Transfast Expands into Turkey

-- Partnership with UPT Enables Instant Cash and Same Business Day Deposits --

Dubai, United Arab Emirates-Sunday 10 April 2016 [ AETOS Wire ]

Transfast, a leading global funds transfer and payments company, today announced its expansion into Turkey through a partnership that enables Transfast customers to send funds from agent locations into any bank account in Turkey within 24 hours, or for instant cash pick-up at 6,800 locations, including the Turkish Post Office.

Transfast made the announcement as it inked a new partnership with Universal Payment Transfer (UPT), a wholly owned subsidiary of Aktif Bank and Turkey's first international money transfer company, enabling the expanded services.

This partnership enables Transfast to expand its network in Turkey through the wide network of UPT. Cash pick-up is available instantly in three currencies – U.S. dollars, Euro and Turkish Lira (TRY) -- at more than 6.800 payment points. Transfast customers also will be able to send to any bank account in Turkey, in Turkish Lira (TRY) within the same business day. Recipients are notified via SMS when funds are available.

Samish Kumar, CEO of Transfast, says, “We are pleased to announce our partnership with UPT. We are encouraged by the potential of Turkey and believe that launching these new services for sending funds there will bring economic benefits to the country.”

UPT’s CEO, Mr. Erol Ulu, says, "As a leading money transfer and payment service provider in Turkey, and the first payment institution that is officially licenced by BRSA (Banking Regulation and Supervision Agency) following the enactment of payment services law in Turkey, we are very pleased to partner with Transfast to further enhance our services and value for customers that need to send money to Turkey. Our goal is to maximize the international service network through strong partners in all regions where there is a substantial demand for money transfers towards and from Turkey. This partnership with Transfast will add great value and convenience for both senders and receivers in Turkey.”

About UPT

Established in 2010, UPT is the first Turkish money transfer brand in Turkey known as Universal Payment Transfer (UPT). As of September 2014, UPT Ödeme Hizmetleri A.Ş. (UPT Payment Services Inc.) has been established as a 100% subsidiary of Aktif Yatirim Bankasi A.Ş. and became the first financial institution that obtained its Payment Service Provider license from Turkish Banking Regulation and Supervision Agency (BRSA) as of 9 July 2015.

With over 5,000 cash pay-out locations through its own UPT branches and agent network including the Turkish Post Office (PTT), UPT has a wide network for cash pay-out in Turkey. Through its international network, UPT has a global reach to over 200 countries with over 400,000 cash pay-out locations sending funds to domestic and international bank accounts. UPT offers a new generation of money transfer system which allows customers to send and receive money domestically to a name, bank account or card, and globally to an account or contracted UPT Service Point instantly in TL, USD or EUR.

About Transfast

Transfast is a leading omni-channel provider of multi-currency cross-border funds transfer and payments solutions to consumers and businesses around the world. The company operates a best-in-class proprietary network across over 120 countries in the Americas, Asia, Europe, Australia and Africa with multi-product capability, including a leading, one-of-a-kind instant bank transfer offering. For more information visit https://www.   


Watermelon PR

Aisha Shaikh, +9714-2833-655

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Samir Vidhate Director TRANSFAST EMEAA, Samish Kumar CEO TRANSFAST, Erol Ulu CEO UPT, Basak Yapici Marketing Director UPT (Photo: Left to right- ME NewsWire)

Samir Vidhate Director TRANSFAST EMEAA, Samish Kumar CEO TRANSFAST, Erol Ulu CEO UPT, Basak Yapici Marketing Director UPT (Photo: Left to right- ME NewsWire)

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