Param announced its financial results in the second quarter of 2023. In the second quarter of the year, the number of transactions with ParamKart increased by approximately 1,880, and the transaction amount increased by 2,668% compared to the same period of the previous year. In the second quarter of the year, the transaction volume of ParamPOS increased by 303% and the number of transactions by 86% compared to the same period of the previous year.
Param, one of Turkiye’s most valuable fintech startups, continues to achieve its growth targets. ParamKart and ParamPOS products continue to lead the industry with record growth rates recorded in the second quarter of 2023.
Digital Products, Grocery Stores and Supermarkets, Gasoline and Fuel Stations became the sectors where ParamKart spent the most
Compared to the same period of the previous year, the number of transactions made with ParamKart increased by approximately 1.880%, and the transaction volume grew by 2.668%. The ranking of the sectors with the highest spending with ParamKart revealed the usage habits of the consumers. According to the data, ParamKart holders spent the most on “Digital Products”. In the second quarter of 2023, “Groceries and Supermarkets” took the second place, and “Gas and Fuel Stations” took the third place. “Electronic White Goods” and “Clothing Accessories” sectors followed the top three sectors with the highest spending.
Most spendings were on Tuesday, April 4
In the second quarter of 2023, it was observed that the most spending with ParamKart was made on Tuesday, April 4, while the increase in the average basket amount grew by 752% compared to the same period of the previous year.
ParamKart became the choice of Istanbulites
The majority of the expenditures made with ParamKart in the second quarter of 2023 were realized in Istanbul, as in previous years. Istanbul in their expenditure ratios, respectively; Ankara, Bursa, London and Izmir followed.
The rise continues in ParamPOS
The transaction volume of ParamPOS in the second quarter of the year increased by 303% compared to the same period of the previous year and reached ₺27 billion. The number of transactions made with the POS solution, on the other hand, grew by 86% and reached ₺38 million.
31% of the transactions made through ParamPOS in the second quarter of 2023 were in installments and 69% of them were single withdrawals. While the average basket amount grew by 116% compared to the first quarter of last year, the most spending was made on Wednesday, May 10. Debit card transaction volume increased by 377% and credit card transaction volume increased by 323% compared to the previous year.
The sectors with the highest spending with ParamPOS were listed as “Miscellaneous Retail Stores”, “Insurance Sales, Insurance and Premiums”, “Groceries and Supermarkets”, “Video Entertainment and Game Equipment”.
Param Founder and CEO Emin Can Yilmaz made a statement regarding the growth rates realized in the second quarter of the year;
“While we left the first quarter of 2023 behind with the growth records we achieved in our fields of activity, we continued our success by multiplying the results we achieved in the second half. With our advanced technologies that we have implemented in the financial field, we make a presence by making investments in the European countries we target as well as in Turkiye. We believe that with the synergy we have achieved with our investments, we will compete more effectively with other strong players in the sector, both in national and international markets. We will create innovations that make a difference by developing products and services within the framework of our technology power, expert team and R&D experience. My money will continue to invest and contribute to the economy and jobs.”
Source: Egirisim / Prepared by Irem Yildiz