Turkey’s domestic digital wallet PeP has partnered with Visa to offer secure and innovative financial solutions for cross-border payments providing competitive currency exchange rates and free ATM cash withdrawals abroad. All services will be available to individual and business customers. PeP accounts will be able to send and receive money to/from UK and EU bank accounts instantly.
PeP has partnered with Visa to provide PeP Visa cardholders competitive exchange rates for online and face-to-face purchases. PeP cardholders will also benefit from using ATMs abroad without commissions.
Speaking at the PeP launch media event, Paladyum Electronic Money and Payment Services, PeP, Artun Kumrulu said:“Our Visa prepaid cards aim at providing advantageous exchange rates for both commercial and individual crossborder spend. We target individuals travelling for business or leisure, international students, individuals and companies making or receiving payments from abroad. With our virtual IBAN and money transfer services, our customers will for example, enjoy cost-efficient and fast transfers. Kumrulu also noted that PeP has issued 500k prepaid cards in Turkey to individuals and business clients in 2019 and said that they would continue to bring innovative products to address the needs of these segments in collaboration with Visa.
Visa operates a network of trust and enables international payments
Visa’s Turkey General Manager Merve Tezel said: “Fintechs all around the world offer new products and services that responds to consumers’ niche expectations and make their lives easier. PEP’s creative and consumer-friendly value proposition responds to the consumers’ expectation of receiving a digital, transparent and simple crossborder payments experience Thanks to our cooperation with PeP, we enable PeP cardholders to realise convenient and cost-effective crossborder payments through our global network connecting billions of cardholders in 200 countries to 54M merchant locations and 2.7M ATMs. We are pleased to be part of this solution that corresponds to our vision of integrating advanced technology into everyday life and offering a seamless payments experience to consumers. ”
Card PIN renewed after each transaction time for greater securityPeP offers card payments, money transfers, utility payments and card processing. It also provides invisible payments over 1500+ petrol stations and discounts in fuel purchases in Turkey. PeP cards also offer a new and secure customer experience providing a one-time Card PIN and virtual card for every online transaction, eliminating the risks that may arise from unauthorized access to the card number or PIN. Furthermore, PeP also offers “money request” features to facilitate C2C commerce.