PROSPECTS AND OPPORTUNITIES
Credit card debt likely to reduce over the forecast period
Credit card ownership is already very high in Turkey by global standards due to Turkey's developed banking infrastructure. The expected stabilisation of inflation and improved economic conditions may lead to improved consumer confidence and spending, with credit card debt likely to reduce.
Credit cards shift towards secure and digital payments
Consumers are demanding more secure and technologically advanced financial products in Turkey. Credit card issuers are confronted with the imperative of adapting to these evolving preferences, all while upholding the traditional values of trust and reliability.
Rise of exclusive services is attractive to affluent consumers
Another emerging trend in credit cards is the rise of subscription-based or premium credit cards that offer a suite of specific services including extra miles, travel insurance, airport lounge access and personal concierge services. As consumers increasingly seek personalised and premium experiences, these types of credit cards are gaining popularity.
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Overview:
Understand the latest market trends and future growth opportunities for the Credit Card Transactions industry in Turkey with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Credit Card Transactions industry in Turkey, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Credit Card Transactions in Turkey report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Credit Card Transactions in Turkey?
- What are the major trends key to understanding Credit Card Transactions in Turkey?
- How has COVID-19, recession and macroeconomic volatility impacted the market?
- How long will the market take to recover? What are the opportunities now?
- How will political context and shifting cultural values shape future growth?
- Where is future growth expected to be most dynamic?
Credit Cards in Turkey - Category analysis
Credit Cards in Turkey - Company Profile
KEY DATA FINDINGS
Rising number of credit cards and transactions
Credit cards take on personal consumer loans
Extensive new credit card regulations emerge in 2024
Credit card debt likely to reduce over the forecast period
Credit cards shift towards secure and digital payments
Rise of exclusive services is attractive to affluent consumers
Debit Cards in Turkey - Category analysis
Debit Cards in Turkey - Company Profile
KEY DATA FINDINGS
Solid growth momentum for debit cards in Turkey
Security measures are a key focus in 2024
Debit cards have become increasingly popular on campus
Promotion of debit cards alongside credit applications will support category growth
Debit card accounts with small credit balances attract consumers
Higher debit card usage among younger generations
Pre-Paid Cards in Turkey - Category analysis
Pre-Paid Cards in Turkey - Company Profile
KEY DATA FINDINGS
Growth in open loop pre-paid cards linked to retail e-commerce
Shift towards more conscious spending habits supports pre-paid cards
Pre-paid transportation cards driven by tourism and public sector expenditure cuts
Lunch pre-paid cards are deemed a cost-effective solution
Usage of open loop pre-paid cards will rise among youth
Smartphones will be integral to driving growth within digital payments
Financial Cards and Payments in Turkey - Industry Overview
Financial cards and payments in 2024: The big picture
2024 key trends
E-commerce growth boosts credit card transaction
Competitive landscape
What next for financial cards and payments?
DISCLAIMER
The following categories and subcategories are included:
Credit Card Transactions
- Commercial Credit Card Transactions
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- Average Personal Credit Card Balance
- Average Personal Credit Card Limit
- Personal Credit Card Utilisation
Credit Card Transactions
Credit cards allow for purchases against a preapproved line of credit. The account holder has the choice of whether to pay off the entire balance each month or opt for monthly instalments with the balance serving as revolving credit. If the cardholder decides to revolve a balance, the consumer pays interest. Credit cards can include affinity cards, reward cards and types of co-branded cards. Co-branded retailer cards—issued by retailers acting as financial institutions and without usage restrictions—are included in this category. Cards issued by a retailer with usage limited to a specific store within a predefined retail group fall under the store cards definition. Debit cards with an overdraft function are not counted as cards with a credit function. Payments are tracked based on the country of residence / account issuance and include outbound spend while excluding inbound spend.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Credit Card Transactions research and analysis database.
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