ISTANBUL, Jan. 4, 2022 /PRNewswire/ -- Hepsipay, the digital open wallet of leading Turkish e-commerce platform Hepsiburada (NASDAQ: HEPS) today announced an agreement with the Istanbul Metropolitan Municipality's Belbim/Istanbulkart, which will enable approximately 20 million active Istanbulkart users to shop easily on the Hepsiburada platform without the need for any other bank or credit card.
Belbim's Istanbulkart is a contactless pre-paid card for public transportation payment and customers who hold one will now be able to use their account balance to purchase goods on Hepsiburada. This service will operate through the Hepsipay Wallet, which offers customers the opportunity to meet all their needs with innovative payment solutions and services such as multi-credit card payment, online shopping credit, charge to billing and secure payment.
This agreement will help to bring the e-commerce experience to a broader audience in Turkey, in line with Hepsiburada's vision of leading digitalization of commerce. By enabling alternative payment options, Hepsiburada keeps enhancing the customer experience and opens up its platform to customers without access to traditional banking services.
Hepsiburada's collaboration with Istanbul Metropolitan Municipality is expected to be operational in first quarter of 2022.
Ozan Bayülgen, General Manager, Hepsipay said: "This collaboration with the Istanbul Metropolitan Municipality's Belbim/Istanbulkart is the latest step as we continue to lead the way in exploring innovative payment methods through our embedded digital wallet, Hepsipay, so that as many customers as possible are able to seamlessly access Hepsiburada's products and services.
This collaboration will further manifest Hepsipay value proposition as a companion wallet offering fast and rewarding experiences to its users including the under and un-banked customer segments in Turkey, growing Hepsiburada's total addressable market."
Remarking on the upcoming cooperation, Belbim Inc.'s General Manager Nihat Narin said:: "As the founder of Turkey's largest electronic payment collection system, we are pushing Istanbulkart into the future with our financial technology. We continue to extend Istanbulkart's reach and provide practical payment alternatives through our business partnerships. We are creating an infrastructure for our 20 million users who pivoted to online shopping during the pandemic. Through this initiative, our users can use NFC with their e-commerce payment wallet, Hepsipay. At Belbim Inc., we will continue our efforts to provide Istanbulites with the best services possible."
Hepsiburada is a leading e-commerce technology platform in Turkey, combining a globally proven e-commerce business model with a one-stop 'Super App' to cater to our customers' everyday needs and to help make people's daily lives better. Customers can access a broad range of products and services including same-day delivery of groceries and essentials, products from international merchants, airline tickets and payment services through Hepsiburada's embedded digital wallet, HepsiPay. As at the end of September 2021, we had seamlessly connected 39.6 million members and approximately 67 thousand Active Merchants.
Founded in Istanbul in 2000, Hepsiburada was built to lead the digitalization of commerce in Turkey. As a female-founded organization, Hepsiburada is committed to meaningful action to empower women. Through its 'Technology Empowerment for Women Entrepreneurs' program, Hepsiburada reached over 24,000 female entrepreneurs across Turkey to date.
BELBIM Inc., the founder of the first electronic fare collection system used in Istanbul public transportation, is offering a fast and easy payment option with "Istanbulkart" it has developed completely within its body. Istanbulkart, with the vision of the 'City Life Card' founded in 2019, located beyond being a transportation card only, is transformed into an electronic money card which can also be used in areas other than transportation and has become a payment option at many points of the city with the collaborations established.
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