What MagicPay does

MagicPay (legal entity Magicpay Teknoloji A.Ş.) is an Istanbul-based payment infrastructure provider operating an AI-supported payment gateway that aggregates 13 Turkish banks, 17 e-money institutions, and 97 alternative payment methods across 190 countries through a single API. The platform is delivered as SaaS, BAAS, and WhiteLabel, and is built around a modular product suite: MagicGate (gateway), Magic Router (commission/acceptance optimization), Fraud (AI anomaly detection), Magic Storage (PCI-DSS tokenization), Magic Wallet and MagicWalletGW (closed/open-loop wallets), Magic NFC (phone-based contactless acceptance), Magic POS (physical terminal), Magic App (consumer wallet), Magic Dealer (sub-merchant management, forthcoming), plus QR/Link/SMS, recurring, and marketplace payment modules.

The company monetizes via transaction/take-rate fees on payment volume and SaaS/BAAS/WhiteLabel licensing to financial institutions and resellers; pricing is opaque (no public rate card, with Apple Pay Global listed at $0.13 + card-dependent rate as the only disclosed data point). Distribution is product-led and API-first: merchants self-onboard through the website (reviewed within 24 hours), integrate via Magic API/SDK and GitBook documentation, or install via OpenCart, Magento, and Shopify plugins. A referral channel runs through 13 Turkish bank partners that direct merchant volume into the gateway. Customer segments span SMB e-commerce (Yollando.com, Düğünçiçekleri.com, Knpist.com), professional services (Tech Müşavirlik), enterprise marketplaces (Minted), and banks/payment institutions seeking WhiteLabel deployments.

Name

MagicPay

Legal name

Magicpay Teknoloji A.Ş.

Website

https://magicpay.ai

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

1–10 employees

Short description

MagicPay (Istanbul, Turkey) is an AI-supported payment gateway provider offering a single API that aggregates 13 banks, 17 e-money institutions, and 97 alternative payment methods across 190 countries to SMB and enterprise e-commerce merchants, marketplaces, and financial institutions via SaaS, BAAS, and WhiteLabel models.

Ownership category

akta.pro rank

Product category

Payment Gateway Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Services-Prepackaged Software (7372)

akta.pro primary industry

Digital Payments & Money Movement (ACH/SEPA/FPS, Bill Pay, P2P) (FSAGAAAF)

akta.pro secondary industries

Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), EMV Chip, Magstripe & PIN Debit Acceptance (FSAMADAG)

Keywords

• Payment gateway services
• Payment processing infrastructure
• Digital wallet solutions
• Payment routing optimization
• Fraud detection software

Headquarters

HQ city

Istanbul

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Transaction / Take Rate Fees: MagicPay earns revenue by charging merchants a commission on payment transactions processed through its gateway. As a payment aggregator connecting merchants to acquiring banks and alternative payment networks, the company takes a fee per transaction. The company explicitly states it is not a bank, payment institution, or organization and does not provide commission rates, indicating opaque take-rate pricing.
2. SaaS / BAAS / WhiteLabel Licensing: MagicPay offers its full product suite (gateway, wallets, fraud, routing, storage) as deployable software under SaaS, BAAS, and WhiteLabel models, suggesting subscription or licensing revenue from partners and resellers.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

MagicPay is a Turkish payment gateway platform that provides AI-powered payment infrastructure aggregating 13 banks, 17 e-money institutions, and 97 alternative payment methods across 190 countries. Its core offering is a single-integration payment gateway (MagicGate) complemented by AI-powered payment routing, real-time fraud detection, PCI-DSS compliant card tokenization, closed-loop and open-loop digital wallets, NFC contactless acceptance, and physical POS solutions, all available as SaaS, BaaS, or WhiteLabel deployments.

Product overview

MagicPay is a Turkish payment gateway platform offering a unified SaaS, BaaS, and WhiteLabel payment infrastructure. The core product is MagicGate (single integration API) supported by modular add-ons including Magic Router (payment routing optimization), Fraud (AI-powered fraud detection), and Magic Storage (PCI-DSS compliant card storage). Wallet products include Magic Wallet (closed-loop loyalty wallet) and MagicWalletGW (digital wallet gateway). Mobile offerings comprise Magic App (consumer wallet app), Magic NFC (contactless phone payments), and Magic POS (physical terminal). Payment acceptance features include QR Payment, Link Payment, SMS Payment, Recurring Payment, Marketplace, and Alternative Payment Methods. Magic Dealer enables dealer/sub-merchant payment management. The platform integrates with 13 banks, 17 e-money institutions, and 97 alternative payment methods across 190 countries.

