

24/7 access

Thanks to Nium’s account-to-account money transfer infrastructure, users can perform international money transfer transactions without paying high commission fees and in a shorter time compared to their alternatives. With 24/7 transaction access, buyers also have instant access to the funds sent to them.

Serhat Dolaz: “We offer fast and comprehensive solutions to those looking for innovative solutions.”

Paycell CEO Serhat Dolaz pointed out that users are looking for innovative solutions in money transfer transactions; “In parallel with the rapid change in purchasing and payment methods, users are looking for innovative, easy and low-cost solutions in money transfer. At Paycell, we continue to increase our cooperation to meet this need. Paycell, which we develop day-by-day in line with the vision of being the richest platform in its field, stands out as Türkiye's most inclusive financial services platform. We are excited to provide the Nium’s fast and secure payment solutions for Paycell’s customers. Thanks to the Nium and Paycell partnership, international money transfer transactions are now getting easier. It is possible to send money without paying high commission fees and wasting time.”

Frederick Crosby, Chief Revenue Officer, at Nium commented, “Our partnership with Paycell showcases how our solutions can be embedded and customized to add value to the world’s largest enterprises. We provide a faster, cost-effective money movement alternative to traditional rails that helps large enterprises increase their topline revenues, and we look forward to growing our relationship with Paycell as their user needs evolve globally.”

About Paycell

Turkcell's (NYSE: TKC, BIST: TCELL) digital payment and financial services platform Paycell which can be used by anyone, regardless of operator continues to create value for all of its customers and stakeholders with the mission of creating cashless society. Widespreading seamlessly and securely with payment solutions Paycell reached more than 7 million active users in the 3rd Quarter of 2022. Trading volume of Paycell in the first 3 quarters took place 3 times more compared to last year.Paycell is Turkey’s digital payment and financial services platform moves forward its knowledge and experience for mobile users to fintech industry. Paycell creates value for all users and stakeholders with the payment solutions what was created with the vision of leading the sector in the transition to an “unbanked” society.

With a vision of creating a financial world without boundaries Paycell, which has become increasingly popular with our convenient and secure payment solutions, has reached 7 million active users as of the first half of 2022. Paycell is also making significant international investments and collaborations to achieve its goal of becoming an inclusive financial service provider. Paycell which opened its first European office in Germany will serve its European customers under the Paycell Europe brand.

About Nium

Nium is the global platform for Modern Money Movement. It provides banks, payment providers, and businesses of any size with access to global payment and card issuance solutions. Its modular platform powers frictionless commerce, helping businesses pay and get paid across the globe. Once connected to the Nium platform, businesses are able to pay out in more than 100 currencies to over 190 countries – 100 of which in real time. Funds can be received in 35 markets, including Southeast Asia, UK, Hong Kong, Singapore, Australia, India, and the US. Nium's growing card issuance business is already available in 34 countries, including Europe (SEPA), the UK, Australia and Singapore. Nium holds regulatory licenses and authorizations in over 40 countries, enabling seamless global payments and rapid integration, regardless of geography.

For more information visit: https://www.nium.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221212005411/en/

Media Contact – Turkcell

Ebru Erbek Filizfidanoğlu

Corporate Communications Manager, Turkcell

ebru.erbek@turkcell.com.tr

Media Contact – Nium:

Tim Black

Head of Global Communications, Nium

tim.black@nium.com

Source: Turkcell

FAQ

What is the recent partnership involving Paycell and Nium?

Paycell has partnered with Nium to offer account-to-account international money transfers, enhancing transaction efficiency.

How many active users does Paycell have as of Q3 2022?

Paycell has over 7 million active users as of Q3 2022.

What benefits do users gain from the Paycell and Nium partnership?

Users can perform fast, affordable international money transfers with lower fees and 24/7 access.

How much has Paycell's trading volume increased?

Paycell's trading volume has tripled compared to the previous year.