PayTR Marks Its 15th Year with a 104% Growth in Transaction Volume

PayTR, celebrating its 15th anniversary in 2024, reported a 104% increase in transaction volume, demonstrating continued growth and success. Throughout the year, the company added an average of 165 new merchants daily, reaching over 150,000 partner businesses, predominantly small and medium-sized enterprises (SMEs).

As a prominent player in the fintech sector, PayTR has maintained its focus on supporting SMEs with secure and diversified payment solutions. The company provides services such as Virtual POS, Physical POS, Pay with Link, NeoPOS (SoftPOS), NeoPOS+, Mobile POS, Card Storage, and Subscription Methods, catering to both online and physical stores. Following its 2021 investment partnership with Actera, Turkey’s largest private equity fund, PayTR accelerated its expansion goals. By the end of 2024, the company had grown its merchant base by 36%, adding to its reputation as one of the fintech firms with the largest SME network in the country.

The introduction of new products further fueled its growth. In January, PayTR launched NeoPOS+, an enhanced version of its SoftPOS solution that transforms Android devices into POS terminals while offering compliance with tax regulations (VUK 507) and electronic invoice management. Meanwhile, the Pay with Link solution gained traction, particularly among social media sellers seeking easy payment methods. Virtual POS accounted for 87% of PayTR’s transaction volume, while innovative solutions like NeoPOS and Pay with Link contributed 13% to the total volume.

The company also recorded an 82% increase in registered cards, reaching 15.3 million. Bank card transactions grew by 83%, while credit card transactions saw a 110% increase. Installment payments rose by 78%, and cash transactions registered a 115% growth. Key growth categories included home decor, fashion and accessories, automotive spare parts, and education.

Outside Turkey’s three major cities, PayTR experienced growth in emerging commercial hubs such as Aydin, Tekirdag, Denizli, Manisa, and Kocaeli. The company solidified its presence in the Izmir Region and climbed higher in the Bilişim 500 rankings. Its achievements were further recognized with the bronze award at the PSM Awards and the Gold Award for “Payment Innovation of the Year” at the E-Commerce Summit Awards.

In a survey conducted by PayTR in the second quarter of 2024, Virtual POS emerged as the preferred solution among SMEs. Reflecting on this success, PayTR CEO Merve Tezel said, “The trust SMEs place in us for payment solutions has motivated us to set new goals. We adapted quickly to new regulations and implemented the facial recognition-based Know Your Customer (KYC) system within a month to comply with updated application processes.” Tezel also emphasized the importance of offering swift approval processes, with merchants being able to apply online and start accepting payments within two hours.

With its commitment to innovation, fraud prevention, 24/7 customer support, and multi-channel payment systems, PayTR aims to continue simplifying payment processes for SMEs while ensuring speed, security, and tailored services across Turkey.