TURK Financial Technology

What TURK Financial Technology does

TURK Finansal Teknoloji A.Ş. (TURK Financial Technology) is a private, Ankara-based fintech software developer incorporated on 2016-02-02 and operating from the Hacettepe Teknokent technology park. The company builds internet-based payment infrastructure for Turkish regulated institutions, including banks, payment institutions, and electronic money institutions overseen by TCMB and BDDK, as well as government bodies and professional associations. Its product portfolio spans mobile payment applications (Param, Turk Tahsilat), card payment and EMV chip/debit/prepaid management, clearing and switch systems that route authorization queries between BKM member ATM and POS terminals, mobile and web collection systems, and corporate smart ID card platforms (BaroKart with the Turkey Bar Association and AdaletKart with the Ministry of Justice).

Underlying technology is in-house and full-stack: from interface design through software development and testing, the firm operates a development team of 40+ technical personnel, complemented by sibling entities inside its parent group Turuncu Holding A.Ş. — TURK Elektronik Para A.Ş. for the e-money license, Teknomedya for hardware, Teknoform for card production/printing, and Random Yazılım for software. The company holds BKM Service Provider Organization authorization (since 2018-06) and ISO/IEC 27001 certification (2013 and updated 2022 versions), with group-level ISO 9001/14001/45001/10002 certifications held in 2024.

Revenue mechanics blend subscription or project-based software engagements for regulated institutions and professional associations with transaction-based fees on prepaid card programs serving 380,000+ users across 35M+ successful transactions. Distribution combines direct enterprise sales to financial institutions and government entities, BKM network access to all Turkish payment service providers, and self-serve mobile apps on Android and iOS for consumer and SME users. The brand portfolio includes Param, Turk Tahsilat, BaroKart, AdaletKart, BYS PlatinCard, TurkPos, and E-Tahsilat.

Name

TURK Financial Technology

Legal name

TURK Finansal Teknoloji A.Ş.

Website

https://turkfinansal.com.tr

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

101–250 employees

Short description

TURK Financial Technology is a Turkey-based fintech software developer building mobile payment, card payment, clearing/switch, collection, and smart ID card systems for regulated banks, payment institutions, government bodies, and professional associations, operating from Ankara within Turuncu Holding A.Ş.

Ownership category

akta.pro rank

Product category

Payment Processing Software

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Credit Card Issuing (522210), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)

akta.pro primary industry

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

akta.pro secondary industry

Tokenization, Network Vaults & Credential Management (FSAGABAF)

Keywords

• Payment processing software
• Mobile payment solutions
• Card management systems
• Clearing and switch systems
• Smart ID card solutions

Headquarters

HQ city

Beytepe

Offices2 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 System Software Solutions: Provides software solutions for payment systems including mobile payment, card payment, online payment, collection systems, and clearing/switch systems to regulated financial institutions and corporate clients.
2. Smart ID Card Services: Corporate smart identity card services for lawyers (BaroKart, AdaletKart), accountants, universities, schools, and ministry personnel including access control and payment system integration.
3. Prepaid Card Systems: Prepaid card systems operating with loaded amount spending principle, serving 380,000 users with over 35 million successful transactions.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

TURK Finansal Teknoloji develops and operates internet-based financial software for payment systems, providing mobile payment applications (Param, Turk Tahsilat), EMV chip card management systems, prepaid card platforms, clearing and switch infrastructure, collection systems, and smart ID card solutions. The company's software supports regulated financial institutions (banks, payment institutions, electronic money companies) as well as professional associations and government bodies, processing 35 million+ transactions for 380,000+ prepaid card users.

