The ‘Turkiye Cards and Payments: Opportunities and Risks to 2028' report provides top-level market analysis, information and insights into the Turkish cards and payments industry, including :
- Current and forecast values for each market in the Turkish cards and payments industry, including debit, and credit cards.
- Detailed insights into payment instruments including cash, card and cheques. It also, includes an overview of the country's key alternative payment instruments.
- Ecommerce market analysis.
- Analysis of various market drivers and regulations governing the Turkish cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, and credit cards.
- Comprehensive analysis of consumer attitudes and buying preferences for cards.
- The competitive landscape of the Turkish cards and payments industry.
The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2024e-24f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.
The report brings together the analyst’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.
Key Highlights
- The Central Bank of the Republic of Turkiye (CBRT) has been developing its digital currency, the Digital Turkish Lira, since 2019. The project aims to modernize the country’s payment system and promote financial inclusion by introducing convenient alternatives to traditional payments. The first pilot phase of the Digital Turkish Lira was completed in December 2022, with payment transactions conducted via the Digital Turkish Lira Network. Further pilot phases took place in 2023, involving a wider range of participants (such as banks and fintech companies). However, an official launch date had not been announced as of the time of writing.
- As well as payment cards, mobile payments are also gaining traction in Turkiye, driven by widespread acceptance of mobile wallets. The availability of domestic wallets offering convenience and security is attracting users, as is growing uptake of contactless payments. To benefit, in September 2023, Samsung Electronics Turkiye partnered with payment companies Visa, Pazarama, and Moka to launch the S Wallet mobile wallet solution. S Wallet enables consumers to make contactless payments via Samsung smartphones at POS terminals, as well as payments using wearable devices. The solution is aiming for over 1 million active users within three years of launch.
- Credit card adoption will further be fueled by banks offering installment payments. According to a report published by the Interbank Card Center (Bankalararasi Kart Merkezi [BKM]), Turkish consumers made TRY1.1 trillion ($46.4 billion) of payments via installments between January and September 2023, up 25% compared to the same period of 2022. To capitalize, banks are offering flexible payment options to their credit card holders. For instance, HSBC offers the Mastercard HSBC Premier credit card, which allows card holders to split purchases across two to six interest-free monthly installments. Going forward, installment payments will rise steadily, driven by the growing consumer preference for flexible payment options.
Scope
- Card market size in terms of number of cards, value and volume of transactions in Turkiye along with detailed card segmentation of debit and credit cards available in the country.
- Market sizing and analysis of major payment instruments including card, cash, credit transfer, and cheques .
- Payment market trends and growth for both historical and forecast period
- Competitor analysis with detailed insights into leading card issuers and schemes.
- Comprehensive analysis of consumer attitudes and buying preferences for cards.
- A detailed snapshot of country's key alternative payment brands.
Reasons to Buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Turkish cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Turkish cards and payments industry.
- Assess the competitive dynamics in the Turkish cards and payments industry.
- Gain insights into marketing strategies used for various card types in Turkiye.
- Gain insights into key regulations governing the Turkish cards and payments industry.
