Remittance volume of UPT reaches $1 billion last year

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Some $1 billion was sent through the new Turkish payment system Uluslararası Para Transferi (UPT) in 2020, UPT General Manager Hakan Özat has said.

“We conducted transactions with 142 countries in 2020. Georgian citizens employed in Turkey in cleaning services and textile works by sending savings to their families at home have created robust transaction traffic. Uzbek and Kyrgyz nationals followed them,” Özat said.

The UPT services are available at 400,000 points in 176 countries.

In 2020, the top source country in money transfers to Turkish receivers via UPT was Germany (16 percent), which has a Turkish population of nearly 3 million. Russia and Jordan followed with 9 percent each.

The Turkish national postal service PTT has struck deals with 106 institutions abroad to provide money transfer services at 400,000 UPT points worldwide.

Hurriyet Daily News

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