James Harris Simons, known as Jim Simons, transitioned from being an award-winning mathematician and university professor to entering the finance world at 40. Surpassing legendary investors like Warren Buffett and George Soros, Jim Simons achieved an extraordinary annual return of 66% over 40 years, earning a place among history's most successful investors.

Genius Mathematician and Legendary Investor Jim Simons: His Life, Investment Journey, and Career

Answering some of the most pressing questions for SMEs, such as what KOSGEB is, the differences between credit and grant support, who can apply, and how to apply, is the focus of this article in the Papel Blog...

Lifeline for SMEs: What is KOSGEB Credit and Grant Support? Who Can Benefit?

In its simplest form, a money transfer is sending and receiving money between two different accounts. Various factors can influence the duration, limit, and fees associated with money transfers, whether domestic or international, within the same bank or across different banks. The most fundamental methods of transferring funds include bank transfers, Electronic Funds Transfer (EFT), SWIFT, and instant payment systems.

Money Transfers: Understanding the Differences Between Bank Transfers, EFT, SWIFT, and Instant Payment Systems

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Inflation Cools but Keeps an Eye on the Dashboard:

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2024 might not be a high-speed race, but it's definitely a marathon of opportunities

. By understanding the economic shifts and making informed decisions, individuals and businesses can not only survive but thrive in this dynamic and evolving landscape. Remember that information is your fuel, and with an accurate map and a careful attitude, you can effectively navigate the slower lane of 2024.

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Buckle up, 2024 promises a ride through an economic landscape where growth takes a pit stop and the scenery shifts unexpectedly. While headlines might scream "slowdown," a closer look at the forecasts from the OECD and J.P. Morgan reveals a year full of twists and turns, ripe for both caution and opportunity. Let's navigate the road ahead:


OECD & J.P. Morgan Predict Modest Growth and Shifting Landscapes in 2024

For those dreaming of launching their venture, establishing their own business, or expanding it, the first step is to become knowledgeable about the company formation process. Turkey offers a dynamic market presenting business and investment opportunities to local entrepreneurs and foreign investors. However, understanding the details and requirements of the company formation process in Turkey is crucial for confidently embarking on this journey.

Here's Everything You Need to Know: Establishing a Company in Turkey

"POS," an abbreviation for "Point of Sale," means electronic systems widely operated by various businesses for facilitating quick and secure payment transactions. Owners of POS systems can effortlessly accept payments via credit cards, debit cards, QR codes, NFC, and other such technologies. Since their beginnings, POS systems, which include components such as card readers, keyboards, and displays, have grown in tandem with technological advances.

Unlock Growth in 2024: Your Essential Guide to POS Systems

One of the most significant expense items for many businesses is taxes paid. If the necessary conditions are met, a portion of the taxes collected through deductions or other methods can be refunded. 

Tax Refund: How to Apply and How the Process Works?

This powerful technology, capable of creating text and images, is moving beyond the lab and into real-world applications. Fintech companies can leverage it for personalized financial experiences, while other industries can utilize it for marketing, design, and product development.

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As technical tasks become automated, human skills like emotional intelligence, communication, and problem-solving become even more critical. Companies will invest in fostering these skills in their workforce to thrive in an AI-driven economy.

Businesses are realizing the immense value of their data and exploring ways to monetize it. This could involve selling data insights to partners, developing data-driven services, or even creating entirely new data-powered business models.

Sustainability as a Competitive Advantage

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Consumers increasingly favor environmentally conscious companies, while green solutions often lead to bottom-line growth. Businesses will prioritize sustainable practices not just for ethical reasons but also for market success.

Companies of all sizes are embracing personalization to connect with customers on a deeper level. This includes customizing products, services, and marketing messages to individual preferences and strengthening customer relationships and loyalty.

The flexibility of remote work is no longer a pandemic perk but a standard expectation for many employees. Companies must adapt their operations and culture to accommodate a geographically dispersed workforce.

The race to develop and adopt generative AI will be fiercely contested, with potential antitrust scrutiny looming for tech giants.

 may see even more IPOs as they seek access to public markets.

 will face more challenging market conditions, with the focus shifting towards experiential luxury like travel and hospitality.

