Worldline partners with Turkish FinTech Lidio
By Leandra Monteiro
Worldline, a global leader in payments services, has announced a strategic partnership with Lidio Payment Services Inc, one of Turkey’s FinTech companies. The solution will help international e-commerce merchants’ businesses to enter Turkey’s burgeoning e-commerce market.
According to BKM, the Interbank Card Center in Turkey, e-commerce grew 37 to 40% per annum between 2017 and 2020. This accelerated in 2021 as the pandemic shifted consumer spending to the online world. Current figures show no signs of this trend slowing down.
However, the online payment landscape is driven by cards and dominated by local transactions, with a staggering 95% of card transactions made locally. Offering this form of payment increases access to local consumers significantly. Worldline, in conjunction with Lidio, seeks to do just that and its new solution supports international merchants and their consumers with:
- A one-stop-shop approach for processing in Turkey without the requirement of a local entity
- Access to the most popular payment methods, including Troy card scheme
- Increased payments performance through access to local acquiring
- Reduction in traditional high costs of cross-border payments
- Limited foreign exchange risks through the same-day exchange in your preferred currency
The solution, therefore, minimises the time and investment required to start processing and accepting payments from Turkey, while maximising conversion rates and driving payment performance – not forgetting seamless compliance with local regulations and legislation.
Guillaume Tournand, Head of Growth for Merchant Services at Worldline, added, “This new solution is part of our strategic approach to help global online businesses enter high growth markets. It follows solutions already launched for Brazil, China, India and South Korea. To support merchants in their efforts to enter and grow in these unique ecosystems, Worldline conducts extensive analysis to ensure that businesses comply with local governmental regulatory standards and tailor solutions to the preferences of the consumer to help drive cross-border growth.”
Emre Güzer, Co-Founder & CEO of Lidio, said, “We are very pleased to be working with Worldline to bring this solution to the market here in Turkey. As one of the most rapidly expanding marketplaces that uniquely crosses the divide between Asia and Europe, we seek to facilitate and participate in this growth. Our joint e-commerce proposition enables us to offer customers a seamless solution and ensure maximum satisfaction.”
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