Turkey Cards and Payments - Opportunities and Risks to 2027
Summary
GlobalData’s ‘Turkey Cards and Payments - Opportunities and Risks to 2027' report provides detailed analysis of market trends in Turkey's 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 (2019-23e).
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 (2023e-27f). 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 Turkey's cards and payments industry, including -
Current and forecast values for each market in Turkey's 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 Turkey's 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 Turkeyian cards and payments industry.
Scope
Contactless payments are gradually being rolled out across transport systems. In January 2022, Izmir Metropolitan Municipality and Visa partnered to launch contactless payments for public transport in the city of Izmir. Initially, Isbank payment terminals were installed in airport buses, allowing commuters to make contactless payments. In January 2023, the country’s government announced plans to expand contactless payments to public transport systems in 40 provinces - up from the current figure of 11.
The human and economic losses caused by the February 2023 earthquake - as well as economic slowdown in Europe - will impact credit card market growth in the short to medium term. In a bid to spur consumer spending, the central bank is decreasing its key interest rate in a phased manner. The repo rate stood at 13% in August 2022, but was decreased to 8.5% in February 2023. This is likely to lead to an increase in credit card spending.
With the increase in card usage, payment companies are offering cards with innovative features. In January 2023, mobile wallet provider Papara launched the Mastercard-branded Voice card for visually impaired consumers. The card is linked to the Papara app, enabling card holders to hear the payment details via a voice message on their mobile phone in order to avoid incorrect transactions.
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.