Turkey Prepaid Card and Digital Wallet Business and Investment Opportunities Databook – Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend

Turkey Prepaid Card and Digital Wallet Business and Investment Opportunities Databook – Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend

Report Description

With the thriving e-commerce market fueled by the COVID-19 outbreak, the Turkish economy saw a transformation in the payment trends. Notably, the Turkish payment market aims to become cashless by 2023. Also, the Turkish financial authorities are taking various initiatives to drive e- payments, such as the national QR code, known as the Turkish QR Code, in August 2020.

Strong growth of the Turkish e-commerce market also widened the prepaid card market’s growth opportunity

The e-commerce market in Turkey recorded strong growth with the rising pandemic and reached new heights in 2021. According to PayNXT360, the e-commerce sales in Turkey increased more than 65% annually during this period. Moreover, with the increasing awareness and rising usage of contactless payment methods, PayNXT360 expects, with an environment well suited for innovation and entrepreneurship. Additionally, a large young population that is eager to adopt the cashless initiatives, the country will witness a surge in prepaid card adoption in the next four to eight quarters.

Ride sharing companies are building partnerships with fintechs to introduce mobile app-based payments

With the country adopting cashless initiatives, technology firms are partnering with taxi firms and banking providers to explore a convenient payment method where the taxi drivers will not need any separate point of sale (POS) terminal or any other additional hardware to receive payments. For instance,
In August 2021, Turkish taxi firm, Taxi 7×24 piloted a software POS (sPOS) solution provided by Payneer Technology. The technology will enable NFC enabled Android devices to make contactless payment through an app.
The company also partnered with Yapi Kredi bank to facilitate consumers.
The app will be accompanied by a prepaid card, where the collected money can be transferred and used to withdraw cash from ATMs or making card payments.

Digitized transit card has provided momentum to the growth of prepaid cards in Turkey

With contactless payments gaining popularity during the pandemic, transit cards are being digitized. For instance,
In November 2021, BELBİM AŞ, one of the subsidiaries of Istanbul Metropolitan Municipality (İBB), created a secure and convenient digital card called Digital Istanbulkart with the renewed mobile application known as Mobil Istanbulkart.
This mobile app with the virtual card has features such as password, fingerprint scanning, and face recognition technology.
Moreover, the digital card can be used in many areas, from transportation to online shopping together with campaign opportunities.

Payguru partnered with Iyzico to launch Direct Carrier Billing
In November 2021, Turkey-based mobile payments company, Payguru, partnered with Iyzico, provider of virtual Point of Sale solutions (POS) in Turkey, to launch Direct Carrier Billing (DCB) for digital wallet top-ups.
This solution will provide consumers, especially the unbanked and underbanked population, to top up the ‘Pay with Iyzico’ wallet through DCB.

According to PayNXT360, the prepaid card market (value terms) in Turkey increased at a CAGR of 11.6% during 2017-2021. Over the forecast period of 2022 to 2026, the market is expected to record a CAGR of 13.6%, increasing from US$10.36 billion in 2022 to reach US$17.22 billion by 2026.

This report provides a detailed data centric analysis of prepaid payment instruments, covering spend through prepaid cards and digital wallets across retail and corporate consumer segments. In addition, it provides a snapshot of consumer behaviour and retail spend dynamics in Turkey. With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.
Market dynamics: Provides a comprehensive view on size and structure, industry dynamics, market trends, consumer attitude and behaviour, and competitive landscape in prepaid card and digital wallet industry in Turkey.
Digital wallet segments: Provides value, volume and average value per transaction across 5 key spend categories in digital wallet. This includes retail, travel, entertainment and gaming, restaurant, and recharge and bill payment.
Open loop and closed loop prepaid cards: market estimates and forecasts to assess opportunities 13 open loop and closed loop prepaid market segments. Details four essential KPIs – number of cards in circulation, number of transactions, load value, and value of transactions.
Consumer attitude and behaviour: Drawing from proprietary survey results, this report identifies and interprets key prepaid KPIs, including spend by age, gender, and income level.
Retail spend: Breaks down retail spend across 11 categories to provide detailed insights on consumer behaviour and changing dynamics of prepaid card spend.

