Introduction
With Turkey’s expanding e-commerce sector, choosing the right payment gateway is essential for businesses wanting to serve Turkish consumers and beyond. This guide reviews Turkey’s top 10 payment gateways, focusing on their unique offerings and benefits for local businesses.
1. Iyzico
Overview:
Iyzico is one of Turkey’s most popular payment gateways, known for supporting small to large businesses with a secure, flexible payment solution. It’s particularly advantageous for e-commerce companies, offering installment options, a popular feature in Turkey.
Key Features:
- Supports Turkish Lira (TRY) and multiple international currencies
- Provides installment payment options
- Advanced fraud detection and protection
Fees:
Transaction fees apply, with competitive rates for local transactions.
Best For:
E-commerce businesses in Turkey that want to offer installment payments.
2. PayU Turkey
Overview:
PayU is a global payment provider with a strong presence in Turkey. Known for its secure, fast, and reliable services, PayU is a versatile option for Turkish merchants who need a mix of local and international payment solutions.
Key Features:
- Supports TRY and other major currencies
- Extensive payment methods, including credit cards and bank transfers
- High-security measures with PCI-DSS compliance
Fees:
Transaction fees vary, with lower rates for high-volume transactions.
Best For:
Medium to large Turkish businesses aiming for international scalability.
3. Papara
Overview:
Papara is a digital wallet and payment gateway popular among Turkish consumers. It’s especially favored by businesses looking for fast and cost-effective payment processing with a mobile focus.
Key Features:
- TRY and multi-currency support
- User-friendly mobile interface and app
- Low fees and instant transaction processing
Fees:
Competitive, with no monthly fees and low transaction costs.
Best For:
Small businesses and startups in Turkey with a focus on mobile payments.
4. Hepsipay
Overview:
Hepsipay is the payment solution of Hepsiburada, one of Turkey’s largest e-commerce platforms. It’s particularly suited for merchants selling on Hepsiburada, offering integrated payment and financing options.
Key Features:
- Supports TRY with options for installment payments
- Fast payment processing
- Secure integration with Hepsiburada’s marketplace
Fees:
Transaction-based fees with options for reduced fees for Hepsiburada merchants.
Best For:
Businesses that operate on Hepsiburada or are heavily invested in the Turkish market.
5. PayTR
Overview:
PayTR is a trusted local payment provider that offers a wide range of payment options, including bank transfers, credit cards, and mobile wallets. It’s known for its secure infrastructure and extensive local bank support.
Key Features:
- TRY support with diverse local payment methods
- Quick integration and easy-to-use API
- Robust security and fraud prevention tools
Fees:
Competitive transaction fees, depending on the volume of transactions.
Best For:
Small to medium businesses focused on local customers.
6. Paratika
Overview:
Paratika is a flexible and secure payment gateway that integrates easily with online businesses, offering both local and international payment options. Its extensive security features and detailed reporting tools make it suitable for large enterprises.
Key Features:
- Supports TRY and major global currencies
- Advanced reporting and analytics tools
- PCI-DSS certified for enhanced security
Fees:
Transaction fees vary, with custom pricing available for high-volume users.
Best For:
Large enterprises needing detailed analytics and multi-currency support.
7. Stripe
Overview:
Although not locally based, Stripe is available in Turkey for businesses with international clients. Known for its developer-friendly API, Stripe provides a highly customizable payment solution ideal for companies with advanced technical needs.
Key Features:
- Supports multiple currencies, including TRY
- Advanced tools for custom integrations and analytics
- High-security measures, including built-in fraud detection
Fees:
Flat-rate transaction fees, with additional fees for currency conversions.
Best For:
Tech-driven Turkish businesses catering to international customers.
8. Sipay
Overview:
Sipay is a Turkish payment solution offering a wide array of payment options tailored for businesses of all sizes. It supports credit card, bank transfers, and digital wallets, making it a versatile choice for companies catering to Turkish consumers.
Key Features:
- TRY and other currency support
- Installment and deferred payment options
- User-friendly interface and quick integration
Fees:
Transaction fees apply, with volume-based discounts available.
Best For:
Businesses looking to provide flexible payment options for Turkish consumers.
9. BKM Express
Overview:
BKM Express is an electronic wallet service developed by the Turkish Interbank Card Center. It’s widely accepted in Turkey and provides secure payment options for both online and in-store transactions.
Key Features:
- Supports TRY and local debit/credit card payments
- Mobile app with QR code payments
- High security backed by Turkish banks
Fees:
Low transaction fees with no setup costs for merchants.
Best For:
Businesses aiming to offer a trusted, local e-wallet option in Turkey.
10. iPara
Overview:
iPara is a local payment gateway providing secure and versatile payment solutions, including installments, digital wallets, and alternative payment methods. It’s particularly beneficial for businesses that need an easy integration process.
Key Features:
- Supports TRY and other currencies
- Installment options and mobile wallet compatibility
- Fast integration and strong customer support
Fees:
Transaction-based fees with competitive rates for high-volume users.
Best For:
Small to medium-sized Turkish businesses with diverse payment needs.
FAQs
1. Are installment payments popular in Turkey?
Yes, installment payments are widely used in Turkey, and many gateways, including Iyzico, Hepsipay, and iPara, offer this feature.
2. Can international businesses use Turkish payment gateways?
Yes, some Turkish gateways like PayU Turkey and Iyzico cater to international businesses by supporting multiple currencies and global payment methods.
3. Do these gateways support mobile payments?
Most of them, like Papara, Sipay, and BKM Express, offer mobile-friendly solutions to cater to the growing mobile user base in Turkey.
4. What are the main currencies supported by Turkish payment gateways?
Turkish Lira (TRY) is the primary currency, though many gateways support EUR, USD, and other major currencies for international transactions.
5. Which payment gateway is ideal for a startup?
Papara and PayTR are excellent choices for startups in Turkey due to their affordability and ease of integration.
Conclusion
Navigating Turkey’s payment gateway options involves selecting a provider that aligns with your business model, from supporting installment payments to handling multi-currency transactions for global outreach. Each of these top 10 payment gateways offers unique features that cater to different business needs, helping you provide a secure, user-friendly experience for your customers.
