According to 2021 financial technology sector data, ParamPOS transaction volume has grown by 334%. A new record was set with an increase of 144% in purchases made with ParamKart.
ParamPOS, which is Turkey’s leading virtual POS solution shared its 2021 year-end financial data. According to the report, ParamPOS achieved 334% growth in transaction volume in 2021. At the same time, it reached a record growth of 577% in the number of transactions made.
Another record growth that stood out in the year-end FinTech sector report was realized with ParamKart. Transactions made with ParamKart increased by 144%, while the number of transactions increased by 142% in 2021. The top three sectors with the highest transaction volume of the year were fuel stations, markets, shopping centers and clothing accessories. The total basket average of all transactions was calculated as 82.65 TL. Param is among the most valuable fintechs in Turkey.
The presented report also includes consumer behavior analysis. According to these, Monday was the day with the most transactions with ParamKart in 2021. The hours with the highest number of transactions were recorded as 09.00-09.30. The highest number of transactions took place between 11.30-12.00 on Tuesday in 2020.
Marketplaces had the highest transaction volume through ParamPOS
The sector that increased its transaction volume the most in 2021 was the marketplace with an increase of 703%.
The marketplace sector was followed by service, video, entertainment and game equipment categories, respectively. Marketplaces, which increased the number of transactions by 693%; maintained its leadership among the top 5 sectors with the highest number of transactions.
A Huge Increase was observed in Food and Furniture Expenditures
While the number of transactions in food expenditures grew by 979%, the number of transactions in furniture expenditures increased by 797%.
In the data of 2021, where the basket average was 302 TL, there was a 650% increase in the number of installment transactions. This increase was at a rate of 565% for the single payment option only.
Founder of Param Emin Can Yılmaz: “2021 Closed With Record-Breaking Growth.”
Reviewing the financial results of 2021, Emin Can Yılmaz, Founder and Chairman of the Board of Directors of Param, said: “We once again proved our leadership in the sector with our Param brand, which is the most innovative in FinTech in Turkey. ParamPOS transaction volume grew by 334% compared to 2020. We recorded a 144% increase in transactions made with ParamKart compared to last year. We have observed the positive feedback of the developments we made and the effort we put forth, taking into account the consumer’s needs. This gives us pride and motivation. With the participation of Kuveyt Türk Bank, today we provide contracted services with a total of 22 banks and 9 card brands. We are constantly improving our infrastructure in order to provide the best service to Param users. Param makes significant investments in human resources in this regard. Fintechs have already started to have a voice in many areas such as collection, payment and micro-lending, which banks have undertaken in the past. He said: ’’We are taking decisive steps towards our goal of being in the top 10 among all financial institutions, including banks, by 2024.”