online payment systems in turkish e-commerce market
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Optimist Ödeme Sistemleri Kurucusu Hakan Erdoğan'ın 9 Ekim'de dersimizde yaptığı sunum.TRANSCRIPT
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Online Payment Systems
in Turkish E-‐Commerce:
Merchant Experiences
09.10.2014 Boğaziçi University E-‐commerce Lecture
İstanbul
1 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
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Predefined and SequenFal Life: Birth, School, University, Consultancy, Corporate Career, ...
2
@hakanerdogan
Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
Life with Entrepreneurship: Uncertain, ups and downs, stressfull, enjoyable, passionate, roller-‐coaster ...
1981 2005 2007 2012 2014
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3
Payment Systems Experience, Since 2007
Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
Credit / Debit Cards : -‐ EST / Asseco -‐ GaranF Bank GVP -‐ YKB Posnet
EFT / Wire Transfer:
-‐ IntegraFon of Internet Banking
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Business Models in E-‐commerce
4 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
Business Model İş Modeli
Marketplaces Pazaryerleri
E-Retailers E-Perakendeciler
Classifieds İlan Siteleri
Private Shopping Özel Alışveriş Kulüpleri
Group Buying Grup Satınalma / Fırsat Siteleri
Verticals Dikeyler
Price Comparison Fiyat Karşılaştırma Siteleri
Services over Internet İnternet Üzerinden Hizmet Satan Siteler
… …
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Business Models in E-‐commerce
5 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
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Why Payment Systems are so Important ?
• Payment systems are major sub-ecosystems of e-commerce
• Payment Systems always grow parallel with e-commerce:
6 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
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Why Payment Systems are so Important ?
• Banks and telco companies drives payment systems in
Turkey : o BKM Express
o İş Bank Parakod
o Garanti Bank iGaranti
o DenizBank FastPay
o Turkcell Cüzdan
o Vodafone Cep Cüzdan
o TTNET & Avea Mobilexpress
o …
7 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
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8
Chronology of Payment Systems in Turkey
Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
iPara November 2011
PaymentWall Turkey Office October 2011
PayU Turkey Office September 2011
PaytoGo Mid 2011
PayPal Turkey Office Early 2011
Mobilexpress Early 2011
Asseco SEE July 2010
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9
Chronology of Payment Systems in Turkey
Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
Vodafone Cep Cüzdan November 2013
Garanti Bank iGaranti May 2013
iyzico Turkey Office April 2013
DenizBank FastPay January 2013
İş Bank Parakod October 2012
Turkcell Cüzdan October 2012
BKM Express June 2012
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10
Chronology of Payment Systems in Turkey
Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
…
…
Öde.Al April 2014
Monitise – Pozitron Acq. February 2014
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Breakdown of Payment Systems in Turkey
11 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
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Cash on Delivery and EFT / Wire Transfer
12 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
1. Asenkron Ödeme Sistemleri (Asynchronous Payment Systems)
a. Kapıda Ödeme (Cash on Delivery = CoD)
b. EFT / Havale (EFT / Wire Transfer)
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Cash on Delivery and EFT / Wire Transfer
13 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
1. Asenkron Ödeme Sistemleri (Asynchronous Payment Systems)
a. Kapıda Ödeme (Cash on Delivery = CoD)
b. EFT / Havale (EFT / Wire Transfer)
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Card Payment Systems
14 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
2. Senkron Ödeme Sistemleri (Synchronous Payment Systems)
a. Kartlı Ödeme Sistemleri (Card Payment Systems)
i. Kredi Kartları (Credit Cards) * 57 million
ii. Banka Kartları (Debit Cards) * 102 million
iii. Ön Ödemeli Kartlar (Prepaid Cards)
* BKM, August 2014: hHp://www.bkm.com.tr/istaFsFk/pos_atm_kart_sayisi.asp
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Card Payment Systems
15 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
2. Senkron Ödeme Sistemleri (Synchronous Payment Systems)
a. Kartlı Ödeme Sistemleri (Card Payment Systems)
i. Kredi Kartları (Credit Cards) * 57 million
ii. Banka Kartları (Debit Cards) * 102 million
iii. Ön Ödemeli Kartlar (Prepaid Cards)
* BKM, August 2014: hHp://www.bkm.com.tr/istaFsFk/pos_atm_kart_sayisi.asp
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Online / Digital Wallets
16 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
2. Senkron Ödeme Sistemleri (Synchronous Payment Systems)
b. Alternatif Ödeme Sistemleri (Alternative Payment Systems)
i. Online / Dijital Cüzdanlar (Online / Digital Wallets)
Ø BKM Express
Ø iPara
Ø PayPal
Ø …
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Online / Digital Wallets – BKM Express
