Name

Vodafone Pay

Legal name

Vodafone Elektronik Para ve Ödeme Hizmetleri A.Ş.

Website

https://www.vodafonepay.com.tr

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Mobile Payments and Digital Wallet

NAICS

Credit Card Issuing (522210)

SIC

Finance Services (6199)

akta.pro primary industry

Carrier Billing & Telco Mobile Money (FSAMAEAD)

akta.pro secondary industry

Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB)

Keywords

• Mobile wallet
• Prepaid card
• Electronic money
• QR payments
• Bill payment services

Headquarters

HQ city

Istanbul

HQ country

Türkiye

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Faturana Yansıt Service Fee: Monthly service fee charged for Faturana Yansıt feature. The fee is 31.90 TL per month, collected once per billing cycle when the user makes at least one transaction during the month.
2. Transaction Fees: Fees collected on payment transactions processed through the platform, including QR payments and card transactions.
3. Cashback Commission: Commission earned from partner brands when users make purchases through the platform, funded by cashback campaigns where brands offer rebates to attract customers.
4. E-Money Issuance: Revenue from electronic money issuance services as a licensed electronic money institution under BDDK regulation.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Vodafone Pay operates a consumer mobile wallet application paired with a Visa-branded prepaid card, allowing individual users in Turkey to load funds, make in-store and online payments, transfer money, pay bills via QR code and direct bill-reflection, and earn cashback rewards. The service is delivered by the licensed e-money entity VEPAŞ and is distributed primarily through Vodafone Turkey's retail and digital channels.

Product overview

Vodafone Pay is a mobile wallet and financial technology platform operated by Vodafone Elektronik Para ve Ödeme Hizmetleri A.Ş. (VEPAŞ), offering a unified ecosystem of payment products. The core offering consists of the Vodafone Pay Application (mobile wallet) that serves as the central hub, complemented by the Vodafone Pay Kart (prepaid card available in physical and virtual formats), Faturana Yansıt (bill-to-mobile payments), QR ile Faturana Yansıt (QR code-based in-store bill payments), and Anında Bakiye (instant balance transfer to card). The platform enables users to make in-store and online purchases, earn cashback rewards, top up transit cards (İstanbulkart), and defer payments to their mobile bill—all without requiring a traditional bank account.

Differentiator

Problem solved

Functional benefit

Products and services

• Vodafone Pay Application Consumer mobile wallet app for individual Vodafone subscribers in Turkey to load funds, pay bills, transfer money, and access payment features.
• Vodafone Pay Kart Visa-branded prepaid card linked to the Vodafone Pay wallet, enabling card-based in-store and online spending for individual users.
• Faturana Yansıt Bill-reflection service that allows users to post eligible payments and purchases directly to their Vodafone mobile bill.
• QR ile Faturana Yansıt QR-code based bill-reflection feature that enables users to scan a QR code to pay or post bills via the Vodafone Pay app.
• Anında Bakiye Instant balance top-up service allowing users to credit their Vodafone Pay wallet immediately via supported funding methods.

Quantifiable outcome

• Up to 1,500 TL monthly cashback for FreeZone members
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability2 records

Feature7 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• VisacoreTechnology or IntegrationVodafone Pay cards are issued in partnership with Visa, enabling usage at all Visa-accepting merchants worldwide for both online and physical card transactions.
• TROYcoreTechnology or IntegrationTROY is the Turkish domestic card scheme. Vodafone Pay cards are issued with both Visa and TROY options, enabling acceptance at all POS devices in Turkey.
• Partner Brands (Cashback Ecosystem)coreGTM or Marketing PartnerOver 100 partner brands including Biletinial, DeFacto, Hepsiburada, TıklaGelsin, Migros Yemek, HOP, ByNoGame, Microsoft Game Pass, Netflix, Spotify, and more. These partners offer cashback rewards to Vodafone Pay users.
• İstanbulkart (İstanbul Ulaşım)coreTechnology or IntegrationVodafone Pay enables NFC-based balance loading for Istanbulkart transportation cards, allowing users to load credit directly from the app.
• E-commerce Retailers (Card Distribution)minorChannel Partner/ Reseller/ DistributorPhysical Vodafone Pay cards distributed through select e-commerce platforms including CarrefourSA, Çiçeksepeti, N11, Teknosa, and Trendyol.
• Vodafone FreeZonecoreGTM or Marketing PartnerFreeZone loyalty program members receive enhanced cashback benefits, with up to 1,500 TL monthly cashback on partner brand purchases made through Vodafone Pay.
• BDDK (Banks Association of Turkey)coreOthersRegulatory oversight as the licensed electronic money institution. BDDK granted the e-money license on 20.07.2017.
• TCMB (Central Bank of the Republic of Turkey)coreOthersSupervisory authority since January 2020. The company operates under TCMB oversight as an e-money institution.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Paytm: India's leading mobile wallet and payments platform offering prepaid cards, bill payment, QR, and cashback. It is a comparable super-app wallet targeting unbanked consumers in an emerging market.
• İninal: Turkey-based prepaid card and e-wallet provider focused on unbanked and youth consumers. It overlaps with Vodafone Pay's 12+ unbanked positioning and prepaid card distribution model.

Direct peers

• Paycell (Turkcell): Turkcell's mobile wallet and e-money platform targeting Turkcell subscribers with prepaid cards, QR payments, and carrier billing. It is the closest telco-mobile-money analog to Vodafone Pay and a direct competitor in the same Turkish market.
• Param (Turkcell): Turkcell's licensed e-money institution offering prepaid cards and digital payments. It is a sister telco-wallet competitor fighting for the same carrier-billing and prepaid use cases Vodafone Pay targets.
• Papara: Turkey's leading independent e-money/digital wallet issuer, offering prepaid cards, person-to-person transfers, bill payments, and cashback. It is the most direct domestic competitor to Vodafone Pay across the same prepaid/transit/bill-payment workflows.
• fastPay: Turkish mobile-first e-money/wallet offering prepaid card, P2P, and bill payments. It competes directly with Vodafone Pay for young, unbanked, and digital-first Turkish consumers.

Broad incumbents

• Apple Pay: Global digital wallet and contactless payment platform. It is a broad incumbent in the digital wallet category, competing with Vodafone Pay at the contactless/in-store payment layer.
• Garanti BBVA (Bonus & Money Transfer): Leading Turkish bank offering mobile wallet, prepaid cards, and cashback ecosystems. As a licensed depository institution, it competes with Vodafone Pay for the same consumer payments and loyalty use cases at greater scale.
• BKM Express: Turkey's national interoperable digital wallet/payment platform operated under the Interbank Card Center. It is a broader incumbent that overlaps with Vodafone Pay's QR and online payment ambitions.

Regional players

• OPay: Africa-focused mobile money/wallet offering cards, bill payment, and merchant services. While geographically distinct, it is a comparable telco-adjacent wallet model targeting unbanked consumers in emerging markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/vodafone-elektronik-para-ve-%C3%B6deme-hizmetleri-a-%C5%9F

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

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 Vodafone Pay