Hepsipay

What Hepsipay does

Hepsipay (legal entity D Ödeme Elektronik Para ve Ödeme Hizmetleri A.Ş.) is a Turkey-domiciled, TCMB-licensed electronic-money and payment-services institution that operates a consumer digital wallet. It is wholly owned by D-Market Elektronik Hizmetler ve Tic. A.Ş. (Hepsiburada), Turkey's largest e-commerce marketplace, and reaches approximately 16 million users through integration into the parent platform's checkout flow and via standalone iOS and Android apps. Its product suite includes one-click online payments at 300+ partner brands, QR-code (Karekod) in-store payments interoperable with any bank POS terminal, the Hepsipara loyalty currency (up to 3% rewards for Premium members), the Hepsipay Kart prepaid card, Hızlı Kredi instant credit aggregated across eight partner banks (up to 500,000 TL for individuals and 750,000 TL for sole proprietors), and 24/7 precious-metals trading (gold, silver, platinum) routed through Goldtag infrastructure. The technical stack combines secure card storage, 3D Secure one-click checkout, QR payment routing, and external banking/precious-metals integrations via partner APIs; the company does not disclose proprietary AI or ML components.

The business model is multi-vertical transaction-fee economics: per-transaction fees from merchants accepting Hepsipay online and in physical retail, intermediation economics on Hızlı Kredi credit disbursements from partner banks, and spreads on precious-metals trades facilitated through Goldtag. Wallet and card services are free to consumers (a refundable 1 TL provisional charge for card registration is the only disclosed fee). Customer acquisition is principally product-led growth through the Hepsiburada marketplace; retention is driven by Hepsipara rewards and partner-bank credit availability. The regulatory perimeter is the 2013 Turkish Payment Services Law under TCMB supervision, with KVKK data-protection compliance. Corporate governance is led by CEO/Chairman Sergey Timokhin, with Barış Umutlu as Hepsipay General Manager and a board that includes the Hepsifinans subsidiary's general manager, İhsan Emre Ödemiş.

Name

Hepsipay

Legal name

D ÖDEME ELEKTRONİK PARA VE ÖDEME HİZMETLERİ A.Ş.

Website

https://hepsipay.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Hepsipay is a TCMB-licensed Turkish digital wallet and payment-services institution, wholly owned by Hepsiburada (D-Market), serving approximately 16 million consumers with online checkout, QR in-store payments, a Hepsipara loyalty currency, multi-bank quick credit, and precious-metals trading.

Ownership category

akta.pro rank

Product category

Digital Payments

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Credit Card Issuing (522210)

SIC

Finance Services (6199)

akta.pro primary industry

In-App / Online Checkout Wallets (FSAMAEAH)

akta.pro secondary industries

Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA), Integrated POS Payments (ISVs & Vertical POS Platforms) (FSAMADAD), Digital Wallet Platforms (Consumer & Merchant) (BPAMAFAC), POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO), Integrated Payment Processors (PSP/Acquirer) (FSAMABAA)

Keywords

• Digital wallet
• Mobile payments
• QR code payments
• Payment gateway
• Loyalty rewards

Headquarters

HQ city

Istanbul

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

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

Revenue model

1. Payment Processing Fees: Hepsipay earns transaction fees from merchants when customers use Hepsipay to pay at online and physical retail locations. The company operates as a licensed payment institution under TCMB oversight.
2. Quick Credit Intermediation: Hepsipay facilitates credit from partner banks to users, earning a role as intermediary for the Hızlı Kredi quick credit product. Banks provide credit directly to users' Hepsipay wallets.
3. Precious Metals Trading: Hepsipay acts as intermediary for gold, silver, and platinum purchases and sales facilitated through Goldtag (Fintag Yazılım Danışmanlık A.Ş.), earning spreads on transactions.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Hepsipay is a Turkish digital wallet and payment platform that enables secure online and in-store payments via QR code at physical retail POS terminals, one-click checkout at 300+ partner e-commerce sites, and integrates loyalty rewards (Hepsipara), instant multi-bank credit (Hızlı Kredi), and digital precious metals trading (gold, silver, platinum). It operates as a TCMB-licensed electronic money and payment institution serving approximately 16 million customers within the Hepsiburada e-commerce ecosystem.

Product overview

Hepsipay is a Turkish digital wallet and payment platform operated by D ÖDEME ELEKTRONİK PARA VE ÖDEME HİZMETLERİ A.Ş. (100% owned by D-Market Elektronik Hizmetler ve Tic. A.Ş.), regulated by the Central Bank of the Republic of Turkey (TCMB). The core offering is the Hepsipay Dijital Cüzdan (Digital Wallet), which unifies multiple financial services: Kasada Öde enables QR code payments at physical retail POS terminals; İnternette Öde provides one-click online checkout at 300+ partner brands; Hepsipara is a loyalty rewards program earning up to 3% cashback (redeemable on Hepsiburada); Hızlı Kredi aggregates instant credit offers from 8 partnered banks deposited into the wallet; and Kıymetli Maden enables 7/24 digital trading of gold, silver, and platinum via Goldtag infrastructure. The Hepsipay Kart is a free prepaid card tied to wallet balance for in-store and online payments. The platform targets 16 million customers and merchant partners in Turkey's e-commerce and physical retail sectors.

