Param, Turkey’s Largest and Most Valuable Fintech Enterprise, agreed to acquire Paycore, the Flagship of Payment Systems, and its subsidiaries and to initiate legal processes, including the approval process for share transfers, before the relevant authority.
Paycore, which provides technology infrastructure and financial software solutions to more than 250 banks, financial institutions, telecom operators and international companies with more than 400 employees, is a financial technology company that exports technology to more than 30 countries.
PayCore, which forms the basis of the payment system infrastructures of e-money institutions and payment institutions as well as the largest banks of our country, successfully completes more than 3 billion payment transactions annually with its Ocean product.
Paycore, the global service provider of major card schemes in the management of critical payment processes with 22 years of experience, provides services in America, Dubai and England, as well as in its development and operation centers in Istanbul.
Param, a pioneer in the development of the payment world, accelerated its product and technology ownership, which are the basic building blocks of its aggressive growth strategy, with the acquisition of Paycore. Param states that he will share more important developments that will create excitement for Turkey’s fintech transformation before the end of 2023. Param, which has attracted the attention of international investors with its strong financial structure and high success momentum achieved with its foreign partners, will support and strengthen PayCore for its growth target in the global market.
Param is eagerly waiting for the approval processes of legal authorities to add 450 new colleagues to its more than 1000 colleagues with the Paycore acquisition. Paycore customers and Paycore employees will soon discover the innovations of the Param world, which offers more than just money.
We believe that this development will add new values to our sector and economy.
Param, Turkey’s largest and most valuable fintech, has initiated the legal processes, including the approval procedures at the relevant authorities for the transfer of shares and acquisition of Paycore, the Flagship Global Fintech and Payments Services company, and its subsidiaries.
With a workforce over 400, PayCore provides technology infrastructure and financial software solutions to more than 250 banks, financial institutions, telecom operators and international companies. As a financial technology company, Paycore exports its products and services to over 30 countries. With its core product Ocean, Paycore successfully processes 3 billion transactions annually.
With its 22 years of experience, Paycore is a major global service provider for the leading card schemes and manages critical payment processes. In addition to its operation and development centers in Istanbul, Paycore also provides services in the United States, United Kingdom and Dubai.
As the pioneer of the payment industry, Param’s aggressive growth strategy centers around developing its own technology and products and the acquisition of Paycore further strengthens this strategy.
With its strong and resilient financials and international investors, Param has acquired a tremendous success momentum and continues to attract the attention of international investors. Param will assist and strengthen Paycore in achieving its global expansion objectives.
Param emphasizes that it will disclose significant developments that will generate excitement for Turkey’s fintech transition before the end of 2023.
Param eagerly awaits the approval processes from the legal authorities to add 450 new colleagues through the acquisition of Paycore, in addition to its existing workforce of over 1000. Paycore’s customers and employees will soon discover the innovations of Param’s world that offer more than just money.
Param believes that this acquisition will bring additional value to the payments industry and the overall economy.