Differentiator

Problem solved

Functional benefit

Brands

• Param: Mobile payment application for mobile collections and payments. Includes features for fund transfers, bill payments, QR code payments, NFC contactless payments, and mobile wallet functionality.
• BaroKart
• AdaletKart
• BYS PlatinCard
• TurkPos
• E-Tahsilat
• Turk Tahsilat

Products and services

• Param Mobile Application Consumer and business mobile payment application supporting fund transfers (IBAN, credit card, EFT), money loading, bill payments, QR code and NFC contactless payments, mobile wallet functionality, and UYAP court fee integration. Available on Android and iOS.
• Turk Tahsilat Application Mobile credit card bill payment application supporting single payment and installment transactions for consumer and business bill collection needs on Android and iOS.
• TurkPos Mobile Collection Application Mobile collection application designed for field payment collection by businesses, part of the broader Collection System Solutions offering.
• E-Tahsilat Mobile Collection Application Mobile collection application enabling electronic field payment collection by businesses, part of the broader Collection System Solutions offering.
• BaroKart Smart ID Card System Prepaid identification card system for lawyers registered with Turkey Bar Associations, providing courthouse access control and integrated payment services at partner institutions nationwide.
• AdaletKart Smart Card System Prepaid card system for Ministry of Justice personnel delivering courthouse access control and integrated payment functionality across government justice facilities.
• BYS PlatinCard Payment System Card-based payment solution for professional organizations providing integrated payment functionality on issued membership cards.
• Prepaid Card Platform Prepaid card system platform operating on loaded-amount spending principle supporting contact/contactless spending, ATM loading (cash withdrawal/deposit), POS spending and loading, and money transfers. Deployed systems serve 380,000+ users with 35 million+ successful transactions across Turkey.
• ATM Debit Card Management System ATM debit card management system providing secure and rapid connection to banking infrastructure with EMV chip card support, compliant with bank regulations, BDDK, and PCI/DSS standards for usage at domestic and international ATMs and POS terminals.
• Domestic Clearing and Settlement System (YTH) Domestic clearing and settlement system (YTH) processing interbank clearing operations and brand share clearing and settlement for Turkish financial institutions under BKM integration.
• ATM/POS Authorization Switch System Switch system routing authorization queries between BKM member ATM and POS terminals across the Turkish interbank card network, operating under the company's BKM Service Provider Organization authorization.
• Online Campus Payment System Online payment system for large campuses and institutions using smart cards for expenditures, including card production management, card printing processes, application intake, card cancellation, transaction dispute handling, accounting, finance, and reporting modules.
• Collection System Integration Suite Enterprise collection system integrating mobile collection, common payment page, virtual POS, payment request, and recurring payment order capabilities for business payment collection needs.
• IYS Message Management System (TFS-İYS) IYS (İleti Yönetim Sistemi) Message Management System product providing brand listing, single/multiple permission management, permission queries, reconciliation, file management, and dealer management modules for commercial electronic communication compliance, with API integration for service providers.

Quantifiable outcome

• 380,000+ prepaid card users served
• +2 more outcomes

Named customers14 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Ten partnerships are on record, tiered core, flagship and major.

