N Kolay

What N Kolay does

N Kolay Ödeme ve Elektronik Para Kuruluşu A.Ş. is a Turkey-licensed payment and electronic money institution operating since 2006 and formally incorporated in January 2014 as a 90%-owned subsidiary of Aktif Yatırım Bankası A.Ş. The company provides bill collection, domestic and international money transfer, GSM top-up, prepaid card loading, and subscription/payment services to approximately 8 million unique customers, processing around 80 million transactions annually with a gross transaction value of TRY 7.2-7.5 billion. Its primary customer base is unbanked, underbanked, and cash-preferred Turkish consumers (predominantly middle-aged citizens and housewives) who lack digital banking access or prefer physical service points over online channels.

The platform combines dedicated Transaction Centres (~650 dealer-operated locations), Workplace Kiosks (~3,500 devices installed in grocery stores, petrol stations, and mobile shops), and a strategic partnership with ŞOK Market (~8,000 stores) to deliver a 14,000+ point network across all 81 Turkish provinces. The technology stack is built on a kiosk-based payment infrastructure integrated with 200+ bill-issuing institutions, 3 GSM operator e-money platforms, and 6-7 Turkish bank APIs. Sub-brands include Pay N Kolay (physical/virtual POS, Pay by Link, automatic payments) and Bakkalım POS (grocer-specific POS with installment options), with N Kolay Panel serving as the merchant dashboard. The company is preparing to launch a proprietary mobile application integrating payment account services and open banking connectivity via BKM.

The business model is transaction-fee based: N Kolay charges commission on each bill payment, money transfer, credit card payment, GSM top-up, and POS transaction processed through its network, then shares a portion of that commission with its dealer network. Consumer-facing fees range TRY 7.5-45 per transaction depending on service type, with maximum service fees set by the regulator. The company employs 85 staff directly and supports over 2,000 total employment including 570 self-employed authorized transaction centres and their employees. Capital structure as of 2024 records shows paid-in capital of TRY 9 million and equity of TRY 1.019 billion, indicating a mature, retained-earnings-financed operating profile with no disclosed venture capital or private equity rounds.

Name

N Kolay

Legal name

N Kolay Ödeme ve Elektronik Para Kuruluşu A.Ş.

Website

https://nkolayislem.com.tr

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

101–250 employees

Short description

N Kolay is a Turkey-licensed payment institution operating 14,000+ service points across all 81 provinces, serving approximately 8 million unbanked and cash-preferred consumers with bill payment, money transfer, and POS services through a dealer network as a subsidiary of Aktif Bank.

Ownership category

akta.pro rank

Product category

Payment Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

akta.pro primary industry

Integrated Payment Processors (PSP/Acquirer) (FSAMABAA)

akta.pro secondary industries

Integrated POS Payments (ISVs & Vertical POS Platforms) (FSAMADAD), Cross-Border Payouts & Mass Disbursements (Pay-outs) (FSAMAIAJ)

Keywords

• Bill payment services
• Money transfer services
• POS solutions
• Payment institution
• Electronic money services

Headquarters

HQ city

Zeytinburnu

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Transaction Commissions: Commission fees charged on each transaction processed through the dealer network. Dealers receive a share of commissions while N Kolay retains a portion. Transaction types include bill payments, money transfers, credit card payments, GSM top-ups, and other payment services.
2. POS Services: Physical and virtual POS (payment facilitator) services provided to merchants with commission rates on card transactions
3. Service Fees: Consumer-facing service fees: bill payments (10-25 TL), credit card payments (15-45 TL), money transfers (7.5 TL at ŞOK), prepaid card top-ups (7.5-25 TL)

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

N Kolay is a licensed Payment and Electronic Money Institution that operates Turkey's most widespread payment network with approximately 14,000 service points across all 81 provinces. The company provides bill collection (electricity, water, gas, telecom, GSM), domestic and international money transfers, credit card debt payments, prepaid card loading, and physical/virtual POS services to merchants. It serves approximately 8 million unique customers processing around 80 million transactions annually valued at TRY 7.2-7.5 billion, operating as a subsidiary of Aktif Yatırım Bankası A.Ş.

Product overview

N Kolay is a unified payment services platform offering a comprehensive suite of financial transaction services. The core N Kolay platform provides bill collection (electricity, water, gas, telecom, GSM) and domestic/international money transfers through approximately 14,000 physical points and online channels, serving 8 million customers. The ecosystem is expanded through Pay N Kolay (POS solutions for merchants), N Kolay Kiosk (self-service devices at retail locations), and the ŞOK İŞLEM partnership providing services at ŞOK retail stores. Additional offerings include N Kolay Card (prepaid card), Bakkalım POS (grocery-specific POS), and N Kolay Panel (merchant management dashboard). The company is preparing to launch a mobile application integrating payment accounts and open banking services.

