Portmanat
Portmanat is an Azerbaijani licensed electronic wallet platform, founded in 2010, that enables individual consumers to pay 200+ utility, telecom, banking, and government bills via web and mobile, and offers merchant checkout integration through APIs and SDKs.
- Company typePrivate
- Founded2010
- HeadquartersBaku, Azerbaijan
- Headcount11–50
- GTM typeB2C
- OfferingSoftware
What Portmanat does
Portmanat is an Azerbaijani electronic wallet platform operated by Mobile Payment Solutions MMC, founded in 2010 and headquartered in Baku. The platform enables individual consumers to pay for over 200 service types — including utilities (gas, electricity, water), mobile operators (Azercell, Bakcell, Nar), internet and cable TV providers, banking services, government fees, insurance, parking, taxis, hotels, education, and online entertainment — through a single mobile-first interface accessible via web portal and native Android/iOS applications. Users register with a mobile phone number and can also pay without registration via Portmanat Code vouchers purchased at MilliÖN, eManat, Expresspay, and Easypay payment terminals.
The underlying technology stack comprises a proprietary e-wallet engine, a REST-based Checkout API secured by MD5 token authentication, and native mobile SDKs (Android and iOS). Supporting features include two-factor authentication, SSL DV encryption, hosted infrastructure at Delta Telekom Data Center with 24/7 monitoring and real-time backup, payment templates, automatic recurring payments, an eKredit credit-advance module, and a physical Portmanat debit card with a Platinum identity-verified tier.
The business model is primarily transaction-fee based. Most standard consumer payments are processed commission-free; fee revenue is generated from specific bank card deposit commissions (2.5% at most banks, 3.5% at Unibank, 0.2%+1 AZN at Paşabank), eKredit credit-advance commissions, and revenue sharing with payment-agent terminals. Portmanat pursues a multi-channel go-to-market combining product-led self-serve onboarding, channel-partner distribution through physical terminals, and an API-first merchant acquisition motion via partners.portmanat.az. Customer segments include individual consumers (primary), online merchants integrating Checkout, and service-provider businesses receiving bill payments through the platform. The company holds Electronic Payment Organization license EPT-005 from the Central Bank of Azerbaijan, issued July 8, 2024.
Portmanat firmographics
Firmographics- Name
- Portmanat
- Legal name
- Mobile Payment Solutions MMC
- Website
- https://portmanat.az
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Portmanat is an Azerbaijani licensed electronic wallet platform, founded in 2010, that enables individual consumers to pay 200+ utility, telecom, banking, and government bills via web and mobile, and offers merchant checkout integration through APIs and SDKs.
- Ownership category
- akta.pro rank
Portmanat industry classification
Industry- Product category
- Digital Payment Platform
- akta.pro primary industry
- Digital Wallet Infrastructure (Tokenization, Wallet-as-a-Service) (FSAMAEAI)
Keywords
Where Portmanat is headquartered
LocationHeadquarters
- HQ city
- Baku
- HQ country
- Azerbaijan
- HQ region
- Asia
Offices2 records
Markets served
Portmanat business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales
Revenue model
- Transaction/Payment Processing Fees: Portmanat charges commission fees on payment transactions processed through its platform. Most standard payments do not carry additional commissions per the FAQ. However, specific merchant services (e.g., AFB Bank, Leo Bank, Kapital Bank) carry a 2.5% commission; Unibank card deposit carries 3.5%; Paşabank carries 0.2% + 1.0 AZN. These commissions are collected from the customer making the payment.
- eKredit Service Fees: When users utilize the eKredit advance feature to make payments without sufficient balance, Portmanat charges a commission fee for the credit service, generating revenue from the interest/fees on the short-term credit advance.
- Partner/Agent Commission: When services are accessed through payment agents (MilliÖN, eManat, Expresspay, Easypay), the agent may charge an additional commission fee on top of Portmanat's standard rates. Portmanat acts as the platform provider and shares revenue with its agent network.
- Business Partner API/Checkout Fees: Business partners integrating Portmanat Checkout pay fees for transaction processing through the API. Partner payments are settled on the 5th-10th of each month with a minimum payout threshold of 50 AZN.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard payment processing — no commission |
| Transaction based/ take rate | Pay-as-you-go | Bank card deposit services — 2.5% commission |
| Transaction based/ take rate | Pay-as-you-go | Unibank card deposit — 3.5% commission |
| Transaction based/ take rate | Pay-as-you-go | Paşabank payments — 0.2% + 1.0 AZN commission |
| Transaction based/ take rate | Pay-as-you-go | Bank of Baku — commission-free up to 200 AZN, then 1% (min 1 AZN) |
| Transaction based/ take rate | Monthly | Partner payout settlement — monthly, 50 AZN minimum |
| Transaction based/ take rate | Pay-as-you-go | Referral bonus — 1 AZN per qualifying referral |
| Unit Pricing | Pay-as-you-go | Daily payment limits — 200 to 800 AZN |
Go-to-market motion3 records
Distribution channels7 records
Marketing channels6 records
Portmanat product offering
Product offeringCore offering
Portmanat is a licensed electronic wallet (e-wallet) and digital payment platform operated by Mobile Payment Solutions MMC in Azerbaijan, enabling users to make daily payments, money transfers, balance top-ups, and bill payments for more than 200 service providers across utilities, telecom, banking, government, and consumer categories. Services are delivered through a website, Android and iOS mobile applications, an extensive payment terminal network, and a Checkout API/SDK for merchant integration.
