Payment services provider Worldline (EPA:WLN) today announces that the Central Bank of Turkey (TCMB) has approved Worldline’s partnership with leading Turkish fintech company Lidio Payment Services Inc to accept payments for global online businesses from Turkey.
The strategic partnership between Worldline and Lidio will help global online businesses gain a competitive edge in Turkey’s expanding e-commerce.
Turkey’s e-commerce market is growing rapidly, reaching $72 billion in sales in 2023 with a growth rate of 103% compared to the previous year according to official government statistics. Worldline and Lidio have successfully integrated three global enterprise customers, delivering dramatic improvement in payment performance.
Worldline and Lidio are currently integrating a Big Tech customer into the solution, highlighting its powerful capabilities and compliance with various regulations.
Worldline and Lidio’s joint solution simplifies the process of accepting payments from Turkey, optimizing payment time, cost and performance (up to 25% increase in approval rate compared to a customer’s previous connection) while ensuring compliance with local regulations. This solution includes accepting Troy cards for international business, which is critical as the current volume of 19 million is expected to grow massively.
Roman Tazetdinov, Head of Geo Expansion at Worldline Merchant Services, commented:
“We are pleased to receive this official recognition and authorization from the Central Bank of Turkey. Together with our strategic partner Lidio, we are now ideally placed to ensure that the widest possible range of international digital marketers have access to this hugely exciting market and are best placed to ensure the successful realization of their ambitions here.”
Emre Güzer, Co-Founder and CEO of Lidio, said:
“As one of the most exciting and fast-growing markets that uniquely bridges the gap between Asia and Europe, we will work closely with Worldline to seek to facilitate and participate in this growth. This approval from the Central Bank of Turkey enables our strategic joint e-commerce proposition with Worldline to offer customers a seamless solution and ensure maximum satisfaction.”