Home Business Insights & Advice Ozan Electronic Money grew 10 times in 2024

Ozan Electronic Money grew 10 times in 2024

by Sarah Dunsby
20th May 24 3:44 pm

Ozan Electronic Money kicked off the new year building on its robust growth from 2023 and announcing remarkable results for the first quarter of 2024.    The pioneering fintech not only formed new alliances but also launched an array of innovative financial solutions and payment products in 2023. As a result, its transaction volume in Q1 2024 leapt to ten times that of Q1 2023.

Ozan Elektronik Para (Ozan Electronic Money) has jumped up in growth versus the same period last year thanks to innovative payment solutions and strategic collaborations tailored to the needs of individuals and businesses. The company made successful launches such as the Fiji product line, which integrates physical and digital payment methods at sale points, and Merchant Wallet, a new digital wallet application embraced by thousands of SMEs throughout Turkey. Recently, Ozan teamed up with Verifone to introduce Eko Kasa POS (Cashier’s POS), spreading quickly among merchants nationwide. Additionally, the company became a Mastercard’s Engage Partner Program member at the start of 2024.

CEO Ömer Suner: Innovative, cost-effective solutions for diverse industries

Ozan Elektronik Para CEO Ömer Suner commented on their positive momentum: “I’m proud of our team realising 10-fold growth in the first quarter versus the same period last year. It’s what happens when we work with strategic partners to build new products and offer well-thought-out, distinctive payment solutions. I’m encouraged to see that our drive to bring novelty to this sector is well-received.

We challenge not only conventional finance but also the common fintech practices invented a decade ago. Our payment solutions provide businesses with the tools to offer a modern shopping experience, comply with industry standards, and take companies forward in their financial transformation. We aim to make financial services more accessible, transparent, and user-friendly through digital innovation. As technology and markets evolve, so must we.

We focus primarily on understanding customer needs and market demands to shape our product development, a constant at Ozan.  In the upcoming period, we plan to create products that help exporters make and receive global payments more efficiently, giving them a competitive advantage. New products for invoice financing and commercial loans through bank partnerships are also in the works. Ozan will continue to offer innovative, cost-effective payment solutions for businesses of all sizes and industries. Our goal is not only to tackle today’s challenges but also to seize tomorrow’s opportunities.”

Dr Ozan Ozerk: Ozan Electronic Money is widening its global reach

Ozan Elektronik Para Founder Dr Ozan Ozerk explained how their approach is leading them to global markets: “At Ozan Elektronik Para, we start by getting to know the specific needs of businesses and consumers, then crafting personalised solutions that speak to them. In the dynamic Turkish market, our diverse payment solutions and the insights we’ve gained have been crucial as we look to expand internationally.

We extend partnerships worldwide to position Ozan as a reliable, accessible financial solutions partner for everyone. Our membership in the Mastercard Engage Partner Program is a step towards widening our global reach for current and potential customers, opening doors to new opportunities in innovation and technology to transform the financial sector. These efforts are paving our way into markets like the UK, Europe, and the United States in the near term.”

About Ozan Elektronik Para (EMI – Ozan Electronic Money Institution)

Ozan Elektronik Para is an electronic money institution in Turkey with licenses and memberships from Visa, Mastercard, UnionPay, BKM, and Troy. Its Ozan SuperApp/Ozan SuperCard products provide individual financial solutions to end-users. Meanwhile, Ozan Business products address all the payment and collection needs of medium and large-scale businesses and ventures. Ozan Elektronik Para offers innovative solutions such as FijiPOS, FijiCash, and FijiPlace, QR payments, link payments, virtual and physical POS, payment gateway, and dealer collections. Ozan Elektronik Para operates in Turkey under Law No. 6493 and holds an ‘acquiring license’ as per Law No. 5464.

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