Differentiator

Problem solved

Functional benefit

Brands

• MagicGate: Payment gateway with integration to 13 banks, 17 e-money institutions, and 15 alternative payment methods.
• MagicWalletGW
• Magic Wallet
• Magic Storage
• Magic Router
• Magic Dealer
• Magic POS
• Magic App
• Magic NFC

Products and services

• MagicGate Single-integration payment gateway providing access to 13 banks, 17 e-money institutions, and 97 alternative payment methods for accepting payments from a unified API. Targeted at merchants requiring global payment method coverage.
• Magic Router Payment routing solution that uses AI to direct transactions to optimal commission rates, helping recover lost sales and maximize payment success rates. For merchants seeking to minimize processing costs.
• Fraud Detection AI-powered fraud detection application that instantly identifies all types of violations and fraudulent patterns in sales transactions. For merchants requiring real-time fraud prevention.
• Magic Storage PCI-DSS compliant infrastructure for securely storing customer credit card information with single-click tokenization. For merchants requiring secure card-on-file capabilities.
• Magic Wallet Closed-loop wallet solution enabling merchants to award loyalty points (ParaPuan) to customers and allow spending with single-click functionality. For merchants seeking loyalty program infrastructure.
• MagicWalletGW Digital wallet gateway integrating nearly 20 digital wallet APIs (Apple Pay, Google Pay, Samsung Pay, PayPal, Alipay, WeChat Pay, etc.) through a unified interface. For merchants needing broad digital wallet acceptance.
• Magic NFC Contactless payment acceptance via NFC technology using a merchant's mobile phone, eliminating the need for traditional POS hardware. For small merchants and field service providers.
• Magic POS Physical payment terminal enabling customers to pay with credit or debit cards in physical stores or field services. For brick-and-mortar retailers.
• Magic App Mobile wallet application for end customers featuring loyalty point earning (ParaPuan) and spending capabilities. Companion consumer app to the MagicPay merchant infrastructure.
• Magic Dealer Dealer and sub-merchant payment management solution enabling merchants to collect and account for payments from dealers and sub-dealers through a single POS system. For distributors and multi-level sales organizations.
• Recurring Payment Subscription payment automation enabling merchants to automatically collect regular monthly payments from customers for continuous service delivery. For subscription-based businesses.
• Marketplace Application Multi-vendor marketplace solution enabling shopping from multiple sub-merchants through a single cart with automated payment distribution and splitting. For marketplace operators.
• QR / Link / SMS Payment Payment collection services via QR code scanning, personalized payment links sent to customers, and SMS-based payment requests for remote and in-person transactions. For merchants needing flexible payment initiation.

Quantifiable outcome

• Merchants can recover previously lost sales through Magic Router's intelligent routing to optimal acquirer
• +1 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability3 records

Feature11 records

Partnerships

26 partnerships are on record, tiered core.