Table of Contents
1. Executive Summary
2. Market Overview
3. Payment Instruments
4. Card-Based Payments
5. Merchant Acquiring
6. Ecommerce Payments
7. In-Store Payments
8. Buy Now Pay Later
9. Mobile Payments
10. P2P Payments
11. Bill Payments
12. Alternative Payments
13. Payment Innovation
14. Job Analysis
15. Payment Infrastructure and Regulation
16. Appendix
List of Tables
- Key facts, 2024
- Benchmarking of payment cards, 2024
- Payment instrument transaction values (LCU), 2020-28f
- Payment instrument transaction values ($), 2020-28f
- Payment instrument transaction volumes (units), 2020-28f
- Payment cards in circulation by type (units), 2020-28f
- Volume of payment card transactions (units), 2020-28f
- Value of payment card transactions (LCU), 2020-28f
- Value of payment card transactions ($), 2020-28f
- Debit cards in circulation (units), 2020-28f
- Debit card transaction volumes, 2020-28f
- Debit card transaction values (LCU), 2020-28f
- Debit card transaction values ($), 2020-28f
- Debit cards in circulation by scheme (units), 2020-24e
- Debit card transaction values by scheme (LCU), 2020-24e
- Debit card transaction values by scheme ($), 2020-24e
- Debit cards in circulation by issuer (units), 2020-24e
- Debit cards transaction value by issuer (LCU), 2020-24e
- Debit cards transaction value by issuer ($), 2020-24e
- Credit cards in circulation (units), 2020-28f
- Credit card transaction volumes, 2020-28f
- Credit card transaction values (LCU), 2020-28f
- Credit card transaction values ($), 2020-28f
- Credit cards in circulation by scheme (units), 2020-24e
- Credit card transaction values by scheme (LCU), 2020-24e
- Credit card transaction values by scheme ($), 2020-24e
- Credit cards in circulation by issuer (units), 2020-24e
- Credit cards transaction value by issuer (LCU), 2020-24e
- Credit cards transaction value by issuer ($), 2020-24e
- Merchant acquiring transaction volumes (units), 2020-28f
- Merchant acquiring transaction values (LCU), 2020-28f
- Merchant acquiring transaction values ($), 2020-28f
- Acquirers’ transaction volumes (units), 2020-24e
- Acquirers’ transaction values (LCU), 2020-24e
- Acquirers’ transaction values ($), 2020-24e
- Retail outlets and card-accepting merchants (units), 2020-28f
- Debit card average interchange fees (%), 2020-24e
- Credit and charge card average interchange fees (%), 2020-24e
- Debit card merchant service charge and interchange fee (%), 2020-28f
- Credit and charge card merchant service charge and interchange fee (%), 2020-28f
- Retail market by product categories (LCU), 2020-28f
- Retail market by product categories ($), 2020-28f
- Retail market by service categories (LCU), 2019-23
- Retail market by service categories ($), 2019-23
List of Figures
- Inflation rate
- GDP growth rate
- Payment instruments transaction value and volume
- Instant payments transaction value and volume
- Card penetration
- Card payments by value
- Debit card frequency of payments and average transaction value
- Debit card schemes transaction value and volume
- Debit card issuers by number of cards and transaction value
- Credit card frequency of payments and average transaction value
- Credit card schemes transaction value and volume
- Credit card issuers by number of cards and transaction value
- Credit card debt
- Contactless card holding and usage in detail
- Merchant acquiring of payment card transaction value and volume
- Merchant acquiring of payment card transaction value and volume by company type
- Retail product by catagories transaction value and year-on-year grouth
- Retail services by catagories transaction value and year-on-year grouth
- E-commerce transaction value and ecommerce breakdown by mobile vs. desktop/laptop
- Ecommerce market by product and services
- Ecommerce market by paymnet tools
- Factors driving in-store payments and In-store transaction value by payment method
- In-store transaction value by products and services
- BNPL service used in the last six months and Preferred BNPL brand/tool for in-store payments
- BNPL online transaction value and transaction volume
- BNPL share of overall ecommerce transaction value and preferred BNPL brand/tool for online payments
- Mobile wallet holding and use by demographic
- Mobile wallet funding methods, mobile wallet preference by product/service and mobile wallet ownership by brand
- Domestic and international P2P money transfers
- Paymnet tool preference for bill payment and bill paymnet frequency
- Active jobs intensity in the country
- Number of POS terminals and ATMs
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Ziraat Bankasi
- DenizBank
- VakifBank
- Halkbank
- Garanti
- BBVA
- Yapi
- Kredi
- Isbank
- Akbank
- QNB
- Finansbank
- BNP
- Paribas
- HSBC
- Garanti Bank
- Visa
- Mastercard
- TROY
- American Express
