ISTANBUL, August 24, 2015 /PRNewswire/ --
UPT Ödeme Hizmetleri A.Ş. has become the first financial institution to receive the Payment Services Directive license in Turkey.
UPT CEO Erol Ulu said, "We are ready for the competition with our inhouse-developed payment platform, alternative payment products and customer solutions that will bring a new edge to the money transfer and payments industry. It's now time to start running."
Expanding its service network
UPT is Turkey's first and only local, global money transfer and payment platform for domestic and international transfers to account, credit cards or for cash payments in multiple currencies with over 400.000 service points in more than 200 countries in 5 continents.
UPT CEO Erol ULU said:
"Our aim is to provide our customers with the best service and continue to grow with our business partners. We have an online real-time integration with all our partners to make payment possible in just a few minutes. We want to support the services we currently offer through physical distribution channels with mobile, web and tablet applications and popularize the use of UPT in all fields of service."
Turkey's role increases in the market
Turkey has an important share in the 600 billion dollar global money transfer industry. The payment and electronic money services industry which is growing fast in Turkey is now regulated though a separate law in Turkey.
Electronic money, money transfer and invoice payments are now available for the local brands such as UPT to operate in this field with the approval of BRSA (Banking Regulation and Supervision Agency) without being limited with the banks pursuant to this Law.
The new Law will also increase competition that will result in a decrease in the costs for the consumers and an increase in the service quality.
UPT is an affiliate of Aktif Bank, the largest investment bank of Turkey. The money transfer service through UPT is available at more than 400.000 locations in more than 200 countries. This makes UPT the most widespread transfer system of Turkey both in domestic and abroad. Today, millions of people prefer UPT for their money transfers. UPT received first place award in "Most Effective Infrastructure" category in the "Financial World Innovation 2012 Awards", and also first place award in "Payment System of the Year" in the Payment Systems Magazine (PSM) 2011 Awards.
SOURCE UPT – UPT Ödeme Hizmetleri A.S