İşbank, the biggest private bank and Payment Service Provider (PSP)in Turkey, expands its Alternative Payment Method (APM) offering with 5 additional APMs to broaden their Turkish merchant customers access to the global market.
The new payment methods adopted include ELO and Boleto from Brazil, Verkkopanki (Finnish Online Banking) from Finland, WeChat Pay, a Chinese digital wallet, and SEPA Direct Debit, a method widely used in Europe.
This brings İşbank’s portfolio to 18 alternative payment methods and the bank expands the geographic coverage that helps its merchants target new markets.
PPRO Group provides access to global APMs. It covers the entire value chain under one contract and one platform, from acquiring through to processing, local collection and reconciliation across 175 countries. This offering enables İşbank’s merchants to confidently and securely integrate APMs into their online payment platforms and in turn, facilitate a global customer base.
“İşbank’s payment gateway grants Turkish merchants access to global commerce thanks to our payment infrastructure which supports not only the card schemes but also 18 different APMs that are used in 46 countries,” says İşbank’sDeputy General Manager, YalcinSezen.
PPRO Group’s CEO, Simon Black comments, “İşbank is paving the way for Turkish online merchants to boost profits in global markets, including China, Brazil, Finland and the single Euro payments area. No matter where merchants are based, they must be aware of the local payment preferences in different countries to meet customers’ needs and ultimately profit from cross-border trade. Customers want to use their preferred payment methods, otherwise they will simply shop elsewhere.”