• Turuncu Holding A.Ş.coreStrategic or Co-development Partner · 1 January 2008Parent company of Turk Finansal Teknoloji A.Ş. Established in 2008 as an anonymous company combining technology sector experience and commercial activities since 2001. Turuncu Holding manages multiple subsidiaries including TURK Elektronik Para A.Ş. (electronic money), Teknomedya Bilişim Ltd. Şti. (hardware), Teknoform Basım Yayım Ltd. Şti. (printing/design), Random Yazılım Ltd. Şti. (software development), Zirvekent Yapı A.Ş. (construction), and Bir Dünya Eğitim Hizmetleri A.Ş. (education).
• TURK Elektronik Para A.Ş.coreTechnology or IntegrationElectronic money institution under Turuncu Holding, BDDK-licensed as one of the first electronic money companies in Turkey. Provides BaroKart prepaid identity card infrastructure for all lawyers registered with Turkey Bar Association for use in courthouses and partner institutions.
• BKM (Bankalararası Kart Merkezi)coreTechnology or IntegrationInterbank Card Center - authorized Turk Finansal Teknoloji as a Service Provider Organization to provide clearing, authorization, and card storage services to all banks and payment service providers in Turkey.
• Türkiye Barolar BirliğiflagshipStrategic or Co-development PartnerNational bar association for lawyers in Turkey. Turk Finansal Teknoloji provides BaroKart - a prepaid identity card system enabling lawyer access to courthouses and payment services at partner institutions. TURK Elektronik Para A.Ş. provides the underlying electronic money infrastructure.
• Adalet BakanlığıflagshipStrategic or Co-development PartnerMinistry of Justice of Turkey. Provides AdaletKart system for courthouse access and payment systems, with TURK Elektronik Para A.Ş. providing the underlying electronic money infrastructure.
• Türmob (Türkiye Serbest Muhasebeci Mali Müşavirler ve Yeminli Mali Müşavirler Odaları Birliği)majorStrategic or Co-development PartnerUnion of Chambers of Certified Public Accountants of Turkey. Provides prepaid card system for accounting professionals with integrated payment functionality.
• Teknomedya Bilişim Ltd. Şti.coreTechnology or IntegrationHardware provider within Turuncu Holding ecosystem, supplying technology hardware for the developed payment solutions.
• Teknoform Basım Yayım Ltd. Şti.coreTechnology or IntegrationPrinting and design company within Turuncu Holding, handling card production and design for smart ID cards including BaroKart and AdaletKart.
• Random Yazılım Ltd. Şti.coreTechnology or IntegrationSoftware development services company within Turuncu Holding ecosystem, supporting technology development for payment solutions.
• UYAP (Uçtan Ucа Adalet Bakanlığı Bilgi Sistemleri)majorTechnology or IntegrationEnd-to-End Ministry of Justice Information Systems. Param mobile application integrated with UYAP Vatandaş Portal enabling citizens to pay court fees, expenses, and case opening costs via credit card (single payment or installments).

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Visa: Global payment network with significant Turkish operations across issuing, acquiring, and tokenization. Comparable as the dominant incumbent defining card/credential standards that Turkish processors and switch providers integrate with.
• Mastercard: Global card network and payment technology provider operating in Turkey. Comparable in setting EMV standards, card issuance rails, and clearing/authorization rules that TURK Finansal Teknoloji's card management and switch products must integrate with.
• Ingenico (Worldline): Global payment terminal and acceptance provider with a presence in Turkey. Comparable on the hardware/terminal side of card payment solutions and on EMV-compliant acceptance infrastructure adjacent to TURK's card payment portfolio.

Direct peers

• PayTR: Turkish payment services provider offering virtual POS, mobile payment, and collection tools to merchants and developers. Closely comparable in product scope (payment integration, mobile collection) and in serving Turkish regulated PSP and merchant customers.
• Multinet Up: Turkish prepaid card, meal card, and corporate benefits platform with extensive merchant network. Comparable on prepaid card technology, corporate smart ID card programs, and BKM-integrated card issuance, mirroring TURK's BaroKart/AdaletKart model.
• PayU Turkey: Global payment orchestrator with a major Turkish presence via iyzico. Comparable in providing API-based payment infrastructure, cross-border processing, and PSP onboarding to merchants and platforms in Turkey.
• Edenred Turkey (Ticket Restaurant): Operates prepaid meal/benefit cards and corporate payment solutions in Turkey. Comparable on prepaid card issuance, corporate customer programs, and integrated acceptance infrastructure, and is explicitly listed as a TURK reference customer.
• iyzico (PayU Turkey): Turkish payment gateway and orchestration platform offering mobile, online, and marketplace payment solutions to merchants and PSPs. Directly comparable to TURK Finansal Teknoloji's mobile/card payment and collection solutions across overlapping enterprise and SME segments in Turkey.

Emerging players

• Papara: TCMB-licensed electronic money institution in Turkey offering consumer wallets, prepaid cards, and payment APIs. Comparable on e-money/prepaid card products and mobile wallet functionality, though Papara is more consumer-direct.

Others

• BKM (Bankalararası Kart Merkezi): Turkish interbank card center that authorized TURK Finansal Teknoloji as a Service Provider Organization. Comparable as the central switching/clearing counterparty and ecosystem gatekeeper; not a competitor but the structural counterpart for clearing/switch services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/turkfinansal
• Facebookfacebook.com/turkfinansal
• LinkedInlinkedin.com/company/turkft

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 TURK Financial Technology