Bakiyem

Bakiyem is an Ankara-based financial technology company established in 2017 by Founder and CEO Umut Yalcin. The company provides online payment solutions, addressing the complicated and tiresome nature of payment software that the founders initially experienced while developing sector-specific solutions. This firsthand experience led them to pivot into the payment solutions sector, aiming to simplify processes for businesses of all sizes.

The company's business model is centered on offering a suite of payment services and collecting commissions on transactions. Bakiyem provides its services free of initial setup fees, generating revenue through commission rates that vary by company and industry. Serving over 3,500 customers across various sectors, the firm facilitates payment acceptance from all debit and credit cards through its virtual POS service. This service can be integrated into a client's website without requiring advanced technical knowledge.

Bakiyem's product portfolio is designed to cater to a diverse client base. "Bakiyem POS" is the core virtual POS service. "Saha Bakiyem" offers a B2B collection system that integrates with accounting and CRM programs to streamline field collections. For businesses without a website, such as those leveraging social media sales, "Pazar Bakiyem" provides a way to receive payments. Another product, "Banka Bakiyem," allows users to view balances and account activities across all their banks in one place. The platform supports various payment methods including payment by link, QR code, and mobile POS, turning a smartphone into a payment device. Features like card storage for recurring payments and the ability to accept international payments in different currencies are also available.

The company has demonstrated significant growth, reporting an 11-fold increase in transaction volume in the first eight months of 2022 and surpassing a total transaction volume of 1 Billion TL by March 2023. Strategic partnerships have been a key part of its expansion, including a collaboration with MOKA, a prominent payment institution in Turkey, to offer joint solutions. Bakiyem has also secured multiple investment rounds, including one in September 2020 and another in March 2021 that valued the company at 17 million TL.

Keywords: payment solutions, fintech, virtual POS, online payments, B2B collections, payment gateway, e-commerce payments, mobile payments, recurring billing, payment processing, financial technology, Umut Yalcin, Turkey, Ankara, SME payment solutions, online transaction, credit card processing, digital payments, payment link, QR code payment