GlobalData's 'Turkey Cards and Payments - Opportunities and Risks to 2025' report provides detailed analysis of market trends in the Turkish cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, and cheques during the review-period (2017-21e).
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 (2021e-25f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.
The report brings together GlobalData'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.
The 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, cards, credit transfers, 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.
- To reduce the dependence on cash and drive the country towards a cashless society, the government formulated the Cashless by 2023 plan, as part of which various measures are being undertaken by the central bank, commercial banks, and payment services providers. These include the introduction of contactless cards and the launch of domestic payment scheme TROY. To further drive electronic payments in the country, the government introduced a standardized national QR code called Turkish QR Code in August 2020.
- To strengthen their presence in the market, acquirers are partnering with international companies. In August 2020, Isbank expanded its partnership with WeChat Pay to enable acceptance of WeChat Pay at Isbank's physical and virtual POS terminals across the country. Mobile payments can be accepted from customers using the WeChat Pay app in Turkish lira and Chinese renminbi at more than 500,000 merchants using Isbank POS devices.
- According to data released by the Interbank Card Center (BKM), there was an 82% increase in the number of contactless payments in October 2021 compared to the same period of 2020. Also in October 2021, 57% of in-store card payments were contactless. Meanwhile, the government raised the country's contactless payment limit from TRY350 ($26.46) to TRY500 ($37.80) in February 2022 in a bid to encourage consumers to use contactless payment options rather than cash. As a result, consumers do not need to enter their PIN for payments worth up to TRY500.
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 Turkey.
- Gain insights into key regulations governing the Turkish cards and payments industry.