Universal Payment Transfer
UPT is Turkey's first licensed payment institution, wholly-owned by Aktif Bank, providing domestic and international money transfers across 200 countries through 10,000+ Turkish service points and 400,000+ global partner locations.
- Company typePrivate
- Founded2010
- HeadquartersIstanbul
- Headcount51–100
- GTM typeB2C
- OfferingServices
What Universal Payment Transfer does
UPT (Universal Payment Transfer) is Turkey's first licensed payment services and electronic money institution, operating under Law No. 6493 since June 2013 under the supervision of the Central Bank of the Republic of Türkiye. The company provides domestic and international money transfer services reaching nearly 200 countries through a network of 10,000+ service points in Turkey — including all PTT post offices, UPT-operated branches in Aksaray, Kadıköy, Basmane, Laleli, and Merter, and third-party agents — combined with 400,000+ international partner locations via integrations with Ria, WorldRemit, MoneyGram, Small World, and infrastructure providers TerraPay, Thunes, Nium, and Tranglo. UPT is a wholly-owned subsidiary of Aktif Yatırım Bankası A.Ş. (Aktif Bank), one of Turkey's largest investment banks.
The platform supports transfers denominated in TRY, USD, EUR, and GBP, delivered to bank accounts (IBAN), credit cards (Visa and Mastercard), or recipient names. Name-based transfers settle instantly during business hours, domestic account/card transfers settle same-day if initiated before 16:30, and international account transfers settle the next business day. Each transaction carries a unique reference number that the recipient redeems at a bank account or UPT service location with valid identification. Compliance operates under Turkish Personal Data Protection Law (KVKK / Law No. 6698), with 10-year record retention required under MASAK AML/CTF rules.
UPT earns revenue primarily through transaction fees structured as take rates or fixed tiers by destination corridor — for example, 0.75% for Uzbekistan transfers, 1% for Kazakhstan cash pick-up, fixed-tiered fees for Azerbaijan and Jordan, and €15 for €10,000 transfers to European accounts. It serves two primary segments: individual consumers (both banked and unbanked) sending and receiving remittances, and business partners operating as UPT agents. With 51-100 employees, UPT runs as a strategic operating subsidiary of Aktif Bank rather than an independently venture-backed entity; it has not raised external funding and does not publicly disclose revenue.
Universal Payment Transfer firmographics
Firmographics- Name
- Universal Payment Transfer
- Legal name
- UPT Ödeme Hizmetleri ve Elektronik Para A.Ş.
- Website
- https://upt.com.tr
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- UPT is Turkey's first licensed payment institution, wholly-owned by Aktif Bank, providing domestic and international money transfers across 200 countries through 10,000+ Turkish service points and 400,000+ global partner locations.
- Ownership category
- akta.pro rank
Universal Payment Transfer industry classification
Industry- Product category
- Cross-border Money Transfer & Remittance Services
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Services-Computer Programming, Data Processing, Etc. (7370)
- akta.pro primary industry
- Cross-Border Payouts & Mass Disbursements (Pay-outs) (FSAMAIAJ)
- akta.pro secondary industries
- Cross-Border Collections & Local Receiving (Pay-ins) (FSAMAIAI), Payouts, Disbursements & Mass Payments Infrastructure (FSAGABAN)
Keywords
Where Universal Payment Transfer is headquartered
LocationHeadquarters
- HQ city
- Istanbul
Offices4 records
Markets served
Universal Payment Transfer business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Money Transfer Transaction Fees: UPT charges transaction fees for money transfers. Fees vary by destination country and transfer amount. For example, Uzbekistan transfers charge 0.75% of the principal amount with a minimum of 3 USD/EUR; Azerbaijan has fixed fee tiers based on amount; Europe transfers of 10,000€ cost 15€. Transfers to Russia and CIS countries start from 1 USD/EUR.
