/regulation & compliance

News and resources on regulation, compliance, legal and governance issues for banks and fintechs.

Worldline gets Turkish green light for international payments in partnership with Lidio

Source: Worldline

Worldline [Euronext: WLN], a global leader in payments services, today announces that Türkiye’s Central Bank (TCMB) has approved Worldline’s partnership with leading Turkish fintech company Lidio Payment Services Inc (Lidio) (TCMB announcement) to accept payments for global online businesses from Türkiye.

The strategic partnership between Worldline and Lidio will help global online businesses to gain competitive advantage in Turkish expanding e-commerce.

Türkiye’s e-commerce market is growing rapidly, reaching $72 billion in sales in 2023 with a growth rate of 103% compared to the year before according to official Government statistics. Worldline and Lidio have successfully onboarded three global enterprise customers delivering impressive payment performance improvement. Worldline and Lidio are currently onboarding a Big Tech customer onto the solution highlighting its robust capabilities and compliance with various regulations.

The joint Worldline and Lidio solution streamlines the process of accepting Turkish payments, optimizing time, costs, and payment performance (of up to 25% in approval rate increase compared to a customer’s previous connection) while ensuring compliance with local regulations. This solution includes the acceptance of Troy cards for international businesses, this is crucial as the current volume of 19 million is expected to increase massively.

Roman Tazetdinov, Head of Geo Expansion at Worldline Merchant Services, commented: “We are delighted to have received this official recognition and authorisation from Türkiye’s Central Bank. Together with our strategic partner Lidio we are now ideally placed to ensure that the widest possible array of international digital merchants have access to this hugely exciting market and are best placed to secure a successful implementation of their ambitions here.”

Emre Güzer, Co-Founder & CEO of Lidio, said: “As one of the most exciting and rapidly expanding markets that uniquely crosses the divide between Asia and Europe, we will be working closely with Worldline to seek to facilitate and participate in this growth. This endorsement from Türkiye’s Central Bank enables our strategic, joint e-commerce proposition with Worldline to offer customers a seamless solution and ensure maximum satisfaction.” 

Comments: (0)