Morpara, Turkey’s new-generation financial technology brand, is redefining the process of receiving payments from Europe and the United Kingdom with its newly developed product, morGATE. Working in integration with Currencycloud, a Visa solution for cross-border payments and multi-currency capabilities, morGATE enables Turkish companies to access virtual IBAN details for EUR and GBP collections using existing local payment networks such as SEPA (for EUR) and Faster Payments (for GBP). This allows businesses to receive payments from abroad within seconds, without having to endure the lengthy, complex, and costly processes associated with traditional money transfer methods.
morGATE was developed specifically for SMEs exporting to Europe and the UK, e-export brands, software and consulting firms, health tourism companies, educational institutions, and businesses operating in the tourism sector. Through this system, companies can accept payments from their European customers via virtual EUR and GBP IBANs registered in their own names, using a local transfer model.
International Money Transfers Are Becoming Local
Today, for many companies in Turkey, receiving payments from Europe still means high commissions, long waiting times, and operational complexity. SWIFT transactions can take three to five business days due to intermediary banks, and transfer costs along with currency conversion fees can directly affect companies’ profitability. morGATE redesigns this process through a local collection model, offering companies a faster, more transparent, and lower-cost alternative.
One of morGATE’s most notable advantages is its structure, which can help reduce costs associated with cross-border collections. It also enhances companies’ financial security by reducing potential chargeback risk.
Morpara General Manager Hakan Özat described the new opportunities morGATE brings to corporate collections as follows:
“One of the biggest problems faced by companies in Turkey that export and regularly receive payments from Europe is slow, costly, and complex payment processes. We developed morGATE specifically to solve this problem. Thanks to our system, which runs on Visa’s state-of-the-art infrastructure, companies can have their own local collection accounts in Europe and receive their payments within seconds. For the first time in Turkey, we are offering companies a structure that is this accessible, fast, and operationally efficient.”
Noting that they are proud to bring another innovation to the sector, Özat added:
“The entire vision behind morGATE is to transform collections made by corporations from Europe and the UK from an international money transfer process into a local collection model through international accounts.”
Emphasizing that this marks another addition to Morpara’s borderless payment technologies, Özat stated that morGATE aims to be accessible to all corporate users free of transaction fees and to directly contribute to their financial performance.
Visa Turkey General Manager Samile Mümin commented on the partnership as follows:
“We are pleased to collaborate with innovative fintech partners like Morpara to support Turkish exporters and SMEs in overcoming traditional cross-border payment barriers, opening the door to new international growth opportunities, and enabling them to participate more effectively in the global digital economy. As Visa, we are committed to helping businesses of all sizes connect to global opportunities through our innovative, secure payment solutions and modern financial infrastructure.”
Greater Visibility and Strong Controls in Cross-Border Collections
morGATE’s infrastructure is powered by the money transfer technology under Visa Direct’s Currencycloud platform. Operating in compliance with European regulations, the system stands out with strong risk controls, robust encryption infrastructure, and a fully auditable transaction structure.
Compatible with countries in the SEPA region, morGATE enables companies to receive payments from their European customers just like a local EFT/FAST transaction. As a result, businesses not only collect payments faster but also strengthen their cash flow and simplify their operational processes.
