PayU: Acquired Turkish fintech Iyzico

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PayU: Acquired Turkish fintech Iyzico

PayU: Taps Turkey’s digital economy with Iyzico acquisition for $165 million

  • Iyzico’s automated solutions will strengthen PayU’s presence in Turkey
  • They provides secure payments to over 300 marketplaces and 30,000 online merchants
  • Together they help to encourage cross-border local currency trade between Turkey and CEE countries and Africa
  • With the acquisition, Turkey will be the second largest market for PayU in Middle East, Africa and Europe
  • The current Iyzico team will continue their operations in Turkey on behalf of PayU
  • By adding to its $500 mn-plus investment to date, PayU also hopes to become the world’s leading fintech investor