Comparison · Updated October 25, 2026
iyzico vs PayTR (Turkey)
iyzico
B-
iyzico is a Turkish online payments company. Barbaros Özbuğutu and Tahsin Işın founded it; it was incorporated in Istanbul on 9 May 2013, and it has held a Turkish payment institution licence since 15 July 2016. Its legal name is iyzi Ödeme ve Elektronik Para Hizmetleri A.Ş., and the Central Bank of the Republic of Türkiye lists it as a licensed electronic money institution. PayU, then owned by Naspers, agreed to buy it in 2019 for a reported $165 million. The deal closed on 20 December 2019, and at the end of 2025 PayU Fintech Holdings B.V. owned all of it, with Prosus and Naspers as ultimate parents. iyzico signs Turkish businesses directly and gives them one integration for cards from every Turkish bank, including the bank instalment programmes Turkish shoppers expect. As of September 2026 its Virtual POS page lists 4.29% + TRY 0.25 per successful transaction for companies selling more than TRY 20,000 a month, with no setup or monthly fee; its help centre says that figure includes BSMV, the Turkish banking transaction tax. Payouts are weekly by default, paid in lira. The application asks for Turkish company documents, so it appears to be built for businesses registered in Turkey rather than for foreign companies selling into Turkey.
PayTR
B-
PayTR is a Turkish payment and e-money institution, licensed by the Central Bank of the Republic of Turkey (TCMB). It was founded in 2009 and has its head office in İzmir, with an office in Istanbul. Its main product is a virtual POS (sanal POS) for online shops. A merchant signs one contract with PayTR and can then take cards from all Turkish banks, including instalment sales on the major bank card programmes. PayTR also offers payment links, a marketplace split-payment product, subscriptions, physical and phone-based POS, bank-transfer tracking and carrier billing. Pricing is mostly quote-only. As of October 2026, the only rate PayTR publishes for its standard service is a headline rate starting at 2.19% for single-payment card sales paid out after seven days. Your actual rate and payout term are set in a personal offer, and a longer payout term buys a lower rate. There is no setup, monthly or annual fee. In June 2021 the Competition Authority cleared the acquisition of sole control of PayTR by a company controlled by private equity firm Actera; press reports put the stake at 60%. PayTR says it serves more than 200,000 merchants. Complaint-site ratings are weak: 49 out of 100 on Şikayetvar, the main Turkish complaints platform, as of October 2026. PayTR is for businesses selling in Turkey only.
VS
Overview
We compare the two for a business in Turkey taking card payments online in Turkish lira through a virtual POS (sanal POS), using each company's own pages, help centre and published terms as of 25 October 2026. Both are e-money institutions on the Turkish central bank's list. Both give you one contract for cards from every Turkish bank, with bank instalments, payment links, marketplace splits and subscriptions. They price differently. iyzico publishes a single-payment rate of 4.29% + TRY 0.25 for companies selling over TRY 20,000 a month, and says it includes BSMV, the tax on payment-institution commissions. Payouts are weekly by default. PayTR publishes only a starting rate, from 2.19% on single payments with a seven-day payout term, and sets your actual rate and payout term in a personal offer. It does not say whether that rate includes BSMV. Neither publishes its instalment surcharges or the price of next-day payout. iyzico is owned by PayU Fintech Holding B.V., part of Prosus. PayTR has been controlled by private equity firm Actera since 2021.
Key Takeaways
- ✓It depends on whether you value a published price or a lower starting point. iyzico publishes a full single-payment rate, 4.29% + TRY 0.25 including BSMV. PayTR's published figure is a floor, from 2.19% with a seven-day payout, and your real rate arrives in an offer.
- ✓Payout timing is a negotiated term at both. iyzico pays weekly by default, on the Wednesday after each Monday-to-Sunday sales week, and advertises a next-day option without a price. PayTR sets the payout term (valör) in your offer, offers next day to eligible businesses and gives a lower rate for a longer term.
- ✓Neither publishes instalment (taksit) costs. iyzico shows each bank's surcharge in its merchant panel; PayTR builds the banks' costs into your offer. Both pay instalment sales to you in one lump sum.
- ✓PayTR is open to more kinds of seller: companies, sole traders and individuals without a tax certificate, plus businesses in Northern Cyprus. iyzico takes individuals only for its payment-link product, at a higher rate from 4.49% + TRY 0.25.
- ✓On Şikayetvar, Turkey's main complaints site, iyzico scores 83/100 and PayTR 49/100 (25 October 2026). Both answered 100% of complaints in the past year.
iyzico
Choose iyzico if you are a Turkish company that wants to know the price before applying. It publishes 4.29% + TRY 0.25 per successful single payment, including BSMV, with no setup or monthly fee, publishes its general merchant terms, and has a consumer wallet with buyer protection that shoppers can pay through. Expect weekly payouts unless you agree a faster schedule, and get the price of next-day payout and your instalment surcharges in writing.
