Keycorp has won a hotly contested bid to provide a range of electronic payments solutions and services to Oyak Teknoloji, the technology arm of one of Turkey’s largest industrial and services groups.
Through Oytek, Keycorp has received an initial order for 10,000 K23 merchant terminals from Oyak Bank.
Over the term of the three-year exclusive distribution agreements, Keycorp anticipates that Oytek will deploy over 30,000 Keycorp EMV (Europay MasterCard Visa) smartcard-enabled payment terminals and more than two million MULTOS smartcard s. Keycorp will also provide training, technology consultancy and a range of value-added services. It is expected that over the three-year period, the Oytek relationship will generate around $30 million in revenue for Keycorp.
Mr Bruce Thompson, Chief Executive Officer of Keycorp, said the agreements opened the door for both companies to deliver a broad range of secure electronic payments solutions to customers throughout Turkey and neighbouring countries.
“Turkey is one of the most competitive markets in Europe and by earning this opportunity, Keycorp has shown beyond doubt that we have the necessary capabilities to win major deals in overseas markets,” Mr Thompson said.
“Keycorp is one of the few companies that can provide complete solutions, including cards, terminals and technology services.
“By combining our technology and expertise with Oytek’s skills and experience, we can offer customers the best end-to-end solutions available.”
