Expanding its reach beyond Turkey, the payment orchestration platform has taken a significant step towards global expansion by announcing its launch in Spain. This marks the beginning of Craftgate’s strategic internationalization drive across Europe and Latin America.
Craftgate makes payment management easier by connecting merchants and businesses with payment service providers (PSPs) and alternative payment methods (APMs) through a single platform. Founded by Hakan Erdoğan (CEO), Murathan Özcan (COO), Sabri Onur Tüzün (CTO), and Lemi Orhan Ergin (Chief Software Crafter) in 2020, the company has established itself as a leading player in the payments industry.
By offering a seamless integration with virtual POS terminals and payment entities, both local and international, Craftgate empowers businesses to adapt quickly to changing market demands and reduce operational costs. Hakan Erdoğan, CEO and co-founder of Craftgate, expressed his excitement about the Spanish market, highlighting its great potential for fintech services.
With a strong track record of growth, Craftgate has processed transactions worth 1 billion euros in 2023, representing a 443% increase. In the first half of 2024, the company’s payment volume reached 1,180 million euros, showing a 176% increase compared to the same period in the previous year. As of September 2024, Craftgate has recorded a 47% growth in processed transactions and 139% in billing volume.
According to Erdoğan, any business with an online presence and a virtual point of sale can integrate with Craftgate. The company’s approach provides flexibility and optimizes operations, contributing to sustained growth. Craftgate expects the volume of transactions processed to exceed €3 billion this year.
Jorge Sorial has been appointed as the Country Manager of Craftgate in Spain, bringing over 25 years of experience in payment management. Sorial expressed his enthusiasm for leading Craftgate’s entry into the Spanish market, highlighting the potential to transform online payment management.
Streamlining Online Payments in a Growing Market
Craftgate offers a range of features to help prevent revenue losses, increase payment success rates, and provide a seamless customer experience. Its products include payment gateways, smart routing systems, secure card storage, and recurring payments.
The company is finalizing its integration with Redsys, which will grant access to the majority of acquiring banks in the Spanish market. Craftgate also integrates with eCommerce platforms such as Shopify, PrestaShop, and WooCommerce, as well as payment systems like PayPal and Stripe.
As McKinsey’s Global Payment Report 2024 notes, payment orchestration is one of the key trends shaping the future of the sector. With online payments becoming increasingly popular, Spanish consumers have integrated digital transactions into their purchasing habits, resulting in a significant increase in online purchases and average spending.
Craftgate is at the forefront of this trend, providing solutions that simplify and optimize the payment experience. With its innovative approach and flexible payment options, the company is poised for continued growth and success in the Spanish market.