In response to the latest regulatory updates by the Financial Crimes Investigation Board (MASAK)—the Turkish financial intelligence unit under the Ministry of Finance and Treasury responsible for combating money laundering and related financial crimes—Paratika has launched its mobile onboarding app, now available on both the App Store and Google Play.
The Paratika Onboarding App offers businesses a fully digital and compliant journey to complete identity verification using Near Field Communication (NFC) technology. This seamless process allows new merchants to finalize onboarding remotely—without paperwork or physical appointments—and start accepting online payments via Paratika’s Virtual POS within the same day.
Key Steps in the Digital Onboarding Journey:
•Applicants download the Paratika App and fill in the necessary business details.
•Users scan their ID card and hold it near their smartphone’s NFC reader.
•The system securely reads and verifies the ID chip data in real time.
•Facial recognition is completed through on-screen instructions to authenticate the user.
•Upon verification, businesses gain swift approval to access Paratika's payment infrastructure.
By integrating regulatory compliance with user-centric technology, Paratika redefines onboarding—reducing operational friction and accelerating time-to-transaction for digital merchants.