Bitupcard expands to more than 300 retail stores in Turkey

We are sharing here our press release about Bitupcard's expansion - also featured here by CoinDesk!

— Bitupcard's main page depicting Istanbul's Bosphorus bridge in the background

MK Payment and bit4coin are announcing the expansion of Bitupcard to additional 270 retail locations in Turkey, driven by a successful pilot launch in December. Bitupcard now enables customers to buy bitcoins in more than 300 retail locations, covering all major cities like Istanbul, Ankara and Izmir, and many smaller towns. Bitupcard eVouchers work similar to prepaid mobile vouchers, and are available for purchase in denominations of 50–500 TL (~20–200 US$) against cash.

“Market reception has been very positive, and many customers told us they would like to buy bitupcard eVouchers, but that the stores were simply too far away from where they live or work”, says Ibrahim Tarlig, CEO of MK Payment. “Our expansion now solves this problem”.

Turkish consumers have embraced the opportunity to buy bitcoin at retail locations, with overall sales exceeding TRY 50K (~$25K) in the first 10 weeks at only 30 stores. “We are excited with the early success we are seeing in the market”, says Dolf Diederichsen, Founder and CEO of bit4coin from Amsterdam. “The launch has exceeded our expectations, and we are very happy to quickly expand the reach and make bitupcard even more accessible to more customers.”

Both companies are already working on future plans to further increase the store network within Turkey, as well as entering new markets. “We are excited to help spread bitcoin to even more locations with bitupcard!” says Tarlig.

By Dolf Diederichsen (Google+)
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