Differentiator

Problem solved

Functional benefit

Brands

• Hepsipara: A loyalty rewards currency where users earn Hepsipara (%3) on purchases made through Hepsiburada
• Hepsipay Kart
• Hızlı Kredi

Products and services

• Hepsipay Dijital C\u00fczdan (Digital Wallet) A digital wallet that securely stores multiple credit and bank cards, allowing users to make payments at physical stores via QR code and at online merchants. Serves as the central platform linking all Hepsipay services for individual consumers in Turkey.
• Kasada \u00d6de (Pay at Checkout)

Quantifiable outcome

• 16 million customer base through Hepsiburada ecosystem
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

17 partnerships are on record, tiered core and minor.

• QNB FinansbankcoreTechnology or IntegrationQNB Finansbank is one of the eight partner banks providing Hızlı Kredi quick credit through the Hepsipay platform, allowing users to apply for and receive credit directly into their Hepsipay wallet.
• Yapı Kredi BankasıcoreTechnology or IntegrationPartner bank for Hızlı Kredi quick credit product, enabling credit applications and disbursements through the Hepsipay platform.
• AkbankcoreTechnology or IntegrationPartner bank for Hızlı Kredi quick credit product, enabling credit applications and disbursements through the Hepsipay platform.
• DenizbankcoreTechnology or IntegrationPartner bank for Hızlı Kredi quick credit product, enabling credit applications and disbursements through the Hepsipay platform.
• FibabankacoreTechnology or IntegrationPartner bank for Hızlı Kredi quick credit product, enabling credit applications and disbursements through the Hepsipay platform.
• AktifbankcoreTechnology or IntegrationPartner bank for Hızlı Kredi quick credit product, enabling credit applications and disbursements through the Hepsipay platform.
• Fiba GKTİcoreTechnology or IntegrationPartner bank for Hızlı Kredi quick credit product, enabling credit applications and disbursements through the Hepsipay platform.
• İşbankasıcoreTechnology or IntegrationPartner bank for Hızlı Kredi quick credit product, enabling credit applications and disbursements through the Hepsipay platform.
• Goldtag (Fintag Yazılım Danışmanlık A.Ş.)coreTechnology or IntegrationGoldtag provides the infrastructure for Hepsipay's precious metals (gold, silver, platinum) investment platform. Accounts are opened at Goldtag on behalf of users, and all precious metals transactions are processed through Goldtag's systems with Hepsipay presenting the interface.
• KaracaminorChannel Partner/ Reseller/ DistributorPartner merchant brand where Hepsipay is accepted as a payment method at online checkout.
• EbebekminorChannel Partner/ Reseller/ DistributorPartner merchant brand where Hepsipay is accepted as a payment method at online checkout.
• DefactominorChannel Partner/ Reseller/ DistributorPartner merchant brand where Hepsipay is accepted as a payment method at online checkout.
• KoçtaşminorChannel Partner/ Reseller/ DistributorPartner merchant brand where Hepsipay is accepted as a payment method at online checkout.
• TatilbudurminorChannel Partner/ Reseller/ DistributorPartner merchant brand where Hepsipay is accepted as a payment method at online checkout.
• AltınyıldızminorChannel Partner/ Reseller/ DistributorPartner merchant brand where Hepsipay is accepted as a payment method at online checkout.
• English HomeminorChannel Partner/ Reseller/ DistributorPartner merchant brand where Hepsipay is accepted as a payment method at online checkout.
• Kütahya PorselenminorChannel Partner/ Reseller/ DistributorPartner merchant brand where Hepsipay is accepted as a payment method at online checkout.

Scale indicators3 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• iyzico: Turkish online payment gateway and merchant acquirer (part of PayU) that enables e-commerce merchants to accept cards and wallets. Closely comparable to Hepsipay's Sanal POS and one-click online checkout products serving Turkish online merchants.
• Papara: Turkish fintech offering a prepaid card and digital wallet for consumer payments, money transfer, and bill payments. Direct competitor to Hepsipay's wallet, Hepsipay Kart prepaid card, and loyalty/rewards positioning.
• PayTR: Turkish payment gateway providing virtual POS, online checkout, and marketplace payment solutions for e-commerce. Comparable to Hepsipay's online payment integration and Virtual POS for merchants.
• Param: Turkish digital wallet and payment services provider (licensed by TCMB) offering online payments, prepaid cards, and money transfers. Direct competitor in the consumer digital wallet space within Turkey.
• Ininal: Turkey-based prepaid card and wallet provider enabling cardless online shopping and merchant payments. Closely comparable to Hepsipay Kart and digital wallet for online and offline payments.
• Paycell (Turkcell): Mobile operator-backed wallet from Turkcell offering in-app payments, QR payments, and card storage. Comparable to Hepsipay's QR-code payment and digital wallet features with a different distribution anchor.
• Sipay: Turkish payment institution providing virtual POS, online payment gateways, and merchant acquiring services. Comparable to Hepsipay's merchant-facing payment and acquiring infrastructure.

Emerging players

• Trendyol Cüzdan: Marketplace-embedded wallet from Trendyol, Turkey's leading e-commerce platform. Comparable to Hepsipay's ecosystem-driven wallet model, though it monetizes primarily inside the Trendyol marketplace.

Broad incumbents

• Garanti BBVA Bonus / GarantiPay: Garanti BBVA's digital wallet and online checkout offering competing for the same merchant and consumer wallet share. Comparable as a Turkish bank-led wallet with broader product portfolio.
• İşbankası İşCep / Maximum: İşbankası's flagship mobile wallet and Maximum loyalty program offering card storage, payments, and credit. Comparable as a broad incumbent Turkish bank wallet with strong credit distribution advantages.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/hepsipay
• Facebookfacebook.com/hepsipay
• LinkedInlinkedin.com/company/hepsipay

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

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 Hepsipay