French payments services provider Worldline has forged a strategic alliance with Turkish fintech firm Lidio Payment Services to provide global merchants with streamlined access to the country’s e-commerce industry.
This tie-up will offer a one-stop-shop for processing transactions in Turkey without the help of a local entity.
The solution will allow merchants and consumers to use various payment methods, such as Turkey’s Troy card scheme.
The users will also be able to avail local acquiring services for improved payments capabilities.
In addition, the solution is expected to bring down the costs of international transactions as well as enable same-day exchange in the client’s preferred choice of currency.
Complying with local regulations, it will also offer various benefits including reducing the time and investment needed for processing and accepting payments from Turkey, among others.
Turkey’s e-commerce sector expanded 37% to 40% annually from 2017 to 2020, according to the country’s Interbank Card Center, BKM.
Worldline head of growth for merchant services Guillaume Tournand said: “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.”
The latest collaboration comes shortly after online game distribution platform Voidu tapped Worldline for payments services.