Digital merchant acquirer TPAY MOBILE has announced the acquisition of Payguru, one of Turkey’s leading payment service providers.
The transaction, which remains subject to approvals from the Central Bank of the Republic of Turkey (CBRT) and the Competition Authority, will see TPAY benefit from Payguru’s mobile payments, ATM cash payments and bank transfer services.
Sahar Salama, Founder and Chief Executive Officer of TPAY MOBILE, stated: “TPAY MOBILE is on an accelerated growth trajectory, and the acquisition of Payguru fast-tracks our vision to become the leading digital payment platform in the Middle East and Africa, guaranteeing a best in class user experience, and offering innovative services to our partners, and further driving digital and financial inclusion in our region.
“This transaction extends our footprint in the region, continues our diversification into new business lines and also significantly strengthens our value-added services proposition in the region. The regional and global fintech sector is at an inflection point for growth, making this the perfect time to welcome Payguru into our fold.”
TPAY MOBILE enables payments acceptance from more than 54 mobile payment channels, which are connected to over 580 million consumers in the region. Leveraging direct carrier billing (DCB), mobile wallet and mobile money through a single integration, merchant partners are able to unlock access to these consumers across 24 countries.
Through the acquisition, Payguru will expand TPAY MOBILE’s offering of alternative payment products, financial technologies and will contribute to further growth across geographies and business lines.
Payguru’s Co-founder, Chairman and CEO Işık Uman added: “We are proud to have built a successful and profitable business over the last 5 years, which we have achieved through organic growth and no external investment. We are delighted to be joining TPAY MOBILE, a leading player in the region.
“The merger with TPAY MOBILE opens a huge window of opportunity for the export of our products outside of Turkey, leveraging TPAY MOBILE’s presence in MEA countries. This will also bring our local merchants the opportunity to collect payments from these new countries with a single integration on TPAYMOBILE/Payguru platform.”