17 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
2. Senkron Ödeme Sistemleri (Synchronous Payment Systems)
b. Alternatif Ödeme Sistemleri (Alternative Payment Systems)
i. Online / Dijital Cüzdanlar (Online / Digital Wallets)
Ø BKM Express
Ø iPara
Ø PayPal
Ø …
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Online / Digital Wallets – BKM Express
18 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
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Online / Digital Wallets – BKM Express
19 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
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Online / Digital Wallets – BKM Express
20 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
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Online / Digital Wallets – BKM Express
21 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
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Mobile Wallets
22 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
2. Senkron Ödeme Sistemleri (Synchronous Payment Systems)
b. Alternatif Ödeme Sistemleri (Alternative Payment Systems)
ii. Mobil Cüzdanlar (Mobile Wallets)
Ø İş Bank Parakod
Ø Turkcell Cüzdan
Ø TTNET & Avea Mobilexpress
Ø iGaranti
Ø Vodafone Cep Cüzdan
Ø FastPay
Ø …
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Mobile Wallets – İş Bank Parakod
23 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
2. Senkron Ödeme Sistemleri (Synchronous Payment Systems)
b. Alternatif Ödeme Sistemleri (Alternative Payment Systems)
ii. Mobil Cüzdanlar (Mobile Wallets)
Ø İş Bank Parakod
Ø Turkcell Cüzdan
Ø TTNET & Avea Mobilexpress
Ø iGaranti
Ø Vodafone Cep Cüzdan
Ø FastPay
Ø …
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Mobile Wallets – İş Bank Parakod
24 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
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Mobile Wallets – İş Bank Parakod
25 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
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Mobile Wallets – İş Bank Parakod
26 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
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SMS Based Payment Systems
27 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
2. Senkron Ödeme Sistemleri (Synchronous Payment Systems)
b. Alternatif Ödeme Sistemleri (Alternative Payment Systems)
iii. SMS Bazlı Ödeme Sistemleri (SMS Based Payment Systems)
Ø Mikro Ödeme
Ø PaytoGo
Ø …
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Infrastructure Providers
28 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
3. Altyapı Sağlayıcılar (Infrastructure Providers)
a. PayU
b. iyzico
c. PaymentWall
d. …
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API Providers & Gateways
29 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
4. API Sağlayıcılar (API Providers & Gateways)
a. Asseco SEE (EST)
b. Garanti Bankası - GVP
c. Yapı ve Kredi Bankası - Posnet
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Breakdown of Payment Systems in Turkey
30 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
Asynchronous Payment Systems
Cash on Delivery
EFT / Wire Transfer
Card Payment Systems
Credit Cards
Bank Cards
Prepaid Cards
Online Wallets
BKM Express
PayPal
iPara
…
Mobil Wallets
İş Bank Parakod
Turkcell Cüzdan
TTNET & Avea Mobilexpress
iGaranK
Vodafone Cep Cüzdan
…
SMS Based Payment Systems
Mikro Ödeme
PaytoGo
…
Infrastructure Paroviders
PayU
iyzico
PaymentWall
…
API Providers and Gateways
Asseco SEE
GaranK Bank GVP
Yapı ve Kredi Bank Posnet
Alternative Payment Systems
Synchronous Payment Systems
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E-‐commerce Steps and Flows
31 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
SEO
Adwords
Affiliate
SEM
…
1-‐ Traffic
$ $ $
Product Image
Add to Basket
E-‐commerce Site
Product Info
4-‐ Add to Basket 2-‐ RegistraKon
E-‐mail
Name
Surname
Password
Password (re) GSM
Sex
+90
Reg. Form
M F
Register
3-‐ Desire
Search, browse, find women shoes Search
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E-‐commerce Steps and Flows
32 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
Address (Delivery/Invoice)
SelecKon
Basket – Product SelecKon
Payment Method SelecKon
Payment Result
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E-‐commerce Steps and Flows
33 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
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How to Increase Basket Conversion Rate
34 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
Address (Delivery/Invoice)
SelecKon
Basket – Product SelecKon
Payment Method SelecKon
Payment Result
SUCCESS = CONVERSION
SHOPPING CART ABANDONMENT
%65+ *
* hHp://www.ritholtz.com/blog/2012/05/shopping-‐cart-‐abandonment/ * hHp://baymard.com/lists/cart-‐abandonment-‐rate
GOAL: To Increase Conversion
• Minimum page transiKon
• Minimum click
• Minimum distracKng elements
• Maximum informaKon
• “Above the fold” concept
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Minimum Page TransiFon and Click
35 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
Max. 3 pages
No name surname, bank selecKon, card type (visa, mastercard, amex) selecKon
Skip Address ?
