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With globalization, significant changes have occurred in our habits and ways of doing business. We used to do our shopping physically by going to stores. We wanted to employ staff in service recruitment and work from the office. Today, thanks to the Internet, we can shop at marketplaces abroad. Instead of employing staff, we are able to give jobs to people we meet online and buy services using the “freelancer” model. While we even have the possibility to shop at a grocery store in our neighborhood, we prefer to order home via the app instead. In parallel with these changes in shopping methods and consumer preferences, new products and services have emerged in accordance with these changes in payment and collection methods. While more cards and POS products are used in the purchase of goods, international money transfer solutions come to the fore in the purchase of services.
Labor migration from underdeveloped countries to developed or developing countries manifests itself as another consequence of globalization. People living in underdeveloped countries prefer to leave their homes and move to other countries and work abroad in order to have a better life for themselves and their families. It turns out to be their basic need to send the money they earn by working under difficult circumstances to their families, where they leave behind, or keep it in an account.
Classical methods of international payment or money transfer seem to be far from meeting today's needs due to their slow pace and high cost. Especially in the case of money transfers carried out through banks, both the high prices imposed by the banks subject to the transfer and the unforeseen high fees paid to intermediary correspondent banks constitute a very important cost item for consumers. The general expectation and need in the globalized world is instant and low-cost payments and transfers. Start-up fintechs, seeing this need, have started to become important players in the market by developing products and services for this purpose. Some of them have even managed to become more valuable than banks in terms of market capitalization with their fast performance. Behind this success is not only to provide affordable and instant payment/transfer products at the service of customers, but also to expand their customer base by accepting customers on a global scale.
Due to its geopolitical position, Turkey is an important trading partner with the CIS region, the Middle East, Europe and Africa region countries. In addition, there are many immigrants who have come to Turkey to work from these regions. Accordingly, it has a significant volume of mutual money transfers with these countries. However, when we look at the application, we see that there is no application in which these transfers and payments are still carried out from more physical points, allowing foreign nationals to open accounts on their behalf and carry out their transactions in digital environment.
UPT ÖmetmeHizmetleri ve Elektronik Para A.Ş. has developed the mobile application named “UPTION” in order to address this need in the market, using the advantage provided by the existing experience and unique infrastructure, as well as its network covering 176 countries worldwide. With this application, which provides remote customer acquisition, you can easily become a customer from anywhere 24/7, whether you are a Turkish citizen or a foreign national. Thanks to the possibility of using it in Turkish, English and Russian languages, foreign nationals are also offered the opportunity to use the application in an easy way.
Using the UPTION mobile app, you can instantly send money to 176 countries around the world to your name, account or credit card 24/7. Moreover, at very competitive prices. Even to some countries for free as part of the campaign. Using the UPTION QR feature, you will soon be able to make contactless withdrawals from ATMs located in Turkey or make purchases with UPTION QR from businesses in Turkey. You can follow the developments on the UPTION website and UPTION social media platforms.
