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TMCNet:  Cardtek Launches New International Growth Strategy

[April 17, 2017]

Cardtek Launches New International Growth Strategy

Cardtek, a leading international payment technologies provider, today announced that it has launched a new international growth strategy to become a global leader in financial technology. After recording a nearly 50 percent growth in revenue in 2016, the company will continue to be led by Executive Chairwoman Ayse Nil Sarigöllü, while undergoing organizational upgrades in 2017.

MV Holding and Revo Capital acquired a 24 percent stake in Cardtek in 2016 and now Turgut Güney, one of the sector's most experienced figures, is joining the Cardtek Holding's management team as CEO. Having set its target of becoming a global technology giant, Cardtek has simplified its partnership structure and added top-level professionals at a global level to its organisational structure.

"Our focus is the global market, and becoming one of the leaders in this market," said Ayse Nil Sarigöllü, Executive Chairwoman for Cardtek. "We saw the benefits of our determined efforts to this end in 2016. With a 49 percent increase in turnover, our group achieved significant growth in the sector. The strength provided by MV Holding and Revo Capital played an important role in this success. As the second major step in our globalisation plan, we simplified our partnership structure and are transforming the company with a new management team. As part of this strategy, Turgut Güney, a highly respected industry thoughtleader, has joined us as Cardtek Holding CEO. Alongside this, we are also focusing on international growth and investor relations. In order to effectively manage this process, we are preparing to open a new office in Silicon Valley. With our enhanced staff and management team, sound financial structure and market-leading products and solutions, we are taking firm steps towards becoming a global leader."

To date, Cardtek has been the pioneers of more than 20 "global firsts". With its powerful international partnerships and new generation technological solutions, the company continues to make rapid inroads into new territories. The company played a key role in revolutionising public transport in India, by not only facilitating the move to the use of cards on Bangalore's buses but also introducing the use of both contact and contactless cards. In the near future, both contact and contactless bankcards will be accepted on the Kochi metro thanks to Cardtek technology.

In the last year, Cardtek has partnered with many of the top players in the financial sector - including NXP, one of the top 10 microelectronic companies in America and Europe's second biggest chip manufacturer, in order to facilitate innovative solutions in wearable technology. Cardtek has also partnered with DC Payments, Canada's largest integrated payment systems solution provider, and Emcredit, a subsidiary of the Dubai Economic Department (DED), to launch the secure mobile payment platform, empay, offering United Arab Emirates residents a national mobile wallet solution.

Cardtek will be continuing its strategy for growth and pioneering on an international scale with more innovative projects and global firsts in the pipeline for 2017 and beyond.

About Cardtek:
Since 2001, Cardtek has provided innovative end-to-end payment solutions to more than 150 customers in 25 countries, including financial institutions, processors, telecom operators, personalization bureaus, retailers, terminal and card vendors, and public transportation authorities. Cardtek is a leading player in emerging mobile payment, open-loop transit and wearable payment technologies. With 15 years of experience in EMV, Cardtek is offering well-established solutions to the US market from its new Silicon Valley Office. For more information, visit http://www.cardtek.com.


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