What DgPays does

DgPays is a Turkey-headquartered payment technology company that builds and operates end-to-end infrastructure for banks, electronic money institutions, telecom operators, transit operators, retailers, and insurance companies. Founded in 2017, the company runs a microservices-based, OS- and database-agnostic platform covering card issuing and management, ATM switching, transit fare collection (including open-loop Visa/Mastercard acceptance), merchant acquiring (POS, Virtual POS, SoftPOS, payment gateway), digital banking, BNPL, and the ZUBİZU loyalty platform. In Turkey, DgPays processes 55 million+ cards, powers 25,000+ ATMs, and serves 160,000+ merchants, with named clients including Akbank, Garanti BBVA, Ziraat Bankası, İş Bankası, Halkbank, Denizbank, QNB, TEB, Fibabanka, ING, Turk Telekom, Beeline, JazzCash, A101, CarrefourSA, ŞOK, Belbim, and PTT.

The company monetizes through transaction fees on card, ATM, and transit processing; technology licensing and white-label arrangements; subscription-based loyalty services on ZUBİZU; electronic money issuance via Dgpara (TCMB-licensed); and BNPL/consumer finance via Dgfin (BDDK-licensed). Pricing is customized, quote-based, and structured around multi-year enterprise contracts. Distribution combines direct enterprise sales with regional offices in Istanbul, Dubai (DIFC), Luxembourg, and Wilmington, Delaware, channel partnerships with Visa, Mastercard, BKM, and TROY, and a subsidiary ecosystem including DgpaysIT (IT services, TCMB-approved community cloud), Dgins (insurance brokerage), Dgbuys (technology services), Dgpro (distribution), and NEOPAY (UAE payments, acquired 2024).

DgPays is privately held and has raised two disclosed institutional rounds: a 2021 round at a $300 million valuation led by EBRD, Doğuş Holding, and Endeavor Catalyst, and a February 2024 round led by Truffle Capital with EBRD re-investment at a $500-800 million valuation, followed by a strategic minority investment from Mastercard in December 2024. Backed by this capital and regulatory licenses, the company is repositioning from a Turkey-centric platform to an EEMEA-wide payments and financial technology operator, with international expansion led by Group CEO Nandan Mer (formerly of Network International and Mastercard).

Name

DgPays

Legal name

Dgpays

Website

https://dgpays.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

501–1,000 employees

Short description

DgPays is a Turkey-based payment technology provider offering end-to-end card, ATM, transit, merchant acquiring, BNPL, and loyalty infrastructure to 50+ banks, telcos, transit operators, retailers, and fintechs across EEMEA.

Ownership category

akta.pro rank

Product category

Payment Processing and Financial Technology Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Sales Financing (52222), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)

SIC

Services-Computer Programming, Data Processing, Etc. (7370), Services-Prepackaged Software (7372)

akta.pro primary industry

Payment Orchestration Platforms (FSAGABAA)

akta.pro secondary industries

POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO), Merchant-Integrated BNPL (Checkout POS Financing) (FSAGAIAA), Alternative Payment Methods (APM) Enablement (Wallets, A2A, Local Rails) (FSAGABAJ)

Keywords

• Payment processing systems
• Card issuing solutions
• Digital banking platform
• Transit payment systems
• Loyalty platform software

Headquarters

HQ city

Sariyer

Offices5 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Payment Processing and Transaction Fees: DgPays generates revenue through transaction fees for processing card payments, ATM transactions, and transit payments across its network of 55+ million cards, 25,000+ ATMs, and 160,000 merchants.
2. Technology Licensing and White-Label Solutions: The company licenses its payment technology platform to banks, fintech companies, and other financial institutions, providing them with customized payment infrastructure solutions.
3. Consumer Finance (BNPL): Through Dgfin subsidiary, DgPays provides buy-now-pay-later services, earning interest and fees on consumer financing.
4. Loyalty Platform Services: ZUBİZU platform generates revenue through partnership fees, marketing services, and transaction commissions from its loyalty marketplace ecosystem serving 5 million users.
5. Electronic Money Services: Through Dgpara subsidiary, the company provides electronic money issuance and payment services, generating revenue from payment account operations and fund transfers.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels4 records

Core offering

DgPays develops and operates end-to-end payment technology infrastructure for banks, telecom operators, electronic money institutions, transit operators, and merchants. Its core offerings include card management (issuing/acquiring across Visa, Mastercard, and Troy), manufacturer-independent ATM software, open- and closed-loop transit payment systems, digital banking and BNPL platforms, merchant POS/SoftPOS/payment gateway services, and the ZUBİZU loyalty platform serving 5 million consumers across 500+ brands.