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 will become even more crucial in the age of AI to ensure fairness and mitigate potential biases.

 will be a crucial strategy for businesses navigating threats like cyberattacks, economic downturns, and environmental issues.

2024 promises to be a year of continued change and transformation for businesses. By embracing technological advancements, prioritizing sustainability, and understanding evolving customer preferences, companies can navigate these trends and ensure success in the year ahead.

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Forbes and the Financial Times offer insightful forecasts for 2024 in business, highlighting trends impacting diverse industries, from fintech to luxury fashion. While some trends, like AI integration and sustainable practices, aren't entirely new, they're poised to accelerate and evolve in 2024. Let's delve into some key insights from both articles.

Navigating 2024: Business Trends That Will Shape the Year

One of the life-simplifying features of Papel is the Bill and Institution Payments. Completing bill and institution payments via the Papel mobile app and website is fast and easy!


Bill and Institution Payments on Papel!

You can easily deposit money into your Papel wallet in a few steps. To deposit money quickly, easily, and for free into your Papel account, follow these steps:

How to Deposit Money into Your Papel Wallet?

Prepaid cards are the new generation of payment cards that can be used for online and physical shopping and offer the ability to withdraw cash. 

What is a Prepaid Card? Its Uses and Benefits

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The Papel Virtual Card is a virtual payment tool for online shopping. You can create a virtual card anytime, regardless of account type. Accessible easily via Papel.com.tr or our mobile app, these virtual cards are always at your fingertips, offering practical use and advantages.

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Creating a Papel Virtual Card is very easy! You can activate your card in seconds by following the Cards > Create New Card > Create Virtual Card steps on the Papel.com.tr website or our mobile app.

: You can start using the Papel Virtual Card the moment you create it. The card number, expiration date, and CVV information are immediately ready for use.

: Creating up to 10 Papel Virtual cards is entirely free. Use them securely, set limits, or cancel them whenever you want.

: You can subscribe to platforms like Netflix, Spotify, and YouTube or pay for your existing subscriptions with the Papel Virtual Card.

: Set your desired limit and keep your spending under control.

No, there isn't! One of the best parts about the Papel Virtual Card is this. Creating up to 10 cards is completely free. Shop freely and enjoy.

Your Virtual Card is Ready for Immediate Use

Your Papel Virtual Card is ready for use the moment you create it! View card details and start shopping immediately. You can easily track your transactions in the 'Transactions' section under the Cards menu.

Can I Transfer Money From My Papel Virtual Card to My Account?

There's no need to transfer funds to your Papel Virtual Card. You can spend the balance in your wallet through your virtual card. Additionally, you can easily set the limit of your virtual card and instantly determine how much of the balance in your wallet you want to use on your virtual card.

Why is the Papel Virtual Card More Secure?

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The Papel Virtual Card is protected by international cyber security standards. Moreover, unlike physical cards, there is no risk of theft or loss. Additionally, the ability to quickly set spending limits helps prevent malicious use.

Feel the difference in the digital world with Papel!

to become a Papel Virtual Card owner or to learn more.

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Papel Virtual Card is one of the most notable products within the Papel ecosystem! You can enjoy the convenience and security of making all your online payments with prepaid virtual cards that you can create in seconds and use for both domestic and international purchases!

The Papel Virtual Card is With You for All Your Online Shopping Needs!

Open Banking, one of the most significant banking developments in recent years, is a system licensed by the Central Bank of Turkey (CBRT) in Turkey that allows financial institutions to share users' financial data with third parties securely.

All Bank Accounts in One App: What You Need to Know About Open Banking

Regardless of their risk perception, income expectations, or financial literacy levels, many investors in Turkey aim to better utilize their earnings and achieve higher incomes. Investment is the way to increase income regularly and sustainably. 

Investment Funds: Types, Advantages, and Taxation in Turkey

Many unforeseeable possibilities can affect our lives, which is valid for our economic situation. 

Unleash Your Money Power: The Ultimate Guide to Financial Literacy

So, what exactly is cashback, and how does it work? Cashback is a system where a certain percentage of the amount spent on a purchase is refunded to the consumer. Thus, consumers can save on their shopping and earn while spending. Lately, cashback rewards have become widespread for digital subscription payments. For example, assume you purchase a YouTube subscription through your Papel account. As soon as you make the subscription payment, a portion of the amount paid is immediately refunded to your account. You can use this refund for other purchases or withdraw it to your bank account.

