Iyzi Payments has raised $1.4 million from a group of undisclosed angel investors, and it will use the funds to build a new payments platform in Turkey.
Called Iyzico, the platform allows merchants to host a payments system that complies with the Payment Card Industry data security standard. Merchants build their own payments technology by drawing from a library of Iyzi-built widgets. These widgets can be adapted to the merchants specifications.
"Integrating and handling payments is a challenge for online merchants all over the world, and there is no difference in Turkey. Our goal is to simplify handling payments for merchants, and to offer a fast and easy way to integrate payment methods with the checkout process," said Barbarous Ozbugutu, Iyzi Payments' CEO, in a release.
Iyzi, which is based in Istanbul, offers other products such as Iyziconnect, a routing module for international payments, and a payment bridge to Turkey for payment service providers and international merchants.