Turkiye Cards And Payments: Opportunities And Risks To 2029

The ‘Turkiye Cards and Payments: Opportunities and Risks to 2029' 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 card, cash, credit transfer, and cheques during the review-period (2021-25e).

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 (2025e-29f). 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.

The ‘Turkiye Cards and Payments: Opportunities and Risks to 2029' 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, 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.

Key Highlights

• The rising adoption of contactless payments in transportation is aiding its usage. For instance, in February 2025, BKM and Kentkart, a Turkish technology company specializing in smart transit solutions, partnered to enable contactless public transport payments via bank cards, credit cards, and NFC-enabled phones across 24 cities. The collaboration leverages BKM's national payment infrastructure and Kentkart's transit expertise to eliminate the use of cash and tickets. This initiative also aims to modernize Turkiye's transit systems using domestic technology such as TROY payment cards, while offering convenience to customers and reducing reliance on foreign payment solutions.
• Instant payment transfers via Fast Payments are gaining traction in the country. To capitalize, the central bank introduced the new FAST Request-to-Pay overlay service in February 2024. This service allows the payee to initiate a payment request to the payer, offering various benefits to the payment ecosystem. It is expected to enhance electronic order payments and facilitate corporate invoice settlements. In January 2025, the service was expanded to cater to corporate users, broadening its applications to include business-to-business transactions. This enhancement enables companies to initiate request-to-pay demands when engaging with individual users. Additionally, the service now supports ‘partial payment’ and ‘early payment’ functions across all payment types, while the ‘delay payment’ feature has been activated specifically for payments initiated by corporate users.
• Competition has intensified further in Turkiye’s banking sector as the fintech firm Papara signed an agreement to acquire T-Bank (Turkland Bank), a digital-only bank, in March 2024. This strategic acquisition will enable Papara, a fintech platform offering services such as money transfers, bill payments, and prepaid cards, to venture into the traditional banking realm, thereby increasing competition among current market participants. The acquisition is subject to approvals from the Banking Regulation and Supervision Agency (BDDK) and the Competition Board.

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.