In a statement to the Public Disclosure Platform (KAP), İşbank announced that the necessary authorization has been granted for merger negotiations between United Payment and its subsidiary, Moka Payment and Electronic Money Institution.
United Payment and Moka, a subsidiary of İşbank, are uniting their strengths. İşbank has authorized its General Directorate to initiate talks for the merger of Moka Payment and Electronic Money Institution with United Payment Services and Electronic Money, with the aim of exploring synergy and growth opportunities both domestically and internationally.
In the statement made to the KAP, the bank said: “Our General Directorate has been authorized to conduct negotiations regarding the merger of our subsidiary, Moka Payment and Electronic Money Institution Inc., with United Payment Services and Electronic Money Inc., taking into account joint management principles, in order to evaluate synergy and growth opportunities in domestic and international markets. Should the negotiations result in a positive outcome, our General Directorate is also authorized to carry out all necessary actions, including submitting applications to regulatory authorities and making the required capital and asset planning arrangements. Further information will be provided if there are concrete developments in the process.”
The merger aims to capitalize on growth opportunities in both domestic and international markets.
Mirella Fiorentino, Graduating in Banking and Finance from the University of Milan, Italy, Mirella began her career as a risk management specialist at an international bank in Spain. She quickly made a name for herself in the industry by focusing on financial risk analysis and sustainable banking solutions. With her keen analytical skills and attention to detail, Mirella develops innovative solutions for complex financial problems. Currently, she works as a financial consultant at a fintech startup in Madrid. Mirella has authored multiple studies on the role of new technologies in the banking sector.
