Digest 5 | October 2023

What companies are telling us

• Colendi, one of the largest fintech companies in Turkey, has established an R&D center with the support of the Turkish Ministry of Industry and Technology.
• The Central Bank of Turkey is covering the payment of foreign online services with local, non-branded cards. For example, Oldubil announced that from October, payment will only be available on Turkish sites with a "trust seal". Here’s the list of them.
• MetLife is partnering with Papara as part of its strategy to increase its presence in digital channels. As part of the partnership agreement, MetLife offers the Accident Insurance product exclusively to Papara users.
• N Kolay Digital Bank (Aktif Bank) joins forces with Trendyol. Exclusively for the Trendyol mobile app, N Kolay users can get installment loans from 500 to 50,000 TL with a repayment period of up to 36 months.?
• International money transfers, which previously could only be made to bank accounts or cards, can now also be made to wallet accounts thanks to United Payment's infrastructure.
• Samsung Electronics Turkey has unveiled a new mobile wallet app – S Wallet – which offers payment via smart watch and smartphone. The project was launched in cooperation with Visa Turkey, Pazarama, and Moka.

New product launches and startups

Papara, which is about to become a super-app, has announced an in-app chat feature. A Papara customer will be able to chat with other users registered in his phonebook.

Local fintech Turan launches a money transfer service from Turkey to Georgia. The company says it allows money to be transferred from Turkey to all banks in Georgia, 100% digitally and without any fees. The service aims to become the largest app for the Turkic states. Earlier, the company launched transfers to Azerbaijan.

Kozmos, an online apartment and property management platform developed by a subsidiary of Albaraka Türk, has expanded the scope of its partnership with GABORAS, a leader in PropTech, creating Turkey's first comprehensive real estate trading platform.

Digital payment platform Paycell has included services for trading shares of companies traded on the Istanbul Stock Exchange in its portfolio of investment products.

Akbank has launched the Dijital Slip app. Bank customers will now be able to use digital receipts instead of paper receipts for all transactions they make from physical POS devices using their Akbank cards.

Comment by red_mad_robot Market Research Center: the company continues focusing on developing digital customer experience, pushing the boundaries of digital banking, and offering more convenience and flexibility with this new feature. It is also focusing on the ESG agenda, preventing the use of unnecessary paper (contributing sustainable value to the environment).

red_mad_robot is a digital partner for major businesses in the fields of fintech, telecom, retail, insurance, e-commerce, medicine, and industry. The expertise of red_mad_robot covers the entire cycle of creating digital products: from conducting market research and consulting to direct development and launch on the market. The company creates marketplaces, ecosystems, mobile applications, and web portals for millions of people, as well as supports technological startups.

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