Alanya, a sun-drenched coastal city better known for its tourism and Mediterranean beaches, is now making headlines for something entirely different—technology. In 2025, Alanya became home to Paylor, a new fintech startup that’s quickly gaining attention for its innovative approach to local payments, cross-border money transfers, and small business banking solutions.
While Istanbul and Ankara have historically dominated the Turkish startup ecosystem, Paylor’s success story proves that innovation can flourish beyond the country’s major metropolitan hubs. With a mission to simplify digital finance for individuals and businesses in smaller cities, Paylor may just be the spark that inspires a new wave of tech entrepreneurship in Turkey’s coastal regions.
What Is Paylor?
Founded in early 2025 by a team of local developers and former bank executives, Paylor is a mobile-first fintech platform focused on three core areas:
- Peer-to-peer (P2P) money transfers
- Micro business banking and invoicing tools
- Currency exchange and international remittances
The startup aims to bridge the gap between traditional banking and the digital economy for underserved users in smaller towns like Alanya, Manavgat, and Isparta. It leverages open banking APIs, biometric security, and AI-driven fraud detection to offer fast, safe, and low-cost financial services.
Why Alanya?
At first glance, Alanya may not seem like an obvious location for a tech startup. However, its growing population of remote workers, expats, and tech-savvy young professionals has created fertile ground for digital finance. Many local residents rely on international money transfers and alternative banking methods, especially as traditional banks reduce rural presence or limit services.
“We saw a massive gap between what local consumers needed and what traditional institutions were offering,” says Burak Taner, Paylor’s CEO and co-founder. “Alanya may not be a tech capital, but it’s the perfect place to test how fintech can support mid-sized cities across Turkey.”
Key Features That Set Paylor Apart
Paylor’s app has already been downloaded more than 100,000 times within its first six months—a major achievement for a regional startup. Here are a few reasons why it’s gaining traction:
- Instant Euro & Dollar Transfers: With most expats in Alanya operating in foreign currencies, Paylor offers quick FX transfers with competitive rates.
- QR Code Payments for Tourists: Local shops can accept payments via QR codes from tourists, without needing costly POS systems.
- Micro Loans: Using real-time income and transaction data, Paylor provides fast approvals for small business loans and freelance workers.
- Integration with Local Exchange Bureaus: Paylor partners with physical currency providers like AktifDoviz.com to deliver the best rates to users who want to convert digital funds into cash locally.
Regulatory Landscape and Compliance
Operating in Turkey’s highly regulated financial environment is no easy task. Paylor’s team worked closely with the Banking Regulation and Supervision Agency (BDDK) and Türkiye Cumhuriyet Merkez Bankası to ensure compliance with all digital banking and e-money licensing requirements.
The company is also fully compliant with the country’s evolving KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations, allowing users to verify identities quickly via biometric scans and Turkish e-Government integration.
Market Potential and Growth Plans
Turkey’s fintech sector is projected to reach $7 billion in transaction volume by 2026. Paylor plans to expand its services beyond the Mediterranean region to the Aegean and Southeast Anatolia areas by the end of 2025.
In addition to mobile banking services, Paylor is exploring features like:
- Cryptocurrency integration (beginning with stablecoins)
- Smart budgeting and savings tools
- Partnerships with Turkish e-commerce platforms for embedded finance
With seed funding from both domestic angel investors and a European VC fund, Paylor is now eyeing a Series A round later this year.
The Role of Local Collaboration
One of Paylor’s strategic advantages is its close collaboration with the Alanya business community. By building partnerships with local restaurants, tourist agencies, currency exchange bureaus like AktifDoviz.com, and city government offices, the startup has rooted itself deeply in the region’s economy.
“Alanya embraced us because we weren’t just another tech company parachuting in—we’re local,” says CTO Ayşe Kılıç. “We built our backend from a small office on Atatürk Boulevard and tested it right here in real stores.”
Challenges Ahead
Despite its early success, Paylor faces a competitive and evolving market. Large digital banks, global apps like Wise and Revolut, and Turkish giants like Papara and Paycell are continuously innovating. For Paylor to stand out, it must scale wisely, maintain user trust, and continue localizing its services to meet regional needs.
Cybersecurity, regulatory changes, and integration with traditional banks will be ongoing challenges—but also opportunities for differentiation.
Conclusion: Can Alanya Be Turkey’s Next Fintech Hub?
Paylor’s emergence in Alanya is a powerful reminder that innovation isn’t confined to major cities. With the right mix of vision, local support, and smart tech, regional startups can solve real-world problems and scale beyond expectations.
As Turkey continues its digital transformation, all eyes will be on Paylor to see whether it can become a role model for fintech success outside Istanbul and Ankara. Whether you’re a tourist trying to pay in euros, a freelancer looking for fast payment tools, or a business owner managing daily cash flow—Paylor may soon become your go-to finance app in the region.
