Param became the first company to establish the Turkish Electronic Money System in 2014. Their primary motivation was to develop technology that could facilitate the growth of a ‘cashless world’. This motivation brought them to the cornerstone that established them as a significant player in the finance and technology industry: electronic money institution license.
They were the first company to obtain a license to operate an electronic money institution in Turkey in 2014. Their dedication, hard work, and unflinching commitment were the factors that led to their success.
Param launched the Turkish Financial Technological Company in 2016 and Turk Holding A.S. in 2018. These two establishments laid the foundation for Param’s future goals and vision and helped create the brand that we now know.
As a fast-growing Fintech company, Param always aimed to help the general public just as much as they wanted to help institutions. ParamCard, currently the most popular financial transaction method, has helped countless individuals’ transition to a cashless society. It’s taken Param less than five years to reach an astonishing four million ParamCard users. Their partnership with 100 different brands worldwide provides users with countless shopping opportunities. Instead of carrying cash or multiple credit cards, a customer instead carries only the ParamCard and be guaranteed just as many, if not more benefits.
Param has also made history by creating the first digital loan platform in Turkey – ParamLoan. Open for everyone from small business owners to salespeople, ParamLoan is bridging the gap between the financial and technological world. Saving the time we would usually spend filing documents and going to banks, ParamLoan provides a new generation of financial services accessible to everyone with smart use of technology.
The most significant advantage of ParamLoan is that it is customer-centric. Whether it be for payment, EMIs, or loan terms, the system provides customers with the best possible deal. With the growing digitization of all platforms, Param was one of the first to understand small business and women’s needs and the difficulties faced while managing a digital business in a cash-only world. Keeping these small business owners’ needs in mind, they launched a point of sale (POS) service.
The POS service is created specifically for customers who provide goods and services on social media platforms. Conventional payment methods can become difficult, and hence Param’s POS service is a solution that makes money collection simple for everyone. The POS system has solved many business owners’ problems as it requires only a link to transfer funds.