COMPETITIVE LANDSCAPE
Visa’s broad infrastructure and continuous innovation ensure it remains at the forefront of the credit card market
Visa Inc maintained its position as the leading operator in credit cards in Turkey, supported by several key factors. Its widespread partnerships with major Turkish banks ensured that Visa-branded cards are widely distributed and accepted across the country.
With a focus on security, digital innovation, and added-value services, Yapi ve Kredi Bankasi is the leading issuer
Yapi ve Kredi Bankasi AS remained the leading issuer in the credit card category in Turkey, supported by its well-established brand, extensive customer base, and strong focus on innovation and customer engagement. The bank has long been associated with its flagship credit card brand, Worldcard, which offers a wide range of benefits, such as flexible instalment plans, extensive merchant partnerships, loyalty points (Worldpuan), and frequent promotional campaigns.
Isbank’s dynamism driven by its innovation, broad customer reach, and strong digital transformation
Turkiye Is Bankasi AS (Isbank), meanwhile, was the most dynamic issuer overall in 2024, driven by its strategic blend of innovation, broad customer reach, and strong digital transformation. The bank actively expanded its credit and debit card portfolio with products tailored to different consumer segments, including young professionals, families, and small businesses.
Mastercard expands its presence through collaborations and investing in advanced payment technologies
Mastercard International Inc was the most dynamic operator in credit cards in Turkey in 2024, primarily due to its strategic alignment with the country’s rapidly digitalising financial ecosystem and evolving consumer preferences. The company successfully expanded its market presence through strong partnerships with leading Turkish banks, offering co-branded credit card products tailored to a wide range of customer segments.
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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
Consumers increasingly rely on credit cards to manage daily expenses and preserve purchasing power
Expansion in the banked population and high inflation ensure broader credit card ownership
Growth of e-commerce and mobile phone-based payments accelerate credit card usage
Further expansion supported by a well-established and technologically advanced banking infrastructure
Premium cards cater to consumers seeking a more tailored and value-added banking experience
Issuers that can offer enhanced security, integrated digital experiences, and tailored value-added services will be better positioned to succeed
Visa’s broad infrastructure and continuous innovation ensure it remains at the forefront of the credit card market
With a focus on security, digital innovation, and added-value services, Yapi ve Kredi Bankasi is the leading issuer
Isbank’s dynamism driven by its innovation, broad customer reach, and strong digital transformation
Mastercard expands its presence through collaborations and investing in advanced payment technologies
Debit Cards in Turkey - Category analysis
Debit Cards in Turkey - Company Profile
KEY DATA FINDINGS
Strong growth as consumers increasingly choose debit cards over cash
Behavioural shift driven by the ease and speed of contactless debit card payments
Banks support growth through tailored loyalty campaigns and emphasising the security advantages of debit card transactions
Further growth with banks increasingly promoting debit cards
Evolution of security of debit card payments
Students to play an increasingly important role in the future of debit card adoption
Visa’s broad infrastructure and continuous innovation ensures it maintains its position as the leading operator
Ziraat Bank’s lead driven by its broad reach and strategic innovation
Accessible pricing, seamless digital integration, and robust security fuel dynamic growth of HSBC
Mastercard strengthens its position through continuous innovation and strong partnerships with banks
Pre-Paid Cards in Turkey - Category analysis
Pre-Paid Cards in Turkey - Company Profile
KEY DATA FINDINGS
Widespread appeal of pre-paid options
E-commerce expansion fuels strong growth of open loop cards
Changing consumer behaviour and tourism boost demand for pre-paid cards
Continued innovation and digitisation of pre-paid lunch cards
Omnichannel and mobile-first strategies central to the expansion and modernisation of the pre-paid card market
Pre-paid cards are a practical and accessible financial tool for younger consumers
Belbim leads closed loop pre-paid cards with its wide and loyal user base
Innovation, strong local partnerships, and wide acceptance network ensure Mastercard maintains its lead in open loop pre-paid cards
Belbim broadens the range of services that can be accessed with its Istanbulkart
Papara capitalises on the growing demand for alternative financial services that are faster, more flexible, and more accessible than traditional banking
Financial Cards and Payments in Turkey - Industry Overview
Ongoing shift toward digital and credit-based solutions
KEY DATA FINDINGS
Strong growth with consumers increasingly relying on credit cards
Digital wallets and mobile payment solutions gain even more traction
Expansion of e-commerce plays a significant role in boosting credit card transactions
New credit card regulations aim to create a more secure, transparent, and sustainable financial environment
Increasing reliance on credit to manage daily expenses amid economic uncertainty
Rise of eco-conscious financial products
Turkiye Cumhuriyeti Ziraat Bankasi leads, enjoying an extensive customer base and strong reputation
Visa benefits from its strong global reputation, robust security infrastructure, and early adoption of innovative technologies
American Express’ growth driven by its strategic positioning in the premium and digitally engaged consumer segments
Papara Elektronik Para ve Ödeme Hizmetleri successfully positions itself as a modern, flexible, and accessible financial solution
COUNTRY REPORTS 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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