In summary, cashback allows consumers to earn cash from their expenditures. Its most significant difference from other reward programs is that the refund is cash.

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Cashback programs offer consumers an advantage by refunding a certain percentage of their expenditures in cash. Usually, cashback campaigns are made possible through agreements between electronic money or credit card companies and retailers. Consumers earn a certain percentage on every purchase they make. This provides an advantage to consumers and encourages the use of electronic wallets or credit cards.

Companies offering cashback campaigns refund a certain percentage of purchases made at affiliated stores directly to the customer's account. This refund rate varies according to the type of shopping and campaign conditions. For instance, some cards may offer higher refunds for restaurant expenses, while others may provide travel or grocery shopping advantages. The conditions on when and how the cashback amount can be used may vary according to the campaign.

An electronic money institution offering cashback in many categories provides its users with a more advantageous shopping experience while achieving a higher transaction volume.

What Are the Advantages and Disadvantages of Cashback?

While cashback offers significant advantages for various purchases, it also positively affects store and electronic money institutions.

Advantages of cashback campaigns include;

Cashback campaigns allow consumers to save while shopping and earn extra rewards. Especially high cashback rates in specific categories can provide significant advantages to consumers. In recent years, the increasing influence of fintech companies in the finance sector has also led to more advantageous campaigns for consumers.

Cashback can generally be used in any area, offering great flexibility to consumers. The spent money can be directly refunded to the account or used for other purchases. For example, the refund amount earned with Papel Cashback is immediately deposited into users' accounts without any action required. Moreover, this amount can be used for other purchases or withdrawn in cash. Thus, users have complete control over the rewards they earn.

These programs are usually easy to use and understand. Consumers can automatically benefit from these advantages while shopping. Without additional applications, procedures, or limits, the amount is usually instantly refunded to the wallet.

Cashback helps companies gain customer loyalty and encourages more spending on the platform.

Many cashback campaigns immediately deposit the earned refund amount into the account, allowing consumers to receive rewards and see them in their accounts.

Some cashback programs may only be valid for specific categories or at affiliated stores.

To earn cashback, you must first make a purchase. Then, a portion of the paid amount is refunded to the account. This may only sometimes be suitable for some users.

In conclusion, cashback systems offer significant advantages to many users. However, consumers should carefully evaluate the terms and conditions of these programs and decide whether they are compatible with their shopping habits.

Do Cashback Rewards Have an Expiration Date?

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Cashback has become one of the most popular ways to earn while spending. However, due to the various applications, a frequently asked question is whether these rewards expire. The answer varies depending on the wallet or card used or the cashback campaign.

Generally, a cashback reward stays active as long as the account is active. For example, a cashback reward in your Papel wallet can be used anytime for any expenditure. However, conditions may vary in some cashback campaigns. Some reward programs may have expiration dates or require meeting certain criteria to keep your rewards active. Therefore, reading the rules and conditions before benefiting from a campaign is beneficial.

Is Cashback More Advantageous, Or Are Gift Cards?

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Cashback and gift cards offer different advantages for users with other shopping habits. However, there are some fundamental differences between these two promotional methods. We can list these differences as follows:

While gift cards can easily be used in specific stores or online shopping platforms, cashback rewards have a much more comprehensive range of uses. Gift cards are usually limited to a particular store or brand, whereas cashbacks can be used for almost any expense.

General-purpose gift cards can sometimes include high transaction fees. On the other hand, cashbacks usually do not require any additional fees.

Some cashback programs may offer extra bonuses for certain expenses. For example, some cashback promotions provide a bonus opportunity when a certain amount is spent within a specific period. Gift cards, however, usually cost a fixed amount and offer no extra advantages.

Gift cards may have minimum usage requirements or usage restrictions for specific products. Also, gift cards that are not used within a certain period may expire. Cashbacks, on the other hand, typically do not have these kinds of restrictions.

How to Maximize Returns from Cashback Rewards?

