If you are thinking of starting an e-commerce business in Turkey or just running a business there, it is important to know about the payment gateways that support financial transactions in the country. In Turkey, you have a wide range of options, some of which make it easy for you to deal with if you are a foreigner, and some of which are a bit more difficult. Let me introduce you to the top 10 payment gateways in Turkey with their pros and cons, the possibility of opening accounts for foreigners and the required documents.
1. Iyzico:
Iyzico is one of the most popular payment gateways in Turkey and provides integrated and easy payment services for merchants. What distinguishes it is that it works with all types of companies, whether small or large. It allows foreign residents to open accounts after submitting the required documents such as residence card and company data.
Iyzico is easy to integrate with e-commerce platforms like WooCommerce and OpenCart, which means you can start receiving payments quickly after you register your account. You can benefit from advanced security systems that ensure the safety of all your financial transactions.
Required documents: Residence card, tax number, proof of address, and company certificate. In addition, you must provide bank details to confirm IBAN, a risk report from Findeks, and a copy of the shareholder’s ID.
2. PayTR:
PayTR is a payment gateway that allows foreigners residing in Turkey to open accounts easily and quickly. All you have to do is provide your residence card and the company’s legal documents. PayTR supports multiple payment methods such as credit cards and e-wallets, and provides strong protection against fraud.
PayTR’s advantage is its ease of integration with e-commerce platforms, as well as its ability to process payments quickly. It is very suitable for small and medium-sized businesses looking for reliable payment solutions.
3. Param:
Param is a payment gateway known for providing integrated and easy solutions to merchants. It allows foreigners to open accounts after submitting the required documents such as residence card and company details. Param supports multiple payment methods and focuses on providing a fast and secure payment experience.
It is considered one of the best options for merchants who care about the speed of receiving payments and the flexibility to deal with more than one currency.
4. Hepsipay:
Hepsipay is a payment gateway linked to the popular Hepsiburada platform. It is an ideal choice for merchants who sell their products online. It provides you with flexible and easy payment solutions and allows foreign residents to open accounts using their residence card and company details.
One of its biggest features is the quick integration with the Hepsiburada platform, which opens up the possibility for you to market to a larger audience in Türkiye.
5. Impatient:
Papara is a digital payment gateway that provides flexible and easy services for individuals and businesses. It allows foreign residents to open accounts using their residence card and proof of address. Papara supports fast money transfers and allows you to manage your payments with ease through its unique application.
It is a good option if you want digital payment solutions without complications.
6. Breasts:
Payu is a global payment gateway, supporting multiple payment methods and providing integrated solutions for merchants in Turkey. If you are a foreigner residing in Turkey, you can open an account after submitting your residence card and the required documents to the company.
Payu offers advanced fraud protection and easily integrates with global e-commerce platforms, making it an ideal choice for merchants dealing with customers outside of Turkey.
7. Cream:
İpara is a unique payment gateway that supports foreigners residing in Turkey to open accounts after submitting their residence card and other legal documents. It supports various payment methods and provides flexible and easy-to-use solutions, and is an excellent choice for merchants looking for an easy and fast payment system.
8. Sipay:
Sipay offers flexible payment solutions and supports transactions in multiple currencies, making it an ideal choice for companies dealing with international clients. Sipay allows foreigners residing in Turkey to open accounts after submitting a residence card and the required documents.
Suitable for merchants looking for flexible and fast payment solutions.
9. Turkish Electronic Money:
Turk Elektronik Para is a Turkish payment gateway that supports local and international payments. It allows foreign residents to easily open business accounts using their residence card and company details. It provides an advanced protection system to ensure the safety of financial transactions.
10. FastPay:
FastPay is a payment gateway that offers quick and easy solutions for individuals and businesses. It allows foreign residents to open accounts upon presentation of their residence card and proof of address. FastPay is an excellent choice if you are looking for flexible and fast payment solutions with easy payment management.
Documents required to open a company account:
- Id
- Tax number.
- Proof of address (utility bill).
- Company registration certificate.
- Additional documents:
- Signature of the partner or manager before a notary public.
- Tax board.
- Findeks Risk Report.
- Documents from the bank to prove the company account details and IBAN.
Finally, choosing the ideal payment gateway depends largely on the type of your business and the needs it requires. Whether you are a small merchant or a large company, the payment gateways we mentioned provide distinctive solutions that guarantee you security and flexibility in financial transactions.
Foreigners residing in Turkey have excellent options that allow them to open accounts with ease after submitting the required documents, whether it is a residence card or official company papers.
Portals like Iyzico, PayTR and Papara provide you with integrated services and help you expand your business, whether you are targeting the Turkish market or even global markets. Ultimately, the most important thing is that you choose a portal that supports your needs in a way that suits the nature of your business and helps you grow your projects with confidence and security.
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