Product overview

DgPays operates as a comprehensive fintech platform with a modular portfolio of payment and financial technology products. The core offerings include Card Solutions (card processing for Visa, Mastercard, Troy), ATM Solutions (manufacturer-independent), Transit Solutions (electronic toll collection, open-loop transit payments), Financial Services Technologies (digital banking, insurance, consumer financing, BNPL), Merchant Solutions (POS, payment gateway, payment service provider), ZUBİZU Loyalty Program (LaaS platform with 5M+ members), and SoftPOS Solutions (software-based POS). The company also maintains subsidiaries including DgpaysIT (IT services), Dgpara (electronic money institution), Dgfin (consumer financing), regional operations in Middle East/Africa and North America, Dgins (insurance brokerage), Dgbuys (technology services), Dgpro (product distribution), and ZUBİZU Bilişim. The infrastructure supports 55+ million cards, 25,000+ ATMs, and 160,000+ merchant locations in Turkey, serving 50+ institutional clients including banks, telecom operators, electronic money institutions, transit operators, municipalities, retail chains, and insurance companies.

Differentiator

Problem solved

Functional benefit

Brands

• ZUBİZU: Turkey's first and largest mobile loyalty platform with 5 million members and 500+ brand partnerships, providing loyalty as a service (LaaS)
• Dgpara
• Dgfin
• SoftPOS / DgPOS
• DgTransit
• Digital SME Package

Products and services

• Card Solutions (Kart Çözümleri) End-to-end card issuing and management platform supporting Visa, Mastercard, and Troy schemes. Covers prepaid cards, bank cards, digital cards, meal cards, loyalty cards, and hybrid cards, with fraud prevention, clearing, chargeback, back-office operations, and card personalization integration. Designed for banks, financial institutions, and electronic money issuers.
• ATM Solutions (ATM Çözümleri) Manufacturer-independent ATM application supporting open-loop (Visa, Mastercard, Troy) and other card types (transit cards, national ID cards). Includes multi-bank support, customizable screens and graphics, fraud prevention, chargeback, back-office operations, cash-in-transit integration, and cash demand forecasting.
• Transit Solutions (Ulaşım Çözümleri) / DgTransit Electronic toll collection and public transportation fare payment platform supporting both closed-loop transit cards and open-loop cards (Visa, Mastercard). Includes alternative digital loading channels, merchant spending at transit locations, and hybrid banking-transit cards compliant with international standards. Used by transit operators and municipalities.
• Financial Services Technologies (Finansal Servisler) Comprehensive financial services platform covering digital banking technologies (microservices architecture, cloud-agnostic), embedded insurance and digital insurance brokerage, consumer financing, and BNPL (Buy Now Pay Later). Features AI-powered strategy and allocation modules for credit scoring and risk, real-time analytics, and regulatory compliance.
• Merchant Solutions (Üye İş Yeri Çözümleri) End-to-end merchant payment solutions including POS operations, Payment Service Provider services, and Payment Gateway services. Supports Android POS, Virtual POS, SoftPOS, fiscal printer integration, loyalty integration with 8 major banks, digital merchant acquisition, mobile payments, link-based payments, and social media platform integrations.
• ZUBİZU Loyalty Platform (ZUBİZU Sadakat Programı) Turkey's largest loyalty platform with 500+ brand network and approximately 5 million members. Offers Loyalty-as-a-Service (LaaS) and Loyalty Sync matching functionality, enabling partners to offer loyalty programs in their own apps or sync existing programs. Integrated with DgPays digital wallet, BNPL, and payment capabilities.
• SoftPOS Solutions (SoftPOS Çözümleri) Software-based point-of-sale solution enabling contactless payment acceptance on NFC-enabled smart devices without hardware POS terminals. Fast, secure, regulation-compliant, and low-cost; includes operational screens and merchant acquisition capabilities.

Quantifiable outcome

• 55+ million cards processed on DgPays infrastructure in Turkey
• +4 more outcomes

Named customers27 records

Segments8 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability3 records

Feature8 records

Partnerships

Eleven partnerships are on record, tiered major, core and minor.