Product overview
Portmanat is an electronic wallet platform operated by Mobile Payment Solutions MMC, licensed by the Central Bank of Azerbaijan (EPT-005). The core offering is the Portmanat e-wallet enabling daily payments, money transfers, and balance management. The platform operates a modular architecture with the core wallet, Portmanat Checkout API for merchant integrations, mobile SDKs (Android/iOS), physical plastic card, Portmanat Code vouchers, eKredit credit service, auto-payment scheduling, and referral programs. The ecosystem processes over 200 payment types spanning utilities, telecom, banking, government services, and retail through a network of integrated billers.
Differentiator
Problem solved
Functional benefit
Products and services
- Portmanat E-Wallet
- Portmanat Checkout
- eKredit
- Portmanat Plastic Card
- Portmanat Payment Service Directory
- Portmanat Code (Electronic Voucher)
Companies that use Portmanat
Customer profileSegments3 records
Ideal customer profiles3 records
Portmanat technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature9 records
Portmanat partnerships and signals
Strategic signalPartnerships
17 partnerships are on record, tiered core and major.
- Delta Telekom Data CentercorePortmanat's server infrastructure is hosted at Delta Telekom Data Center, which meets international security and energy resilience standards including TIER level requirements, generator backup, and physical access control. This partnership ensures 24/7 monitoring and real-time data synchronization for the platform.
- MilliÖNcoreMilliÖN is a major Azerbaijani payment terminal network. Portmanat has integrated with MilliÖN, allowing users to purchase Portmanat Codes and top up their balances at MilliÖN terminals nationwide. Users select 'Elektron pul kisəsi' > 'Portmanat', enter their registered mobile number, and deposit cash.
- eManatcoreeManat is an Azerbaijani payment terminal network. Portmanat is integrated with eManat, enabling users to buy Portmanat Codes and top up their e-wallet balance at eManat terminals. Users select 'E-pulqabı' > 'Portmanat', enter their registered number, and deposit funds.
- ExpresspaycoreExpresspay is an Azerbaijani payment service provider. Portmanat users can purchase Portmanat Codes at Expresspay terminals, enabling cash-based top-ups and one-time payments without a registered account.
- EasypaycoreEasypay is an Azerbaijani payment terminal network integrated with Portmanat, allowing users to purchase Portmanat Codes and fund their digital wallets at Easypay kiosks across the country.
- Visa and MastercardcorePortmanat supports Visa and Mastercard payment networks, as evidenced by the card brand logos displayed on the platform. Users can top up their Portmanat balance using plastic cards issued on these networks.
- AzercellmajorAzercell is Azerbaijan's largest mobile operator. Portmanat enables Azercell mobile top-up payments, allowing users to recharge their Azercell balance directly through the Portmanat platform.
- BakcellmajorBakcell is an Azerbaijani mobile operator. Portmanat provides Bakcell mobile top-up payment services, enabling users to recharge Bakcell numbers through the Portmanat platform.
- Nar MobilemajorNar is an Azerbaijani mobile operator. Portmanat supports Nar mobile top-up payments, allowing users to add balance to their Nar mobile accounts.
- Azersu (ADSEA)majorAzersu OJSC is Azerbaijan's national water utility. Portmanat enables water bill payments for Azersu customers, supporting both residential (əhali) and non-residential (qeyri-əhali) payment categories.
- AzəriqazmajorAzəriqaz is Azerbaijan's state gas distribution company. Portmanat processes Azəriqaz gas bill payments for both residential and non-residential customers, including greenhouse (istixana) accounts.
- AzərişıqmajorAzərişıq is Azerbaijan's state electricity distribution company. Portmanat supports electricity bill payments for Azərişıq customers including smart card top-up and restoration services.
- ABB (Azerbaijan Bank)majorABB (Azerbaijan Commercial Bank) is a major Azerbaijani bank. Portmanat enables credit card payment services for ABB customers, with a 2.5% commission on transactions.
- Kapital BankmajorKapital Bank is one of Azerbaijan's largest banks. Portmanat processes credit card payments for Kapital Bank customers via integration, with a 2.5% commission applied.
- PaşabankmajorPaşabank is an Azerbaijani bank. Portmanat supports current account top-ups, card account deposits (with VÖEN or FİN), with commissions of 0.2% + 1 AZN for business accounts and 2.5% for personal FİN-based deposits.
- UnibankmajorUnibank is an Azerbaijani bank. Portmanat processes Unibank card deposits (mədaxil) with a 3.5% commission and credit payments, serving as a digital payment channel for Unibank customers.