- Agent/Representative Network Fees: UPT generates revenue through its network of agents and representatives (PTT offices, UPT branches, and third-party agents) who facilitate money transfers and may pay network participation fees.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Uzbekistan transfer fee: 0.75% of principal (min 3 USD/EUR) |
| Transaction based/ take rate | Pay-as-you-go | Kazakhstan cash pick-up: 1% of principal (min 2 USD/EUR); Account deposit: 0.75% of principal |
| Transaction based/ take rate | Pay-as-you-go | Azerbaijan: Fixed fees from 3-130 USD/EUR based on tiered brackets |
| Transaction based/ take rate | Pay-as-you-go | Jordan: Fixed fees from 7-80 USD/EUR based on amount brackets |
| Transaction based/ take rate | Pay-as-you-go | Yemen: Fixed fees from 8-95 USD/EUR based on amount |
| Transaction based/ take rate | Pay-as-you-go | Europe transfers: 10,000€ costs only 15€ |
| Transaction based/ take rate | Pay-as-you-go | Russia and CIS countries: Transfers from 1 USD/EUR |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels5 records
Universal Payment Transfer product offering
Product offeringCore offering
Universal Payment Transfer (UPT) is a licensed payment services and electronic money institution operating under Turkish Law No. 6493, enabling domestic and international money transfers, account deposits, credit card payments, and cash payouts across nearly 200 countries. Customers can send funds to a recipient's bank account, credit card, or name in TRY, USD, EUR, or GBP through a network of over 10,000 service points in Turkey and 400,000+ locations worldwide. UPT operates as a payment platform bridging Turkey with global corridors including Europe, CIS countries, Africa, and the Middle East.
Product overview
UPT (Universal Payment Transfer) is Turkey's first licensed payment institution operating under Law No. 6493, supervised by the Central Bank of the Republic of Türkiye. It functions as a global money transfer and payments platform that combines a network of over 10,000 domestic service points (PTT branches, UPT offices, and authorized agents) with more than 400,000 international locations across nearly 200 countries and 5 continents. The product portfolio consists of five integrated components: (1) Domestic Money Transfer — for sending cash to a recipient's name, bank account, or credit card within Turkey in TRY, USD, EUR, or GBP; (2) International Money Transfer — for cross-border cash payouts and account/card deposits worldwide; (3) UPT Corporate Online Branch — a web portal for business customers to manage transfers; (4) UPT Agent Network — a partnership program enabling businesses to become authorized service points; and (5) UPT Service Points — the physical retail footprint spanning Turkey and global partner networks. Same-name transfers are instantaneous; account and card transfers are automated.
Differentiator
Problem solved
Functional benefit
Products and services
- Domestic Money Transfer Cash-based money transfer service enabling senders to deliver funds to a recipient's name, bank account (IBAN), or credit card from UPT service points within Turkey in TRY, USD, EUR, or GBP. Same-day processing for transactions completed before 16:30 on business days.
- International Money Transfer Cross-border money transfer service covering nearly 200 countries, allowing recipients to withdraw cash at UPT service points worldwide or receive funds automatically to their bank account or credit card. Supports transfers in TRY, USD, EUR, and GBP.
- UPT Corporate Online Branch
Quantifiable outcome
- 10,000+ service locations in Turkey and 400,000+ worldwide
- +3 more outcomes
Companies that use Universal Payment Transfer
Customer profileSegments2 records
Ideal customer profiles2 records
Universal Payment Transfer technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Universal Payment Transfer partnerships and signals
Strategic signalPartnerships
21 partnerships are on record, tiered core and major.
- RiacoreRia Money Transfer is a global money transfer company operating as a UPT partner, enabling customers to send and receive money through UPT's network.
- WorldRemitcoreWorldRemit partners with UPT to provide international money transfer services through UPT's extensive network.
- Small WorldcoreSmall World is a international money transfer service partner of UPT.
- MoneyGramcoreMoneyGram international money transfer services available through UPT network.
- Naxcivan BankmajorNaxcivan Bank operates as a UPT partner in Azerbaijan region.
- Azer Turk BankmajorAzer Turk Bank provides UPT money transfer services in Azerbaijan.
- International Bank of AzerbaijanmajorInternational Bank of Azerbaijan serves as UPT partner for money transfers.
- Bank of GeorgiamajorBank of Georgia provides UPT services in Georgia.
- Banka Kombetare Tregtare (BKT)majorBanka Kombetare Tregtare operates in Albania and Kosovo as a UPT partner, with Chairman Mehmet Usta serving on its board.
- XalqbankmajorXalqbank provides UPT money transfer services.
- VisacoreVisa card network integration for money transfers to credit cards.
- MastercardcoreMastercard card network integration for money transfers to credit cards.
- TerraPaycoreTerraPay provides payment infrastructure integration for UPT's global network.
- ThunescoreThunes provides cross-border payment network integration.
- NiumcoreNium provides payment infrastructure services.
- TranglocoreTranglo provides cross-border payment routing services.
- DahabshiilmajorDahabshiil provides money transfer services through UPT network.
- Al Fardan ExchangemajorAl Fardan Exchange operates as UPT partner.
- MoneytransmajorMoneytrans provides money transfer services through UPT.
- Easy PaymajorEasy Pay provides money transfer services as UPT partner.