Differentiator

Problem solved

Functional benefit

Brands

• Pay N Kolay: Virtual and physical POS solutions for merchants with affordable rates
• Bakkalım POS
• Nkolay Panel
• ŞOK İŞLEM

Products and services

• N Kolay Bill Payment Services
• Money Transfer Services
• Pay N Kolay POS Solutions
• Bakkalım POS
• N Kolay Card Top-up
• ŞOK İŞLEM
• Online Bill Payment Portal
• N Kolay Dealer Programme (Temsilcilik)
• Credit Card Debt Payment Services
• City Transport Card Top-up
• GSM TL Loading Services

Quantifiable outcome

• Serves 8 million unique customers with approximately 80 million annual transactions valued at TRY 7.2-7.5 billion
• +2 more outcomes

Named customers12 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

Five partnerships are on record, tiered core.

• ŞOK MarketcoreChannel Partner/ Reseller/ Distributor · 1 January 2019Strategic partnership with ŞOK Mağazacılık (one of Turkey's largest retail chains with 7,400+ stores in 81 provinces). N Kolay provides bill payment and money transfer services at all ŞOK store checkouts. Customers can pay electricity, water, natural gas, telephone, cable TV, and internet bills while shopping, and transfer money 7 days a week during store hours.
• TurkcellcoreChannel Partner/ Reseller/ DistributorE-money partnership with Turkcell for mobile credit top-up services and bill payment processing at N Kolay locations.
• VodafonecoreChannel Partner/ Reseller/ DistributorE-money partnership with Vodafone for mobile credit top-up services and bill payment processing at N Kolay locations.
• Türk TelekomcoreChannel Partner/ Reseller/ DistributorE-money partnership with Türk Telekom for mobile and landline credit top-up services and bill payment processing at N Kolay locations.
• Bill-issuing Institutions (200+)coreChannel Partner/ Reseller/ DistributorPartnerships with 200+ institutions including electricity providers (YEPAŞ, CLK Boğaziçi, CLK Akdeniz, Enerjisa, Aras, Limak), natural gas companies (İgdaş, Kayseri Gaz), and telecommunications companies for bill collection services.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• PayTR: Turkish payment institution offering virtual POS, physical POS, and marketplace payment infrastructure for SMEs. Closely comparable in the merchant acquiring/POS services segment where N Kolay is expanding.
• Sipay: Turkish fintech providing payment processing, POS acquiring, and digital banking infrastructure. Comparable as a licensed EMI serving SMEs with both acquiring and bill collection services.
• İninal: Turkish prepaid card and payment platform serving unbanked consumers with cash-in/cash-out, bill payments, and digital wallet features. Directly comparable target segment (cash-preferred, underbanked) and product suite.
• Paycell (Turkcell): Mobile operator-affiliated payment institution providing bill payment, money transfer, and merchant services across Turkey. Comparable as a licensed EMI with similar bill collection and digital payment offerings.
• UPT Ödeme Hizmetleri: Sister company within the Aktif Bank ecosystem and one of Turkey's first licensed money transfer institutions. Directly comparable as a Turkish EMI offering domestic and international money transfers with a similar regulatory profile.

Emerging players

• Hepsipay (Hepsiburada): Embedded payment wallet within Turkey's largest e-commerce platform. Offers bill payments, money transfers, and merchant services with strong digital UX — a credible threat to traditional EMI channels.
• Papara: Turkey's leading digital wallet and EMI serving millions of users with P2P transfers, bill payments, and prepaid cards. Competes for the same consumer payment wallet share, especially with younger, digital-native customers.
• Parolapara: Turkish licensed payment institution offering digital wallet, prepaid card, and bill payment services. Comparable emerging EMI targeting similar cash-to-digital transition with younger consumers.

Others

• BKM (Bankalararası Kart Merkezi): Turkey's interbank card centre operating national payment switching (BKM Express/TR Karekod). Indirect comparator as the central infrastructure N Kolay integrates with for card payments and open banking.

Broad incumbents

• Türk Telekom Ödeme (TT Ödeme): Payment institution subsidiary of Türk Telekom offering bill payment, money transfer, and e-money services. Comparable as a vertically integrated telecom-affiliated EMI serving similar customer needs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/nkolayislem
• LinkedInlinkedin.com/company/nkolayislem

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 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 N Kolay