Paycell eyes expansion into Europe; opens office in Germany

By Gloria Methri

Paycell, Turkey’s digital payments platform is expanding its investments and collaborations in Europe. Opening its office in Germany, Paycell aims to provide end-to-end financial services to its European customers in a smart and timely manner.

For this, Paycell Europe has signed an agreement with embedded finance platform Solaris, at the opening of its Stuttgart office. As part of their collaboration, the two institutions will work to broaden the scope of digital finance solutions that they provide.

Speaking of Paycell’s European journey, Osman Yılmaz, Turkcell CFO said, “Paycell which is one of the subsidiaries of Turkcell is extending its operations in Europe to strengthen its position in the FinTech sector. We have entered the European market by opening our office in Stuttgart ‘de: hub’ which is one of the important digital innovation hubs of Germany.

“Our innovative and inclusive products and services will be accessible to all European users thanks to our unique digital infrastructure. It is apparent that the improvement of Paycell will contribute to the European market.”

Paycell offerings for Europe

Paycell Europe will initially provide money remittance and collection services with its international money transfer service ‘Super App’. The company will also provide financial solutions in the form of cards, loans, and digital wallets for European customers.

Referring to the cooperation with Solaris, Serhat Dolaz, Paycell CEO said, “As Paycell, we are happy to collaborate with one of Europe’s leaders in neo-banking and decided to move forward with Solaris. Along with being one of the best providers of financial solutions in the industry, Solaris will also share the knowledge through the various services it offers to renowned organizations with Paycell.”

Dr. Roland Folz, CEO of Solaris, added, “We are thrilled that Paycell chose to partner with Solaris for its European expansion. The powerful combination of FinTech and telco offers tremendous potential for embedded finance.”