PayTR
Choose PayTR if you want to negotiate: its starting rate is lower, from 2.19% with a seven-day payout, there is no per-transaction fee or fixed monthly cost, and you can trade a longer payout term for a lower rate. It also accepts individuals without a tax certificate and businesses in Northern Cyprus. Its merchant contract is only shown inside your offer, so read the rate, payout term, instalment bands and the clauses on held funds before you accept.
The Verdict
It Depends on Your Needs
Why?
Neither is the better choice for every Turkish online seller. iyzico is easier to evaluate before you apply: it publishes a complete single-payment rate that includes BSMV, publishes its general merchant terms, and scores much better on Şikayetvar. The cost is a higher headline price, 4.29% + TRY 0.25, and weekly payouts by default. PayTR starts lower, from 2.19% with a seven-day payout and no per-transaction fee, lets you trade payout speed for price, and accepts a wider range of applicants, including individuals without a tax certificate. But its published figure is only a floor, its BSMV treatment is not stated, and its contract is shown only once you receive an offer. Get a written offer from both on the same payout term, including every instalment band, before you choose.
Feature by feature
Detailed Comparison
Filter Options
Single-payment card pricing (Turkey, TRY, sanal POS, October 2026)
| Feature | iyzico | PayTR |
|---|---|---|
| Published single-payment rate | 4.29% + TRY 0.25 | From 2.19% (7-day payout) |
| No winner, because PayTR's figure is a starting point, not a price. iyzico's Virtual POS page lists 4.29% + TRY 0.25 per successful transaction for monthly sales over TRY 20,000, and its FAQ frames it as an offer to company sellers; no rate is published for lower volumes. The same figure has been on the page since at least April 2025 (Wayback copies of April 2025, July 2025 and December 2025). PayTR's Virtual POS FAQ says rates start from 2.19% with a seven-day payout term (7 gün valör) and that your rate depends on sector, volume, average basket, card types and instalment use; your rate and payout term are stated in your offer. PayTR's homepage also runs a short-term 2.19% offer for new merchants. A separate PayTR campaign for first-time women entrepreneurs gives 0% on single payments with a seven-day payout, up to TRY 50,000 of volume or until 31 January 2027, for applications made by 31 October 2026. | ||
| Fixed fee per transaction | TRY 0.25 | None Winner |
| PayTR's FAQ lists no per-transaction fee (işlem başına ücret) among the charges it says it does not make. iyzico adds TRY 0.25 to every successful transaction, which matters most on small baskets. | ||
| Tax on the commission (BSMV / KDV) | BSMV included | Not disclosed |
| PayTR's support centre and homepage FAQ say that since 1 January 2025 payment and e-money institutions issue receipts (dekont) instead of invoices for BSMV-scope transactions, and that PayTR issues daily dekonts for its commission and service fees, so the tax on these commissions is BSMV (the banking and insurance transactions tax) rather than KDV (VAT). iyzico's help centre states the 4.29% + TRY 0.25 includes BSMV. PayTR's pages do not say whether its 2.19% starting rate includes it, so ask for the rate inclusive of BSMV in your offer. | ||
| Setup, monthly and annual fees | None | None |
| Both say there is no setup or fixed monthly fee on the virtual POS. PayTR adds that there is no integration, annual or inactivity fee. iyzico charges for optional add-ons: Multi Currency costs TRY 99 a year, and its Subscription product costs TRY 199 a month after the first three months. | ||
| Refunds | No fee | No fee; commission returned |
| iyzico's help centre says no fee is deducted for a refund, whenever it is made. PayTR's Virtual POS FAQ says the commission it collected is paid back to you after a refund and no extra fee applies. | ||
Published single-payment rate
iyzico
4.29% + TRY 0.25
PayTR
From 2.19% (7-day payout)
No winner, because PayTR's figure is a starting point, not a price. iyzico's Virtual POS page lists 4.29% + TRY 0.25 per successful transaction for monthly sales over TRY 20,000, and its FAQ frames it as an offer to company sellers; no rate is published for lower volumes. The same figure has been on the page since at least April 2025 (Wayback copies of April 2025, July 2025 and December 2025). PayTR's Virtual POS FAQ says rates start from 2.19% with a seven-day payout term (7 gün valör) and that your rate depends on sector, volume, average basket, card types and instalment use; your rate and payout term are stated in your offer. PayTR's homepage also runs a short-term 2.19% offer for new merchants. A separate PayTR campaign for first-time women entrepreneurs gives 0% on single payments with a seven-day payout, up to TRY 50,000 of volume or until 31 January 2027, for applications made by 31 October 2026.
Fixed fee per transaction
iyzico
TRY 0.25
PayTR
None
Winner
PayTR's FAQ lists no per-transaction fee (işlem başına ücret) among the charges it says it does not make. iyzico adds TRY 0.25 to every successful transaction, which matters most on small baskets.
