Ziraat Bank Launches Mobile Wallet Built with Fintech Partners VeriPark and MagiClick
Ziraat Bank, one of Turkey's largest state-owned banks, launched Bankkart Mobil on March 12, 2018, a proprietary mobile wallet aimed at digitising payments for its extensive customer base. The product was developed through a partnership with fintech firms VeriPark, a digital banking solutions provider, and MagiClick Digital, a digital experience agency. Bankkart Mobil enables customers to conduct mobile payments leveraging the bank's existing card infrastructure.
The collaboration illustrates how established banks are partnering with specialist fintech vendors to accelerate digital product development rather than building entirely in-house. Financial terms of the technology partnerships were not disclosed. The launch positioned Ziraat Bank among Turkish banks expanding embedded finance capabilities through fintech collaboration.
The wallet complements the bank's existing Bankkart card programme by extending it into the mobile payments space.
- Illustrates growing trend of traditional banks in emerging markets leveraging fintech partnerships for digital product development
- Signals increasing competition in Turkish mobile payments with state-owned banks accelerating digital transformation