Universal Payment Transfer

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.

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

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

• Money transfer services
• Cross-border remittance
• Electronic money institution
• Payment institution services
• Cash payout network

Headquarters

HQ city

Istanbul

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. 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.
2. 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

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core 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

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

21 partnerships are on record, tiered core and major.

• RiacoreChannel Partner/ Reseller/ DistributorRia Money Transfer is a global money transfer company operating as a UPT partner, enabling customers to send and receive money through UPT's network.
• WorldRemitcoreChannel Partner/ Reseller/ DistributorWorldRemit partners with UPT to provide international money transfer services through UPT's extensive network.
• Small WorldcoreChannel Partner/ Reseller/ DistributorSmall World is a international money transfer service partner of UPT.
• MoneyGramcoreChannel Partner/ Reseller/ DistributorMoneyGram international money transfer services available through UPT network.
• Naxcivan BankmajorChannel Partner/ Reseller/ DistributorNaxcivan Bank operates as a UPT partner in Azerbaijan region.
• Azer Turk BankmajorChannel Partner/ Reseller/ DistributorAzer Turk Bank provides UPT money transfer services in Azerbaijan.
• International Bank of AzerbaijanmajorChannel Partner/ Reseller/ DistributorInternational Bank of Azerbaijan serves as UPT partner for money transfers.
• Bank of GeorgiamajorChannel Partner/ Reseller/ DistributorBank of Georgia provides UPT services in Georgia.
• Banka Kombetare Tregtare (BKT)majorChannel Partner/ Reseller/ DistributorBanka Kombetare Tregtare operates in Albania and Kosovo as a UPT partner, with Chairman Mehmet Usta serving on its board.
• XalqbankmajorChannel Partner/ Reseller/ DistributorXalqbank provides UPT money transfer services.
• VisacoreTechnology or IntegrationVisa card network integration for money transfers to credit cards.
• MastercardcoreTechnology or IntegrationMastercard card network integration for money transfers to credit cards.
• TerraPaycoreTechnology or IntegrationTerraPay provides payment infrastructure integration for UPT's global network.
• ThunescoreTechnology or IntegrationThunes provides cross-border payment network integration.
• NiumcoreTechnology or IntegrationNium provides payment infrastructure services.
• TranglocoreTechnology or IntegrationTranglo provides cross-border payment routing services.
• DahabshiilmajorChannel Partner/ Reseller/ DistributorDahabshiil provides money transfer services through UPT network.
• Al Fardan ExchangemajorChannel Partner/ Reseller/ DistributorAl Fardan Exchange operates as UPT partner.
• MoneytransmajorChannel Partner/ Reseller/ DistributorMoneytrans provides money transfer services through UPT.
• Easy PaymajorChannel Partner/ Reseller/ DistributorEasy Pay provides money transfer services as UPT partner.
• PTT (Posta ve Telgraf Teşkilatı)coreChannel Partner/ Reseller/ DistributorTurkish Post (PTT) provides UPT services at all post offices across Turkey.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct 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

• Xx.com/uptint
• Facebookfacebook.com/uptint
• LinkedInlinkedin.com/company/UPTint
• Instagraminstagram.com/UPTint

Compliance3 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 Universal Payment Transfer