- Aztelekom/BaktelecommajorAztekom/Baktelecom is Azerbaijan's state telecom company. Portmanat enables payments for all Aztelekom services including internet, TV, and telephone through a unified integration covering multiple service types.
Scale indicators2 records
Recent moves6 records
Expansion highlights5 records
Portmanat competitors and assessment
Company assessmentBroad incumbents
- Papara: Turkish licensed e-money institution offering a consumer wallet, card, and merchant payments. Comparable as a regional licensed digital wallet incumbent with a similar product surface (P2P, top-ups, merchant checkout) but at significantly greater scale.
- Kaspi.kz: Kazakhstan super-app combining payments, marketplace, and fintech. Comparable as a regional wallet-plus-services incumbent whose scale and biller integrations illustrate the upside if Portmanat can deepen its Azerbaijani offering.
- Stripe: Global payment infrastructure provider offering wallet-style checkout and developer APIs. Comparable to Portmanat's Checkout API/SDK offering on the merchant-integration side, though serving a much broader merchant base.
- QIWI: Long-standing CIS-focused digital wallet and payment processor serving consumers and merchants across Russia and neighboring markets. Comparable as a larger, broadly-played e-wallet incumbent in the post-Soviet payments space, though not active in Azerbaijan.
Direct peers
- Birbank (Kapital Bank): Bank-issued super-app wallet from one of Azerbaijan's largest banks. Directly comparable as a consumer wallet competing for the same payments, transfers, and QR/P2P use cases, but backed by a Tier-1 balance sheet.
- eManat (Azerbaijan): Azerbaijani payment terminal network that also functions as an electronic wallet on the consumer side. Directly comparable to Portmanat because it operates across the same Azerbaijani biller ecosystem and uses a similar cash-to-digital top-up flow; in fact, eManat is one of Portmanat's distribution partners.
- Payriff: Azerbaijani digital wallet operating in the same domestic market with a similar bill-payment and merchant-checkout proposition. Serves overlapping Azerbaijani consumer and merchant segments, competing for the same e-wallet usage occasions.
- MilliÖN (payment terminals): Azerbaijani cash-in payment terminal network used both as a top-up channel for Portmanat wallets and as a competing consumer payment touchpoint. Directly comparable as a parallel distribution/instrument for underbanked users in the same market.
- Expresspay (Azerbaijan): Azerbaijani payment service provider offering payment terminal and online payment services in the same domestic market. Comparable to Portmanat because it both competes with and distributes Portmanat Codes via its terminal network.
Regional players
- Payme (Uzbekistan): Uzbekistan-focused digital wallet and merchant payments platform with bill-pay, P2P, and merchant checkout functionality. Comparable as a regional peer in a neighboring emerging market pursuing the same wallet-plus-biller-aggregation strategy.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Portmanat social profiles
Digital presencePortmanat compliance and trust
Trust signalCompliance2 records
Portmanat financial estimates
Financial estimateRevenue estimate
Valuation estimate
Portmanat leadership team
Management profileNumber of profiles
Profiles1 record
Portmanat funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Portmanat 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 Portmanat
What does Portmanat do?
Portmanat is a licensed electronic wallet (e-wallet) and digital payment platform operated by Mobile Payment Solutions MMC in Azerbaijan, enabling users to make daily payments, money transfers, balance top-ups, and bill payments for more than 200 service providers across utilities, telecom, banking, government, and consumer categories. Services are delivered through a website, Android and iOS mobile applications, an extensive payment terminal network, and a Checkout API/SDK for merchant integration.
Is Portmanat a public or private company?
Portmanat is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Portmanat founded?
Portmanat was founded in 2010. It employs 11 to 50 people.
Where is Portmanat based?
Portmanat is headquartered in Baku, Azerbaijan, in the Asia region.
How does Portmanat make money?
Four revenue lines are on record. Transaction/Payment Processing Fees are the primary driver. The others are eKredit Service Fees, partner/Agent Commission and business Partner API/Checkout Fees.
Who are Portmanat's main competitors?
Broad incumbents on record are Papara, Kaspi.kz, Stripe and QIWI. Direct peers are Birbank (Kapital Bank), eManat (Azerbaijan), Payriff, MilliÖN (payment terminals) and Expresspay (Azerbaijan). Payme (Uzbekistan) is listed as a regional player.
Does Portmanat have an API?
Yes. Portmanat Checkout API enables merchants to integrate payment processing. Partners register at partners.portmanat.az, add services, and receive credentials (service_id, secret_key). Payments are processed via POST to https://checkout.portmanat.az/create with payment_type, service_id, order_id, amount, and MD5 token. Token is generated by concatenating service_id, order_id, amount, and secret_key in sequence. Status checks available at https://checkout.portmanat.az/operation/status/{transaction}. Supports PHP, Python, Java code examples. Response formats include JSON with transaction details. Developer documentation is at portmanat.az/page/api.
What industry is Portmanat in?
Portmanat's product category is Digital Payment Platform. Its primary akta.pro industry code is FSAMAEAI, Digital Wallet Infrastructure (Tokenization, Wallet-as-a-Service).