Mastercard's digital payment solution Masterpass to transition to Masterpass Technology Services Inc.
Mastercard, a global leader in payment technologies, continues strengthening its presence in Türkiye, its strategic hub for Eastern Europe operations. The company is pleased to announce that Masterpass, the innovative digital payment solution developed by Turkish engineers, will now operate under the newly established Masterpass Technology Services Inc.
This transition marks a significant milestone in Mastercard's ongoing commitment to Türkiye. The reorganization reflects Masterpass's growth trajectory and its pivotal role in the region's payment technology landscape. Masterpass Technology Services Inc. will spearhead the development and expansion of this cutting-edge solution, underscoring Mastercard's dedication to long-term investments in the country.
As Mastercard continues to invest in Türkiye, the establishment of Masterpass Technology Services Inc. represents a major step forward in advancing digital payment solutions and reinforcing Türkiye's position as a key player in the global payment ecosystem.
'Our investments in the Turkish market demonstrate our belief in and commitment to its growth potential'
Mastercard Türkiye and Azerbaijan General Manager Avşar Gürdal stated, “At Mastercard, we are dedicated to delivering innovative payment solutions that enhance our users’ daily lives and maintaining our leadership in e-commerce payments. Our investments in Türkiye, recognized as a hub of innovation for Mastercard, reflect our confidence in the country’s growth potential and our commitment to our stakeholders. Today, Masterpass, which handles one-third of all e-commerce transactions in Türkiye, is widely adopted due to its secure, fast, and seamless payment experience. We are committed to continuing to provide our 40 million Masterpass users with cutting-edge products designed to make their lives even easier.”
The driving force of digital commerce in Turkey: Masterpass
Mastercard EEMEA Masterpass Product Leader and Board Member of Masterpass Technology Services Inc., Mithat Perköz, commented, “Türkiye stands as the largest e-commerce market within Mastercard’s Eastern Europe, Middle East, and Africa region. With the formation of our new company, Masterpass is set to expand more rapidly than ever and introduce new features. Our focus will be on strengthening Masterpass's position in Türkiye while also continuing to extend our technology to other countries in the region, supporting Türkiye's vision of becoming a global financial center. Following its successful launch in Azerbaijan, Masterpass will soon debut in Kazakhstan. Our goal is to extend our reach across the entire region in the near future.”
One in every three payments is made via Masterpass
By 2024, Masterpass has achieved 40 million registered unique users, 75 million registered cards, and more than 4,000 merchants. Notably, one out of every three e-commerce payments is processed through Masterpass. The platform, developed by Turkish engineers, has gained significant traction across the region and stands out for its impressive sector performance.
Masterpass, a Mastercard innovation, offers secure, fast, and convenient digital payment solutions. Its card storage technology ensures secure and swift transactions while allowing users to consolidate their card information in one place.
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