The financial technology (fintech) industry has got a new player with the launch of Lidio, which seeks to provide a multi-channel and independent payment experience to millions of consumers, in addition to services for the local and global needs of businesses.

The foundation of the next-generation fintech initiative is correlated with Mobilexpress, one of Türkiye’s largest online payment platforms that was set up in 2011.

Lidio positions itself as Türkiye’s largest and most inclusive payment platform. It says it offers payment services to companies of all sizes, from small- and medium-sized enterprises (SMEs) to Fortune 500 companies, providing businesses with unlimited payment freedom from a single point.

The "World of Free Payments" with Lidio offers products and services such as "Lidio Core," which brings together all points of sale; "Lidio Pass," said to be Türkiye’s largest registered card pool; "Lidio Smart Switch," said to be Türkiye’s most advanced smart POS routing infrastructure; "Lidio Marketplace Solution," which offers end-to-end marketplace operation, and "Lidio Dealer Collection Service," which is the only solution for complex dealer collections.

Lidio also offers cross-border services as a single platform for all collection transactions, and says it "includes methods that reduce fraud activities by over 95% and prevent financial losses of businesses."

Emre Güzer, PayU co-founder and now Lidio co-founder and CEO, says that they started Lidio's journey with the slogan "Unlimited Freedom for Payments" in the rapidly transforming world of financial technologies.

"For more than 10 years, we have been developing payment services for Türkiye’s and the world’s leading companies under Mobilexpress. Last year, we alone mediated almost as much transaction volume as all licensed payment institutions. Over 160 million transactions and a volume of more than TL 35 billion took place on the Mobilexpress platform, which is the heart of Lidio today," Güzer said.

He noted that there are more than 54 million credit cards registered on their platform.

"We have managed to tokenize almost all credit cards used on the internet. In addition, with the launch of Lidio, 1.8 million individual users under the Lidio Pass roof will start to experience smooth Lidio processes in Türkiye’s largest enterprises. We will continue to make the Lidio Pass logo visible in the most preferred businesses."

Lidio will offer a multi-channel and free payment experience not only for the local and global needs of businesses, but also for millions of consumers, Güzer said.

"Beyond being a financial technologies initiative, Lidio is an ideal that adopts the ‘free payment’ approach in our country and in the world. Because Lidio will eliminate the boundaries in the payment experience and allow all businesses and consumers to choose from different technologies and hardware. Our goal is to realize the transactions of the world’s largest businesses in Türkiye with the global and digital bridges we will establish," he added.

By 2023, Lidio has a revenue generation target of TL 250 million, said Güzer.

"We will multiply our revenues every year. We also want to expand Türkye’s most experienced team in financial technologies and payment systems with brand new talents."