- PTT (Posta ve Telgraf Teşkilatı)coreTurkish Post (PTT) provides UPT services at all post offices across Turkey.
Scale indicators7 records
Recent moves7 records
Expansion highlights6 records
Universal Payment Transfer competitors and assessment
Company assessmentDirect peers
- Western Union: World's largest money transfer operator with a cash-pickup agent network spanning 200+ countries. UPT partners with Western Union-adjacent MTOs and competes head-on in Türkiye and CIS corridors via its 400,000+ service points.
- WorldRemit: Digital-first international money transfer operator and Core UPT partner. Competes with UPT on Türkiye-bound remittances from Europe/Gulf via mobile/online channels where UPT's brand is limited.
- Remitly: US-based digital remittance company focused on immigrant corridors. Targets the same Türkiye and CIS customer segments as UPT with mobile-first UX and lower per-transaction fees.
- Ria Money Transfer: Large US-headquartered MTO with 490,000+ locations in 160+ countries; listed as a Core channel partner for UPT. Both serve similar unbanked consumer segments via cash pickup and account deposit.
- Wise (TransferWise): Cross-border payments specialist offering multi-currency accounts and low-FX transfers. While not partnered with UPT, it competes directly on the inbound-Türkiye and outbound-CIS corridors via transparent, app-based pricing.
- Dahabshiil: Africa-focused MTO with strong Africa–Middle East and Africa–Europe corridors; one of UPT's Major channel partners. Directly overlaps in remittances into and out of the Horn of Africa, which UPT now advertises.
- Small World Money Transfer: Cross-border MTO operating in 200+ countries with 300,000+ retail locations and listed as a Core UPT partner. Both target corridors in Europe, MENA, and Asia-Pacific.
- MoneyGram: Global MTO operating an agent network across 200+ countries and one of UPT's stated Core channel partners. Both compete and cooperate on Türkiye–CIS, Europe and Americas corridors.
Emerging players
- TerraPay: Cross-border payments infrastructure provider that is also a UPT technology/integration partner. While TerraPay operates more B2B/B2B2C and doesn't directly compete at retail, it competes in the same underlying payout network business.
- Thunes: Global B2B payments network enabling payouts in 130+ countries; UPT integrates with Thunes (Core integration partner). Competes with UPT in cross-border B2B and digital wallet payouts rather than retail cash.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Universal Payment Transfer social profiles
Digital presenceUniversal Payment Transfer compliance and trust
Trust signalCompliance3 records
Universal Payment Transfer financial estimates
Financial estimateRevenue estimate
Valuation estimate
Universal Payment Transfer leadership team
Management profileNumber of profiles
Profiles10 records
Universal Payment Transfer funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Universal Payment Transfer M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Universal Payment Transfer
What does Universal Payment Transfer do?
Universal Payment Transfer (UPT) is a licensed payment services and electronic money institution operating under Turkish Law No. 6493, enabling domestic and international money transfers, account deposits, credit card payments, and cash payouts across nearly 200 countries. Customers can send funds to a recipient's bank account, credit card, or name in TRY, USD, EUR, or GBP through a network of over 10,000 service points in Turkey and 400,000+ locations worldwide. UPT operates as a payment platform bridging Turkey with global corridors including Europe, CIS countries, Africa, and the Middle East.
Is Universal Payment Transfer a public or private company?
Universal Payment Transfer is a private company. It is classified as corporate owned and is currently operating.
When was Universal Payment Transfer founded?
Universal Payment Transfer was founded in 2010. It employs 51 to 100 people.
Where is Universal Payment Transfer based?
Universal Payment Transfer is headquartered in Istanbul.
How does Universal Payment Transfer make money?
Two revenue lines are on record. Money Transfer Transaction Fees are the primary driver. The others are agent/Representative Network Fees.
Who are Universal Payment Transfer's main competitors?
Direct peers on record are Western Union, WorldRemit, Remitly, Ria Money Transfer, Wise (TransferWise), Dahabshiil, Small World Money Transfer and MoneyGram. Emerging players are TerraPay and Thunes.
Does Universal Payment Transfer have an API?
No public API is recorded for Universal Payment Transfer.
What industry is Universal Payment Transfer in?
Universal Payment Transfer's product category is Cross-border Money Transfer & Remittance Services. Its primary akta.pro industry code is FSAMAIAJ, Cross-Border Payouts & Mass Disbursements (Pay-outs), with a secondary code of FSAMAIAI, Cross-Border Collections & Local Receiving (Pay-ins). Its NAICS code is 52232 and its SIC code is 7370.