• ArcapitamajorStrategic or Co-development Partner · 23 September 2024Joint acquisition of NEOPAY majority stake from Mashreq bank for $385 million valuation. Consortium partnership for Middle East payment market expansion.
• NEOPAYcoreStrategic or Co-development Partner · 23 September 2024UAE's fastest-growing payment solutions provider acquired by DgPays-Arcapita consortium. Serves retail, hospitality, government, and e-commerce sectors.
• ZMBIZIcoreTechnology or Integration · 1 January 2022Partnership to enable DgPOS SoftPOS application on ZMBIZI smartphones as standalone POS solution without additional hardware. Planned expansion to Canada and Nigeria.
• MbankcoreStrategic or Co-development PartnerPartnership with UAE's leading digital bank to provide integrated digital wallet and financial solutions for businesses and entrepreneurs in the UAE market.
• BKM (Bankalararası Kart Merkezi)coreTechnology or IntegrationMember organization of BKM, supporting Turkish card payment infrastructure alongside Visa and Mastercard schemes.
• VISAcoreTechnology or IntegrationInternational payment scheme partner with certification for card issuing and acquiring solutions.
• MASTERCARDcoreTechnology or IntegrationInternational payment scheme partner with certification for card solutions. Strategic investor and innovation partner.
• PCI SSCcoreTechnology or IntegrationPayment Card Industry Security Standards Council member, ensuring compliance with international payment security standards.
• TROYcoreTechnology or IntegrationTurkish domestic payment scheme. Dgpara is BKM/TROY certified for electronic money operations.
• TCMB Topluluk BulutucoreTechnology or IntegrationDgpaysIT received approval from Central Bank of the Republic of Turkey (TCMB) to provide Community Cloud services.
• Moka UnitedminorChannel Partner/ Reseller/ DistributorAuthorized representative providing currency exchange and related financial services as certified representative.

Scale indicators9 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Network International: MEA-focused payment processor (now part of a broader consortium). Closely comparable to DgPays given its regional focus on card processing, ATM management, and merchant acquiring for banks across Middle East and Africa — the same geographies DgPays is targeting via NEOPAY.
• İyzico: Leading Turkish payment gateway and acquiring platform (owned by Doğuş Group, also a DgPays investor). Directly comparable on Turkish merchant acquiring, payment gateway, and integration capabilities, though with a narrower product portfolio than DgPays.
• PayTR: Turkish payment gateway and POS provider serving e-commerce and physical merchants. Comparable to DgPays' merchant solutions segment with overlapping virtual POS, payment gateway, and installment/financing functionality in the Turkish market.
• Sipay: Turkish payment services provider offering card processing, payment gateway, and POS solutions. Competes with DgPays in the Turkish banking and merchant acquiring space with a similar focus on domestic banks and retailers.

Broad incumbents

• Verifone: Global POS and payment acceptance hardware/software provider. Overlaps with DgPays' SoftPOS, Android POS, Virtual POS, and merchant acquiring capabilities, though Verifone operates across many verticals and geographies at much larger scale.
• NCR Atleos: ATM and self-service banking technology provider spun out from NCR. Directly comparable to DgPays' manufacturer-independent ATM application business covering fraud, chargeback, multi-scheme support, and cash-in-transit integration.
• Worldline: European payment services giant with merchant acquiring, issuing, and digital banking capabilities. Provides a useful scale benchmark and strategic alternative for banks and PSPs evaluating DgPays' end-to-end payment infrastructure.
• Mastercard: Global card network and payment technology provider; also a strategic minority investor in DgPays since December 2024. Provides the scheme rails and broader technology stack that DgPays integrates against, while also being a partner and potential competitor in EEMEA.
• Fiserv: Global financial technology provider with merchant acquiring, issuing, and digital banking platforms. Comparable to DgPays' end-to-end value proposition, particularly its issuing and processing capabilities for banks and fintechs.

Emerging players

• Verestro (formerly uPaid): Emerging European fintech providing payment processing, SoftPOS, and digital banking APIs. Comparable to DgPays' SoftPOS and digital banking technology offerings but with less depth in card issuing and ATM infrastructure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/108217384106917

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries10 records

Funding overview

Funding rounds4 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about DgPays