Business Forum • 14 October, 2024 at 1:20 PM
Token Payment Services (TOKEN), is the first payment institution authorized by the National Bank of Romania (NBR) to accept online payment operations and transactions at physical POS, which aligns with PSD2 regulation. Furthermore, the NBR has authorized TOKEN to conduct money remittance operations, facilitating the activities of online marketplace stores.This authorization marks a crucial step in TOKEN's expansion on the Romanian market and underscores the company's commitment to providing innovative, safe, and efficient payment solutions.
“The receipt of the NBR authorization opens new perspective for us in the Romanian market, which has generous human and technical resources. We intend to provide integrated and innovative solutions tailored to the specific needs of the local market. We are committed to supporting the digitization and financial regulation of commerce, adding value through our advanced payment technologies,” said Burak Yildiran, CEO of TOKEN Romania.
TOKEN Payment Services is the first subsidiary of TOKEN who is the market leader in Turkey, managing over 900,000 active terminals, processing approximately 6 million transactions daily and owned by Koc Holding A.S.
At the beginning of 2023, TOKEN expanded its operations in Romania, offering merchants one-stop-shop solutions with its Beko POS terminals and online solution which 100% developed in Romania.
These state-of-the-art payment solutions are designed for merchants of all industries and sizes, being used for both e-commerce and POS payments and integrated cash registers.
The company is also a manufacturer of its own payment equipment and devices under the Beko brand. TOKEN has recently obtained fiscal certification in Romania for two innovative devices: a cash register with an integrated POS, especially ideal for the HoReCa and retail sectors, and a cash register with an unattended payment terminal, perfect for oil& gas fueling stations.
TOKEN Payment Services S.R.L. is part of Koç Group, the largest private holding in Turkey, which has been present in Romania since 2003 through the brands Arctic, Beko, Grundig, Ford, and Otokar. With a portfolio of over 900,000 users, TOKEN is the market leader in payment platforms from Turkey (with a market share of 54%), securely managing approximately 6 million transactions daily. TOKEN entered the Romanian market at the beginning of 2023 through the Odero brand, bringing the concept of a one-stop-shop integrated, secure, fast, and easy-to-use digital payment solutions for any merchant.