Param, one of Turkey’s first and largest financial technology institutions, is making new innovations every day with ParamPOS, which offers online collection solutions, and ParamKart, which provides prepaid card services.
With ParamPOS, which completed 2021 with a growth rate of more than 4 times, and ParamKart products, which completed the same year with a 144 percent increase in transaction volume; thanks to its more than 100 co-branded card projects, it provides services to a large customer base from professional organizations to shopping malls, from large retail companies to logistics companies.
ParamKart makes a fast start to 2022
ParamKart, which doubled the number of its customers in 2021 and attracted the attention of the industry with its new features, broke new ground with its mobile application designed in line with the experiences of the users. It became the first fintech institution to make the lives of its customers easier by quickly integrating the TR QR Code technology determined by the Central Bank of the Republic of Turkey (TCMB) into its mobile infrastructure. This is not a first for Param, which analyzes and prepares well for the demand for this technology in line with the wishes of its users.
The Param brand, which previously issued co-branded cards according to the wishes of the institutions, and provided cash-back advantages in matters concerning the agenda such as fuel and food shopping; with its latest innovation, it has made it possible for its users to withdraw money from any ATM without a card and make payments from any POS device.
Physical POS coming soon!
ParamPOS, which currently works in integration with 22 banks and 9 card brands and offers payment solutions for every area where virtual payment is available, is preparing to serve with new generation physical payment products very soon.
With the decision dated 15.02.2018, TURK Elektronik Para A.Ş. became the first financial technology institution to obtain a Card Acceptance (Acquirer) license outside the bank, within the scope of the “Debit Cards and Credit Cards Law” numbered 5464. Param, which is the first payment institution in addition to the 14 banks included in the BKM TechPOS infrastructure, will soon start accepting cards via Physical POS.
ParamUK is expanding its operations to the UK market!
ParamUK, licensed by the FCA, begins its operations in the UK. In the first stage, the brand, which will provide convenience to users in sending and receiving money between Turkey and the UK, aims to rapidly increase its market share through collaborations and innovations that will increase competition. Param, which works by listening to its users in the development of financial processes and the facilities to be provided through agreements, is also expected to expand to different countries after the United Kingdom.