Scope

This report provides a detailed data centric analysis of prepaid payment instruments, covering spend through prepaid cards and digital wallets across retail and corporate consumer segments. In addition, it provides a snapshot of consumer behaviour and retail spend dynamics in Turkey. With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.

Turkey Digital Wallet Market Size and Forecast
Transaction Value Trend Analysis
Transaction Volume Trend Analysis
Average Value per Transaction

Turkey Digital Wallet Market Size and Forecast by Key Segments
Retail Shopping (Value, Volume, Avg. Value)
Travel (Value, Volume, Avg. Value)
Entertainment and Gaming (Value, Volume, Avg. Value)
Restaurant (Value, Volume, Avg. Value)
Recharge and Bill Payment (Value, Volume, Avg. Value)

Turkey Prepaid Card Industry Market Attractiveness
Load Value Trend Analysis
Transaction Value Trend Analysis
Transaction Volume Trend Analysis
Average Value per Transaction
Number of Cards

Market Share Analysis by Functional Attributes – Open Loop vs. Closed Loop, 2016 – 2025

Market Share Analysis by Prepaid Card Categories

Turkey Open Loop Prepaid Card Future Growth Dynamics, 2016 – 2025
Transaction Value Trend Analysis
Transaction Volume Trend Analysis
Average Value per Transaction
Number of Cards

Turkey Closed Loop Prepaid Card Future Growth Dynamics, 2016 – 2025
Transaction Value Trend Analysis
Transaction Volume Trend Analysis
Average Value per Transaction
Number of Cards

Turkey Prepaid Card Consumer Usage Trends
By Age Group
By Income Group
By Gender

Turkey General Purpose Prepaid Card Market Size and Forecast

Turkey Gift Card Market Size and Forecast
Gift Card Market Size and Forecast by Functional Attribute
By Open Loop Gift Card
By Closed Loop Gift Card
Gift Card Market Size and Forecast by Consumer Segments
By Retail Consumer Segment
By Corporate Consumer Segment
Gift Card Market Share Analysis by Retail Categories
Gift Card Market Share Analysis by Gifting Occasion
Gift Card Market Share Analysis by Purchase Location

Turkey Entertainment and Gaming Prepaid Card Market Size and Forecast

Turkey Teen and Campus Prepaid Card Market Size and Forecast
Teen and Campus Prepaid Card Market Size and Forecast by Functional Attribute
By Open Loop Teen and Campus Prepaid Card
By Closed Loop Teen and Campus Prepaid Card

Turkey Business and Administrative Expense Prepaid Card Market Size and Forecast
Business and Administrative Expense Prepaid Card Market Size and Forecast by Consumer Segments
By Small Scale Business Segment
By Mid-Tier Business Segment
By Enterprise Business Segment
By Government Segment

Turkey Payroll Prepaid Card Market Size and Forecast
Payroll Prepaid Card Market Size and Forecast by Consumer Segments
By Small Scale Business Segment
By Mid-Tier Business Segment
By Enterprise Business Segment
By Government Segment

Turkey Meal Prepaid Card Market Size and Forecast
Meal Prepaid Card Market Size and Forecast by Consumer Segments
By Small Scale Business Segment
By Mid-Tier Business Segment
By Enterprise Business Segment
By Government Segment

Turkey Travel Forex Prepaid Card Market Size and Forecast
Travel Forex Prepaid Card Market Size and Forecast by Consumer Segments
By Retail
By Small Scale Business Segment
By Mid-Tier Business Segment
By Enterprise Business Segment
By Government Segment

Turkey Transit and Tolls Prepaid Card Market Size and Forecast

Turkey Healthcare and Wellness Prepaid Card Market Size and Forecast

Turkey Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast

Turkey Fuel Prepaid Cards Market Size and Forecast

Turkey Utilities, and Other Prepaid Cards Market Size and Forecast

Reasons to buy
In-depth understanding of prepaid card and digital wallet market dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 75+ market segments and sub-segments of prepaid payment instrument in Turkey.
Develop market specific strategies: Identify growth segments and target specific opportunities to formulate your prepaid card and digital wallet strategy; assess market specific key trends, drivers and risks in the industry.
Get insights into consumer attitude and behaviour: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through prepaid cards and digital wallets.