Last updated on July 28, 2019
ininal, the new generation payments platform, announced a new partnership with Visa, enabling the FinTech to issue prepaid Visa cards to its 3 million customers. ininal customers will be able to use the new redesigned cards in stores and online at any of the 53+ million merchants who accept Visa globally. The prepaid cards will also enable ininal consumers to withdraw cash at Visa accepting ATMs globally.
ininal CEO Ömer Suner emphasised that ininal would continue to be the first financial product for many young consumers and said:
“Through our partnership with Visa, we have enhanced the capabilities of the product we offer to our cardholders and made basic financial services more accessible to everyone. In this product relaunch, we have added a cash withdrawal feature that our cardholders were waiting for a long time. We are proud to issue our cards under our own Visa BIN and provide all the security and worldwide reach of Visa to our cardholders. Earlier this year, we had introduced bill payment capabilities through our ininal Wallet. Going forward, we plan to diversify the basic banking services we offer and add a 24/7 money transfer capability to our product features.“
Merve Tezel, General Manager for Turkey at Visa highlighted that innovation is at the core of Visa’s business and said:
“As payments continue to become increasingly digital, providing access to unbanked and underbanked populations becomes critical for the development of commerce. Through our partnership with ininal, we are enabling three million cardholders to benefit from Visa’s innovations making it easier, safer and more convenient to make payments wherever they are – instore and online. We will continue to work with ininal to make a difference to unbanked and underbanked consumers across Turkey.”
For the first phase of this partnership, over 3 million ininal card users will be able to get their new Visa prepaid cards at more than 10,000 sales points in Turkey (ŞOK Market, Migros, D&R, Teknosa, Practical Transactions, PTT, Vatan Computer and KİM Market).