Turkish authorities approve Worldline's international payment service in collaboration with Lidio.

Global payments leader Worldline [Euronext: WLN] today announced that the Central Bank of Turkey (TCMB) has authorized Worldline's collaboration with top Turkish fintech company Lidio Payment Services Inc (Lidio) (TCMB announcement) to receive payments from Türkiye for international online businesses.

Madilyn Swift

March 28, 2024

1Min Read

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Payments

Worldline and Lidio's strategic alliance will give international online companies a competitive edge in Turkey's growing e-commerce market.

Turkish e-commerce sales are expected to reach $72 billion in 2023, up 103% from the previous year, according to official government statistics. The business is expanding quickly. Three international enterprise clients have been successfully onboarded by Worldline and Lidio, resulting in a notable increase in payment performance. A Big Tech client is presently being onboarded by Worldline and Lidio, who are stressing the solution's strong features and regulatory compliance.

The combined Worldline and Lidio solution optimizes time, expenses, and payment performance (up to a 25% increase in approval rate over a customer's prior connection) while guaranteeing local regulations are followed. It also streamlines the process of taking Turkish payments. The use of Troy cards by foreign companies is part of this answer, which is essential given that the present 19 million card circulation is anticipated to rise significantly.

The official recognition and authorization from Türkiye's Central Bank is greatly appreciated, said Roman Tazetdinov, Head of Geo Expansion at Worldline Merchant Services.We are now in a great position to guarantee that the greatest number of foreign digital merchants have access to this incredibly interesting market and are best positioned to assure a successful implementation of their goals here, working with our strategic partner Lidio.

"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," stated Emre Güzer, co-founder and CEO of Lidio. The Central Bank of Turkey's support for our strategic partnership with Worldline in e-commerce allows us to provide clients with a smooth experience and guarantee their highest level of pleasure.