• AkbankcoreChannel Partner/ Reseller/ DistributorAkbank is one of Turkey's largest banks, serving as a distribution channel for MagicPay's payment gateway. Merchants are referred to or onboarded through Akbank's merchant services network.
• AnadoluBankcoreChannel Partner/ Reseller/ DistributorAnadoluBank distributes MagicPay's payment infrastructure to its merchant base in Turkey.
• DenizbankcoreChannel Partner/ Reseller/ DistributorDenizbank serves as a merchant referral and distribution partner for MagicPay's payment gateway.
• FibabankacoreChannel Partner/ Reseller/ DistributorFibabanka distributes MagicPay payment services to its SME and corporate merchant customers.
• Garanti BBVAcoreChannel Partner/ Reseller/ DistributorGaranti BBVA, one of Turkey's largest banks by assets, distributes MagicPay gateway services to its merchant network.
• HalkbankcoreChannel Partner/ Reseller/ DistributorHalkbank channels MagicPay payment acceptance services to its extensive merchant network.
• İş BankasıcoreChannel Partner/ Reseller/ Distributorİş Bankası, Turkey's largest private bank, distributes MagicPay's payment gateway to its merchant customers.
• Kuveyt TürkcoreChannel Partner/ Reseller/ DistributorKuveyt Türk (participation bank) distributes MagicPay services to its Islamic banking-compliant merchant base.
• QNB FinansbankcoreChannel Partner/ Reseller/ DistributorQNB Finansbank distributes MagicPay payment gateway services to its merchant customers.
• TEB (Türk Ekonomi Bankası)coreChannel Partner/ Reseller/ DistributorTEB channels MagicPay's payment acceptance services to SME merchants.
• Vakıf Katılım BankasıcoreChannel Partner/ Reseller/ DistributorVakıf Katılım distributes MagicPay services to its participation banking merchant network.
• VakıfBankcoreChannel Partner/ Reseller/ DistributorVakıfBank distributes MagicPay payment gateway services to its merchant base.
• Yapı Kredi BankcoreChannel Partner/ Reseller/ DistributorYapı Kredi Bank distributes MagicPay's payment infrastructure to its large merchant and corporate customer base.
• Ziraat BankasıcoreChannel Partner/ Reseller/ DistributorZiraat Bankası, Turkey's largest public bank, distributes MagicPay services to its extensive merchant network.
• iyzicocoreTechnology or Integrationiyzico is a Turkish payment gateway and e-money institution integrated into MagicPay's ecosystem, providing additional acquiring and e-money capabilities.
• MokacoreTechnology or IntegrationMoka, a Turkish payment technology company, is integrated into MagicPay's payment infrastructure.
• PayTRcoreTechnology or IntegrationPayTR, a Turkish payment institution, provides acquiring and wallet services integrated with MagicPay's gateway.
• HepsipaycoreTechnology or IntegrationHepsipay, a Turkish fintech, provides e-money and wallet services integrated into MagicPay's platform.
• PaparacoreTechnology or IntegrationPapara, a Turkish e-money institution with millions of users, is integrated into MagicPay's alternative payment method network.
• AdyencoreTechnology or IntegrationAdyen, a global payments technology company, provides underlying processing infrastructure for many of MagicPay's international payment method integrations. Multiple payment method pages reference Adyen as the processing partner.
• PayPalcoreTechnology or IntegrationPayPal (300M+ active users globally) is integrated as a payment method on the MagicPay gateway, enabling merchants to accept PayPal payments.
• KlarnacoreTechnology or IntegrationKlarna, the world's largest BNPL provider with 90M active consumers, is integrated as an alternative 'buy now pay later' payment method.
• Alipay+coreTechnology or IntegrationAlipay+ connects 1.3 billion consumers across 14 Asian digital wallets, available in 55 markets and accepted by 2.5M+ global merchants. Integrated into MagicPay for cross-border Asian payment acceptance.
• PlaidcoreTechnology or IntegrationPlaid provides open banking infrastructure powering MagicPay's Pay by Bank – US feature for ACH-based direct bank transfers.
• BillDeskcoreTechnology or IntegrationBillDesk provides MagicPay's online banking integration for India, with direct connections to 60+ Indian banks.
• KCP (Korea Cyber Payment)coreTechnology or IntegrationKCP provides MagicPay's Korean cards and PayCo payment integrations for the South Korean market, enabling transactions with all Korean issuers via hosted payment pages.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• iyzico: Turkish payment gateway and e-money institution owned by PayU; offers online card acceptance and APM aggregation. A current MagicPay integration partner but competes head-to-head in the same Turkish merchant segment.
• PayTR: Turkish payment institution providing virtual POS, marketplace payments, and APM aggregation. Direct domestic competitor and current integration partner of MagicPay.
• Papara: Turkish e-money institution with millions of users offering digital wallets, card issuing, and payment gateway services. Competes in MagicPay's core Turkish SMB and wallet segments.

Broad incumbents

• Stripe: Global payment infrastructure giant offering gateway, processing, fraud, and BAAS via a single API. Both a MagicPay infrastructure partner (referenced for global processing) and a direct competitor for cross-border merchants.
• Adyen: Global unified commerce payments platform serving enterprise merchants. Underlying infrastructure partner for several MagicPay APM integrations, but also a direct competitor for large merchants and banks.
• Checkout.com: Global payment processor offering gateway, acquiring, fraud, and APM coverage comparable to Adyen/Stripe. Competes for MagicPay's target enterprise and cross-border merchants.
• PayU: Global fintech payments operator with strong emerging-market presence, parent of iyzico. Competes in gateway services across EMEA, LATAM, and Africa — overlapping with MagicPay's 190-country footprint.

Regional players

• Mollie: European payment gateway aggregator supporting multi-method checkout, recurring billing, and marketplaces across EU markets. Comparable aggregator-then-execution model though geographically focused on Europe rather than Turkey/MENA.

Emerging players

• Razorpay: Indian full-stack payment gateway offering routing, fraud, and BAAS to merchants and platforms. Comparable aggregator-plus-AI roadmap from an emerging-market starting point.
• Paddle: Merchant-of-record payment platform for SaaS and digital goods, bundling gateway, fraud, and tax/compliance. Comparable SaaS-style payment infrastructure play targeting software-led merchants.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

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

M&A

Investments

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

Frequently asked questions about MagicPay