“Banking venture MyGini aims to offer technological infrastructure services to banks in the U.S. in order to provide loyalty program skills”
In theworld of start-ups and tech enterprises, the common misconception is that most entrepreneurs are either university students or young graduates. Mehmet Sezgin, credited with the concept of the Garanti Payment Systems and Bonus Card, is challenging that idea.
However, the perception that only the millennials are undertaking technological ventures is not without its reason. The U.S. loves pushing young internet and technology entrepreneur stories, like that of Twitter’s Jack Dorsey or Facebook’s Mark Zuckerberg.
In fact, this has inspired many young people, university and even high school students to become entrepreneurs. When former U.S. President Barack Obama managed a panel of 700 global entrepreneurs at the 2016 Global Entrepreneurship Summit, Zuckerberg was shown as the model entrepreneur, a pioneer and an example for younger entrepreneurs. And it is not just the U.S., but people around the world love stories of young entrepreneurs who have succeeded out of the family garage.
The figures, however, show that this perception might not be entirely true. According to the Kauffman Foundation, three-quarters of all new entrepreneurs in 2014 were between the ages of 35 and 64, and most were over 45. This indicates that the chances of success for entrepreneurs over 40 and 50 are high.
In Turkey, there are not many examples like Mehmet Sezgin, who played a big role in the success of Turkey’s customer loyalty card, bonus.
After his success in Turkey, he became a manager at the global banking giant BBVA before moving to San Francisco last year. Currently, he is working on a payment system project called MyGini. Speaking with him at his new office, Sezgin talked about the goals and experiences of the new venture.
MyGini Inc. Introduces a Pioneering Payment Software Platform in the U.S. Market
MyGini Inc., a San Francisco-based provider of leading-edge software solutions for the fintech sector, announced the upcoming unveiling of its integrated payments and loyalty application, myGini. Launched on October 22 at the Money 20/20 conference in Las Vegas, myGini represents a true innovation in the U.S. financial services market.
myGini is an integrated payments and shopping app that connects cardholders, retailers and banks and financial institutions. By serving as a bridge between MasterCard/Visa networks and financial institutions, it delivers an enhanced shopping experience for consumers, while increasing transactional volume for retailers and banks and financial institutions
As Mehmet Sezgin, founder and CEO of MyGini Inc., explains, “myGini provides two core benefits that really break new ground in the U.S. card market. First, its loyalty engine offers retailers a highly sophisticated platform to roll out creative promotions that draw repeat customers. Second, its real-time push notifications, which cardholders receive with every purchase, simultaneously trigger parallel offers from their banks and financial institutions and, a feature that boosts transaction activity and builds customer engagement.”
Through this initiative, the company will minimize integration efforts required from bank, financial institutions and retailers by leveraging their current infrastructure and integrating MyGini systems with MasterCard and Visa APIs. At the same time, MyGini will offer retailers an extensive range of offer platforms to replace paper-based coupons and rebates. Lastly, the firm aspires to build traction in the mobile-wallet niche by harnessing existing card transactions.
Sezgin, a payments and banking expert with broad worldwide experience, points out, “The dynamics between card issuers and merchants are unique in each country. However, this is not the case for cardholders. No matter where they live, consumers recognize a winning value proposition when they see it.”
MyGini exhibited in Booth 850 at the Money 20/20 conference hosted in The Venetian from October 22-25. The world’s premier event for financial payments and services will gather more than 11,000 attendees from 4,500 companies and 85 countries.
Founded in 2016, MyGini Inc. is headquartered in San Francisco and financed by a group of private investors.