The List of Top Payment Gateway in Turkey 2024

The eCommerce industry in Turkey has experienced significant growth in recent years. In the first quarter of 2020 alone, the volume of e-commerce transactions in Turkey increased by 64% year-on-year, making it the 18th largest market for e-commerce in the world. With the need for secure and efficient online payment processing, using a payment gateway in Turkey has become a crucial aspect of business operations, enabling businesses to process online payments with ease and confidence.

This blog explores which payment gateway in Turkey is the best for businesses to power online payments from their customers in this particular market. To this end, we will explore the most popular payment gateway in Turkey.

Why Use an Online Payment Gateway in Turkey?

A payment gateway is an online service that enables businesses to accept payments from their customers via credit or debit cards, digital wallets, or other electronic payment methods. It encrypts and escorts sensitive payment data through a digital corridor protecting both your customer and your business from data theft and fraudulent activity.

Payment gateways act as a liaison between your online website and the payment processor to facilitate the transfer of funds from the customer’s bank account to the merchant’s account securely over the Internet. They are an essential component of e-commerce operations and are widely used by all businesses to power electronic payments.

Read More: A Guide to Payment Gateways for Dummies

Popular Payment Gateway in Turkey

Looking to tap into the Turkish market?

You have some options; each with its unique features and pricing. Here are some of the most popular payment gateways used by businesses in Turkey:

1. iyzico

iyzico is a leading Turkish payment gateway that enables businesses to accept online payments from their customers. The company was founded in 2013 and has since become the best payment gateway in Turkey.

iyzico supports credit and debit card payments, digital wallets, and bank transfers. You can also get paid through payment links. The company charges a commission rate starting from 2.49% per transaction, and a transaction fee of 0.25 Turkish Lira for every successful transaction.

With fraud detection services and dynamic 3DS that uses AI to activate 3D security only for risky transactions, iyzico has fast gained almost unparalleled popularity in the Turkish market.

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2. PayU

PayU is a global payment gateway that operates in Turkey. Itenables businesses to accept online payments from customers via credit and debit cards, digital wallets, and other electronic payment methods.

The commission rate to be applied per successful transaction on your online shop using PayU is 3.19% and the transaction fee is 0.25 Turkish Lira. Having said that, if your monthly sales volume is over 20.000 Turkish Lira, you can also benefit from special rates.

3. Papara

Papara is a Turkish payment gateway that enables businesses to accept payments from customers via digital wallets. It supports payments in both Euros and Turkish Lira.

It charges a transaction fee of 1% per transaction, plus a fixed fee of 1 Turkish Lira per transaction.

4. Akbank SanalPOS

Akbank SanalPOS is a payment gateway provided by Akbank, one of the largest banks in Turkey. It enables businesses to accept online payments from customers via credit and debit cards.

It charges a monthly subscription fee of 30 Turkish Lira, plus a transaction fee of 2.5% per transaction.

5. Garanti BBVA SanalPOS

Garanti BBVA SanalPOS is a payment gateway provided by Garanti BBVA, another major bank in Turkey. It enables businesses to accept online payments from customers via credit and debit cards.

It charges a monthly subscription fee of 29 Turkish Lira, plus a transaction fee of 2.69% per transaction.

Factors to Consider When Choosing a Payment Gateway

When choosing a payment gateway for your business in Turkey, there are several factors to consider:

1. Transaction fees

Transaction fees can significantly impact your business’s profitability, especially when you are processing a high volume of transactions. Therefore, it is essential to compare transaction fees and choose a payment gateway that offers the most competitive rates based on your monthly sales volume.

2. Payment methods Supported

Different payment gateways support different payment methods, including credit and debit cards, digital wallets, and bank transfers. Make sure to choose a payment gateway that supports the preferred payment methods of your target demographics.

3. Level of Security Offered

Payment gateways handle sensitive financial information. This makes security a top priority in your decision-making process. Make sure to choose a payment gateway that uses the latest security protocols, such as encryption and tokenization, to ensure that both your customer and your business are save from fraudulent activity.

4. Available Integrations

Consider the ease of integration with your e-commerce platform or website. Choose a payment gateway that offers seamless integration and easy-to-use APIs.

5. Quality of Customer support

Look for a payment gateway that offers stellar and round-the-clock customer support to ensure that you can rely on the customer success staff to resolve payment-related issues or concerns quickly and efficiently.

Conclusion

In conclusion, there are several payment gateways available in Turkey and each comes with its unique features and pricing. When choosing a payment gateway for your business, consider factors such as transaction fees, payment methods supported, security levels, integrations available, and the quality of customer support. The right choice of a payment gateway can help you orchestrate frictionless payment processing and grow your business.