(MENAFN- B2Press) As financial services become increasingly digitized, cash societies are giving way to digital payment systems. Domestic ventures catering to the financial needs of Turkish businesses and consumers with their digital wallets are expanding their services to global users by entering international markets. Most recently, the Izmir-based digital wallet marketplace Fely announced that it will commence its overseas operations with Azerbaijan.
The rapid proliferation of digital transformation has led to a shift in payment habits along with financial systems. As the cash era fades into the past, digital payment systems are becoming increasingly popular. Data released by The Business Research Company suggests that the digital wallet market, expected to close at $47.71 billion in 2024, will reach $97.54 billion within four years. Within this rapidly growing market, domestic ventures catering to the financial needs of Turkish users are expanding internationally to increase our share of the global market. Most recently, the Izmir-based digital wallet marketplace Fely announced that it will begin its overseas operations with Azerbaijan.
Serkan İçer, Co-founder of Fely, stated, "Fely has made significant progress in just 5 months and we have decided to start operations in Azerbaijan. We believe that with both our new features and our expansion into Azerbaijan, we will make top-level advancements towards eliminating cash and credit cards from many areas, creating a cashless society. We will generate revenue in foreign currency within a 5-month period. We have a good experience at festivals. We have formed a professional team for restaurants, cafes, and beaches. We have created a world where people can easily earn income and make payments within loyalty programs. With our system, business owners, organizers, and sponsors can easily manage loyalty and field management without complex management systems."
"Servicing 25,000 users in 5 months"
Serkan İçer, Co-founder of Fely, stated that since November, they have facilitated secure payments for more than 25,000 users at events and festivals without waiting in line. He concluded his remarks by saying, "The person responsible for our activities in Azerbaijan will be Tariyel Aghazada, who received a state award from Azerbaijani President Ilham Aliyev for innovation. Initially, we will start our operations with more than 50 restaurants and cafes. We know that we will achieve many successes by increasing this number in a short time."
"Business owners can create their own wallets, increase customer loyalty without paying an extra fee. For example, we can generate reports within minutes at every sales point at festivals. We make predictions for subsequent sales. At the end of the day, we enable them to make calculations with a single touch. In wallets specific to cafes, we create an advantage of easy balance loading for customers and cashless, contactless, and fast payments at the cashier with a QR code. Consumers can make payments at cafes, restaurants, beaches, and even stadiums from a single application. They can earn gift items and discounts with loyalty programs. In the future, we will continue to grow and improve to offer more advantages. Sabrican Zaim and Hasan Jabbarov, partners of the Fintech Factory Acceleration Program, joined our company as investors in the first investment round. With their exit and regional experience, we will expand Fely to different markets. We are making agreements for the Middle East and North Africa (MENA) region. We aim to serve hundreds of thousands of users by the end of 2024 by receiving the second round of investment this year."
Contact: Tülay Genç | [email protected] | +31 30 799 6022
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