Turkey Cards and Payments – Opportunities and Risks to 2027
Powered by
All the vital news, analysis, and commentary curated by our industry experts.
Turkey Cards and Payments Market Overview
The Turkey cards and payments market size was $356.1 billion in 2023 and will achieve a CAGR of more than 26% during 2023-2027. Turkish consumers are increasingly adopting payment cards, resulting in an increase in overall payment card penetration and usage in the country. With the increase in card usage, payment companies are offering cards with innovative features.
Turkey Cards and Payments Market Outlook, 2023-2027 ($ Billion)
Buy the Full Report to Gain More Information on the Turkey Cards and Payments Market Forecast
The Turkey cards and payments market research report provides a detailed analysis of market trends in Turkey’s cards and payments industry. It provides values and volumes for several key performance indicators in the industry including credit transfers, cash, mobile wallets, cards, direct debits, and checks during the review period.
Market Size (2022) | $356.1 billion |
CAGR (2023-2027) | >26% |
Forecast Period | 2023-2027 |
Historical Period | 2018-2022 |
Key Payment Instruments | Cash, Cards, Credit Transfers, and Checks |
Key Segments | Card-Based Payments, Merchant Acquiring, E-commerce Payments, In-Store Payments, Buy Now Pay Later, Mobile Payments, P2p Payments, Bill Payments, and Alternative Payments |
Leading Players | Ziraat Bank, DenizBank, Vakifbank, HALKBANK, Garanti BBVA, Yapi Kredi, and Akbank |
Enquire & Decide | Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase. |
Turkey Cards and Payments Market Dynamics
Retailers in Turkiye are focusing on offering innovative shopping experiences to boost in-store spending. In January 2023, e-commerce company Hepsiburada launched a cashier-less physical store. The store only permits entrance to individuals who are signed up to the company’s app. Customers use the app to scan a QR code at the entrance to gain entry. Biometric technology and cameras installed in-store detect when products are taken from or returned to shelves. Once an individual exits the store, the purchase amount is automatically debited from the payment method linked to the app.
Buy the Full Report for More Turkey Cards and Payments Market Dynamics Insights
Turkey Cards and Payments Market Segmentation by Payment Instruments
In 2023, cash was the major payment instrument in terms of transaction volume in the Turkiye cards and payments market
The key payment instruments in the Turkiye cards and payments market are cards, cash, credit transfers, and checks. Turkey is a cash-based economy as consumers generally use cash for day-to-day transactions. However, the segment will witness a decline due to the growing preference for electronic payments, improving payment infrastructure, and a growing banked population.
Turkey Cards and Payments Market Analysis by Payment Instruments, 2022 (%)
Buy the Full Report for More Payment Instrument Insights into the Turkey Cards and Payments Market
Turkey Cards and Payments Market Segments
The key segments in the Turkey cards and payments market are card-based payments, merchant acquiring, e-commerce payments, in-store payments, buy now pay later, mobile payments, p2p payments, bill payments, and alternative payments.
Card-based Payments: Turkiye has a well-penetrated payment card market. In 2023, debit cards dominated the Turkish payment and card market in terms of adoption. Post-COVID-19, the growing preference for electronic payments coupled with developing payment acceptance infrastructure have been successful in driving customers to gradually shift to card-based payments for day-to-day transactions. The rising preference for digital banking and growth in e-commerce are expected to further boost electronic payments going forward.
Payment Cards Analysis by Segments, 2023 (%)
Buy the Full Report for More Segment Insights into the Turkey Cards and Payments Market
Turkey Cards and Payments Market - Competitive Landscape
A few of the leading players in the Turkiye cards and payments market are:
- Ziraat Bank
- DenizBank
- Vakifbank
- HALKBANK
- Garanti BBVA
Turkey Cards and Payments Market Analysis by Players
Buy the Full Report for More Company Insights into the Turkey Cards and Payments Market
Segments Covered in the Report
Turkey Cards and Payments Instruments Outlook (Value, $ Billion, 2018-2027)
- Cards
- Credit Transfers
- Cheques
- Cash
Turkey Cards and Payments Market Segments Outlook (Value, $ Billion, 2018-2027)
- Card-Based Payments
- Merchant Acquiring
- E-commerce Payments
- In-Store Payments
- Buy Now Pay Later
- Mobile Payments
- P2P Payments
- Bill Payments
- Alternative Payments
Scope
This report provides top-level market analysis, information, and insights into the Turkey cards and payments industry, including:
- Current and forecast values for each market in Turkey’s cards and payments industry, including debit, credit, and charge cards.
- Detailed insights into payment instruments including cards, credit transfers, mobile wallets, direct debits, cash, and cheques. It also includes an overview of the country’s key alternative payment instruments.
- E-commerce market analysis.
- Analysis of various market drivers and regulations governing the Turkey cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.
Reasons to Buy
- Make strategic business decisions, using top-level historical and forecast market data, related to the Turkey cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Turkey cards and payments industry.
- Assess the competitive dynamics in the Turkey cards and payments industry.
- Gain insights into marketing strategies used for various card types in Turkey.
- Gain insights into key regulations governing the Turkey cards and payments industry.
DenizBank
VakifBank
Halkbank
BBVA
Yapi Kredi
Isbank
Akbank
TEB
QNB Finansbank
BNP Paribas
HSBC
Garanti Bank
TROY
Mastercard
Visa
American Express.
Table of Contents
Frequently asked questions
-
What was the Turkey cards and payments market size in 2023?
The cards and payments market size in Turkey was valued at $356.1 billion in 2023.
-
What is the Turkey cards and payments market growth rate?
The cards and payments market in Turkey is expected to achieve a CAGR of more than 26% during 2023-2027%.
-
Which will be the leading payment instrument in the Turkey cards and payments market in 2022?
Cards will be the leading payment instrument in terms of volume transactions in the Turkey cards and payments market.
-
Who are the leading players in the Turkey cards and payments market?
Some of the leading players in the Turkey cards and payments market are Ziraat Bank, DenizBank, Vakifbank, HALKBANK, Garanti BBVA, Yapi Kredi, and Akbank, among others.
-
Which payment card segment will dominate the Turkey cards and payments market?
Debit cards payment segment will dominate the Turkey cards and payments market.
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.