Tax on the commission (BSMV / KDV)
iyzico
BSMV included
PayTR
Not disclosed
PayTR's support centre and homepage FAQ say that since 1 January 2025 payment and e-money institutions issue receipts (dekont) instead of invoices for BSMV-scope transactions, and that PayTR issues daily dekonts for its commission and service fees, so the tax on these commissions is BSMV (the banking and insurance transactions tax) rather than KDV (VAT). iyzico's help centre states the 4.29% + TRY 0.25 includes BSMV. PayTR's pages do not say whether its 2.19% starting rate includes it, so ask for the rate inclusive of BSMV in your offer.
Setup, monthly and annual fees
iyzico
None
PayTR
None
Both say there is no setup or fixed monthly fee on the virtual POS. PayTR adds that there is no integration, annual or inactivity fee. iyzico charges for optional add-ons: Multi Currency costs TRY 99 a year, and its Subscription product costs TRY 199 a month after the first three months.
Refunds
iyzico
No fee
PayTR
No fee; commission returned
iyzico's help centre says no fee is deducted for a refund, whenever it is made. PayTR's Virtual POS FAQ says the commission it collected is paid back to you after a refund and no extra fee applies.
Best For Your Business
Recommendations based on your business type
Turkish company that wants a known price before applying
Recommended
iyzico
iyzico publishes 4.29% + TRY 0.25 per successful single payment, including BSMV, for monthly sales over TRY 20,000, with no setup or monthly fee, and publishes its general merchant terms. PayTR's only published figure is a starting rate.
Established online shop willing to negotiate rate and payout term
Recommended
PayTR
PayTR's starting rate is lower (from 2.19% with a seven-day payout), it charges no per-transaction fee, and it offers a lower rate in exchange for a longer payout term. Ask for the rate inclusive of BSMV and every instalment band in writing.
Individual seller without a company or tax certificate
Recommended
PayTR
PayTR accepts individual applicants without a tax certificate, asking for ID, proof of residence and bank details. iyzico takes individuals only for payment links, from 4.49% + TRY 0.25.
Turkish marketplace splitting payments to sub-sellers
Both hold the buyer's payment until delivery, pay each sub-seller separately, charge sub-sellers no separate commission and let you set commission per seller. iyzico shows only its Virtual POS rate on its marketplace page and PayTR quotes by sector and turnover, so compare written offers.
Subscription or membership business
Both. iyzico publishes its subscription price, TRY 199 a month plus commission after three free months. PayTR charges no fixed fee but quotes the rate. Which costs less depends on your volume and the rate PayTR offers.
Foreign company without a Turkish entity
Neither. iyzico's application asks for Turkish company documents and pays out in lira. PayTR says it only accepts businesses established in Turkey or Northern Cyprus.
iyzico: Best for 1 use case
PayTR: Best for 2 use cases
Frequently Asked Questions
Common questions about this comparison
PayTR's published starting rate is lower, but it is not a like-for-like price. As of October 2026 iyzico publishes 4.29% + TRY 0.25 per successful single payment, including BSMV, for companies selling over TRY 20,000 a month. PayTR publishes rates starting from 2.19% with a seven-day payout term, with no per-transaction fee, and sets your actual rate in an offer; it does not say whether that includes BSMV. Compare written offers from both on the same payout term, with BSMV included and every instalment band listed.
PayTR says payment and e-money institutions have issued receipts (dekont) instead of invoices for BSMV-scope transactions since 1 January 2025, and it issues dekonts for its commissions, so the tax on these fees is BSMV rather than KDV. iyzico's help centre says its 4.29% + TRY 0.25 includes BSMV. PayTR's pages do not say whether its 2.19% starting rate includes it, so ask in your offer.
iyzico pays weekly by default: a Monday-to-Sunday week of sales is settled on Sunday night, held for two days and paid on the following Wednesday. It advertises a next-day option without a published price. PayTR pays according to the payout term (valör) in your offer; its starting rate assumes seven days, next-day payout is offered to eligible businesses, and a longer term earns a lower rate. PayTR makes no payouts at weekends or on public holidays.
Neither publishes instalment pricing. With iyzico, each bank adds its own surcharge on top of the single-payment rate, which you can pass to the shopper or absorb, and the merchant panel shows the figures. PayTR builds the banks' instalment costs into your offer. Both pay instalment sales to you in one lump sum.
With PayTR, yes: it accepts individual applicants without a tax certificate, as well as sole traders and companies. With iyzico, only for payment links, at rates from 4.49% + TRY 0.25; its virtual POS requires a tax-registered business.
iyzico is owned by PayU Fintech Holding B.V., part of Prosus, according to iyzico's corporate governance page. PayTR has been controlled since 2021 by Financial Technologies S.à r.l., a company controlled by the Turkish private equity firm Actera, after clearance by Turkey's Competition Authority. We found no announced sale of either as of October 2026.