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In recent years, the finance and banking industry has undergone a significant transformation with the proliferation of digital technologies, and one of the terms we've started to hear more frequently is 'cashback.' Although cashback has been part of our lives for a long time, it has become more prevalent, especially with the rapid growth of fintech startups.

The Ultimate Cashback Guide: Pros, Cons, and Tips

Shopping is made easier with mobile payment, saving users time! In this guide, important information such as what mobile payment is, how it is done, and its advantages await Papel Blog readers. 

One-Click Shopping: A Guide to Mobile Payment

Credit score, which is critical for any business relationship established with banks and some other institutions, is primarily influential in determining an individual's borrowing limits and costs.

What Is Credit Score? How Can It Be Improved? Here's What You Need to Know About Findeks

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Fintech products and companies show 'complementary' and 'accelerating' characteristics. Fintech enables businesses, individuals, and consumers to execute financial transactions and operations more effectively. These technologies also improve access to financial services for those who were previously unable to get them. 

A Brief History of Fintech: How Did It Start?

Although the roots of what we know as fintech today can be traced back to the late 19th century, the modern fintech sector emerged during the banking crisis of 2008, when trust in traditional financial institutions decreased, and technological advancements increased. Fintech initiatives from this period reshaped the finance market.

Fintech 1.0 covers the early years of financial technologies, from the late 1990s to the mid-2000s. This period, marked by the digitization of essential financial services, electronic payments, and traditional banking processes, saw the development of online banking and early digital payment systems.

This phase spans from the mid-2000s to around 2010. Expansion into more sophisticated services, peer-to-peer lending, crowdfunding, and the advent of mobile technology integration happened during this time. The leading technologies of this period include mobile applications, advanced data analytics, and blockchain technology.

Used to describe the more recent years from around 2010 to the present, Fintech 3.0 is characterized by increased innovation, market disruption, and the integration of significant technologies such as artificial intelligence, machine learning, blockchain, and open banking. 

Fintech users can be divided into two main categories: Business-to-Business (B2B) and Business-to-Consumer (B2C). B2B fintech users are businesses that use financial technologies through smart devices, customer relationship management services, and cloud-based platforms to obtain financing, loans, and additional financial assistance. B2C fintech users, on the other hand, are users who prefer related applications for transferring money over the internet, managing financial needs, and accessing various financial services. The continuously evolving technologies and tools aim to simplify the transaction process and eliminate 'unnecessary' steps for all parties involved.

Like banks and other financial institutions, fintech companies are subject to legal regulations and must comply with various legal and regulatory rules to protect users and provide safe services. Data privacy, anti-money laundering laws, and cybersecurity are fundamental elements of fintech regulation. Fintech companies must comply with these regulations to operate in the financial services sector. For example, Papel is an electronic money and payment services institution established under Law No. 6493. It has been granted an operational license by the Central Bank of the Republic of Turkey (TCMB).

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Since its beginning, financial technology has continued to evolve, diversifying and expanding to meet the needs of various fields. Key areas where these technologies stand out include:

Mobile payment companies offer convenient and fast payment solutions through mobile apps and digital wallets.

Fintech companies in this field provide personalized investment advice and trade stocks and other financial assets using algorithms and data-driven insights.

Budgeting apps and services help users manage their financial situations more effectively, improving savings and spending habits with data analysis and personalized recommendations.

Companies in this area offer fast and low-cost international money transfer services by leveraging technology to reduce transaction costs.

Regtech companies develop solutions to help financial institutions comply with regulations and improve risk management processes.

Insurtech companies use technology to simplify insurance processes, improve customer experiences, and offer personalized insurance products.

P2P lending platforms and crowdfunding platforms allow individuals to lend and borrow money directly from each other, bypassing traditional financial intermediaries.

Financial technologies such as Bitcoin focus on decentralized ledger technologies and digital currencies. Peer-to-peer (P2P) transfers and transactions, smart contracts, and NFTs are significant outputs of blockchain technology.

Fintech companies that comply with the legal regulations of the relevant country offer loan opportunities in various areas, from education to working capital.

Since the early 2000s, the term 'fintech,' although initially seen by some investors and developers as a temporary 'excitement,' has radically transformed our daily lives today. So, what exactly is fintech? The term 'fintech' was formed by combining two words: financial and technology.  

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