Segmented use of 3DS
Expire Month & Year is asked before CVC2 and formaoed as 08/17
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Minimum DistracFng Elements
36 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
No Menu, banner, logo, ads, basket items are clear
AddiKonal info is given in modal/lightbox without leaving page
Clear header and no links
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Maximum InformaFon
37 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
Clear breadcrumb
Card logo, bank, and associaKon is displayed
Basket and address summary is displayed
All banks installments and given card installments are displayed
CVC2 and 3DS informaKon is given
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Above the Fold Concept
38 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
Visible area of page
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Above the Fold Concept
39 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
Buoons and links are below the page
Visible area of page
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Above the Fold Concept
40 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
Visible area of page
Buoons and links are placed in the visible area of the page
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Above the Fold Concept
41 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
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Design of Card Payment Page
42 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
SyntacKc and SemanKc ValidaKons
• Length validaFon • Numeric input validaFon • 3DS supported card validaFon • Debit card installment validaFon • BIN validaFon and not exisFng
Virtual POS – installment validaFon • …
e.g.: Card Number • 15 or 16 digits, • CVV/CVC 3 or 4 digits, numeric • Luhn Algorithm check
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DistribuFon of Payment Errors
• 20 – 25 % of payment requests are failed
• Roughly 1/3 of those failed payment requests are caused by “insufficient funds – not enough limit” (33 – 38 %)
• Other Payment Errors: o General declined (15 – 18 %) o Invalid expire year or month (10 – 12 %) o Invalid CVV / CVC (2 – 3 %) o 3DS not supported by card / bank o Card does not support installment o Can not proceed, card is not allowed to internet payments o Technical problems, …
43 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
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Error Messages to Display
44 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
• Your card number is not valid, …
• Your expire year and month is not valid, …
• Your CVV / CVC2 is not valid, …
• Your card does not support installment …
• You can not make installment payments with debit cards, …
• Your card limit is below the payment amount, …
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Error Messages to Display
45 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
• Your bank does not proceed the payment request, …
• Your card/bank does not support 3DS payments, …
• Order ID is already used before, …
• The items you are gevng to buy are out of stock, …
• Payment transacFon is failed, … • …
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Payment and Refund Tests
46 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
Total 100 TL
20 TL
30 TL
50 TL
32 x Virtual POS x … ~ 100+ payment tests
Refund Tests
• Refund and cancel of 100 TL • Refund of 20 TL • ParFal refund: 5 TL of 20 TL • Second parFal refund: 10 TL of 20 TL • Cancel of refund of 100 TL J • …
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Payment and Refund Tests
47 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
• Payment systems do not have a tolerance for a mistake
• You have to go live with 0 bug
• It’s beHer not to accept payment than accepFng payment with bug that you haven’t realize (it may be too late when you realize the bug)
• If there is a 2 minute outage, the alarm bells start to ring
• Payment systems for the health of the heart and blood vessels Maximum adrenaline J
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ProacFve Monitoring: Payment and Refund
48 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
Now is Thursday 03:40 pm. Considering last week Thursday between 00:00 – 03:40 pm and last 4 week average:
o How many payment transacFons requested ? o What about the amout of those transacFons ? o What about the breakdown of those transacFons based on Virtual POS’ses
and card families? o What about the success and failure rates ? o What about the distribuFon of payment errors ? o What about the standart deviaFon of those transacFons ? o …
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ProacFve Monitoring: Payment and Refund
49 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
• DayFme - Based on Virtual POS’ses
o The count of payment transacFons in last 2 minutes > 0 ? o The count of payment transacFons in last 3 minutes
> (last 4 week average) x 0.85 ? o The amount of payment transacFons in last 5 minutes
> (last 4 week average) x 0.85 ? o The count of payment errors in last 10 minutes
> (last 4 week average) x 0.85 ?
• At Night - Based on Virtual POS’ses
o …
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Status Quo
50 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
ü Shopping Steps
ü Card Payment Page (minimalist approach, the maximum informaFon)
ü SyntacKc and SemanKc ValidaKons
ü DisKribuKon of Payment Errors
ü Payment Errors to Display
ü Payment and Refund Tests
ü ProacKve Monitoring
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New Feature Development ve 4 Check Points
51 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
4-‐ Is there a payment problem ?
51
1-‐ Is there a Fraud risk ?
2-‐ Is there a refund problem?
3-‐ Is there an accounKng problem?
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Fraud and Chargeback
52 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
• Fraud detecFon, fraud prevenFon and monitoring mechanisms
o User’s history and profile o Item’s price o Online item / offline item o Payment locaFon, IP address and cookie informaFon o Other cards used by the user o Cardholder name surname vs user membership name
surname o Shipment address vs membership address informaFon o Payment errors encountered by user o Payment fail / success staFsFcs of user o …
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Fraud and Chargeback
53 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
• Fraud detecFon, fraud prevenFon and monitoring mechanisms o Rule sets o Learning systems o Data mining considering previous data o PotenFal risk algorithms
• Chargeback Flow o Chargeback request o The appeals process o Returning/rejecFng the chargeback request
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Security
54 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
• Personal Security o Using known and safe shopping sites o Considering key-‐logger in public internet o Using 3D Secure o Using virtual cards o …
• Corporate Security o Not storing card informaFon o PCI – DSS o Audit o PenetraFon tests o …
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No Response Payments
55 Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
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Thanks
56
@hakanerdogan
hop://www.odemesistemleri.org
@odemesistemleri
Increase your revenue, decrease your costs by Payments OpFmizaFon hHp://www.opFmistpayments.com
@OpKmistPayment