United Payment becomes majority shareholder of Turan

United Payment, which operates in the financial technology sector both domestically and internationally, continues to grow through strategic acquisitions. By acquiring a majority stake in the Turan application, United Payment aims to strengthen financial integration among Turkic states.

Turan is a financial application that enables money transfers between Turkic states in seconds, particularly involving Azerbaijan, Kazakhstan, the TRNC, Kyrgyzstan, and Uzbekistan. Reaching more than 500 thousand customers, the application allows Turkic people living in Turkey to benefit from financial services entirely digitally.

''THIS IS THE MOST MEANINGFUL STOP ON OUR JOURNEY''

Commenting on United Payment becoming the majority shareholder, Turan Founder Özgür Bayraktar stated that this merger is a significant turning point for the financial ecosystem in the region:

"We set out on October 29, 2022, with big dreams and a strong belief. We left no stone unturned in the Turkistan geography. We grew with every step and achieved great things. Today, we are proud to reach one of the most meaningful stops on this journey. The agreement we have made regarding the sale of our company's majority shares to United Payment, one of Turkey's most established and powerful financial institutions, is a strong expression of our determination to shape the future together. We will continue to work side by side, shoulder to shoulder with United Payment with the same passion and excitement."

FINANCIAL BRIDGE BEING BUILT BETWEEN TURKIC STATES

Turan, which has local offices in Azerbaijan and Uzbekistan, will further accelerate financial transactions between Turkic states and expand accessible financial services together with United Payment.

This acquisition, which will be completed following the approval of the Competition Authority, is recorded as one of United Payment's biggest moves in the fintech ecosystem and is expected to make a significant contribution to strengthening financial integration in the Turkic World.

Source: Netizen Global

News Source: 12punto