iyzico

iyzico is an Istanbul payments company founded in 2013 by Barbaros Özbugutu and Tahsin Isın. PayU, the payments arm of Naspers and Prosus, bought a majority stake in 2019 for a reported $165 million, and PayU's own Turkish payment institution has since been merged into iyzico's licensed company. In February 2025 iyzico closed its $87 million purchase of Paynet, adding business-to-business collections. The operating entity, İyzi Ödeme ve Elektronik Para Hizmetleri A.Ş., is on the Central Bank of the Republic of Türkiye's list of authorised electronic money institutions.

The core product is a virtual POS. Merchants connect through an API or a hosted checkout form and take Visa and Mastercard with 3-D Secure, plus bank instalments on seven Turkish credit card programmes, among them Bonus, World, Maximum and Axess. Pay with iyzico sits on top as a consumer wallet: shoppers can pay from an iyzico balance, a saved card, a protected bank transfer through partner banks, or a shopping loan of up to 36 months from iyzico's contracted banks. Payment links, subscriptions, marketplace payments, mass payouts and card terminals are also offered, with plug-ins for WooCommerce, Magento, OpenCart, PrestaShop, Shopify and Turkish platforms such as IdeaSoft and Ticimax.

Pricing is public. Companies pay 4.29% plus 0.25 TL per successful transaction under the current offer, with no setup or monthly fee, while individuals selling through payment links start at 4.49%. A Multi Currency add-on costs 99 TL a year and lets merchants charge in dollars, euros, sterling, Swiss francs, Norwegian kroner and roubles, converted back to lira. Payouts run weekly, and newer sellers may see funds held for longer.

iyzico fits businesses selling to Turkish consumers, where instalments and local bank options carry real weight at checkout. Sign-up asks for a signature circular, tax certificate, partners' IDs and proof of IBAN, so it is built for companies with a Turkish entity rather than overseas sellers.