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Financial cards and payments in 2024: The big picture
Financial card and payment transactions in Turkey continued to witness steady growth in 2024. Card spending strengthened as consumers switched away from cash amid greater dependability on credit cards due to rising living costs.
2024 key trends
In 2024, the financial cards and payments landscape in Turkey witnessed a marked acceleration in the adoption of digital wallets and mobile payments. The ubiquity of smartphones and the convenience of having a “bank in your pocket” have increasingly made digital wallets a popular choice among consumers.
E-commerce growth boosts credit card transaction
In the year 2024 Turkish consumers shifted towards buying cheaper products online due to lower purchasing power and high inflation. The availability of regular discounts, a wider range of sizes and brands, and comparable prices has sparked further consumer interest in online shopping.
Competitive landscape
The competitive landscape in financial cards and payments is in a state of flux in Turkey. Mastercard's investments in Turkey have increased over the review period, with the country now at the centre of its Eastern European operations.
What next for financial cards and payments?
Credit card growth is expected to outpace debit cards over the forecast period, primarily due to consumers' increasing reliance on credit. The new credit card regulations introduced in 2024 aim to ensure that credit card users in Turkey are part of a more secure, transparent, and sustainable financial system.
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Overview:
Understand the latest market trends and future growth opportunities for the Financial Cards and Payments 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 Financial Cards and Payments 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 Financial Cards and Payments 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 Financial Cards and Payments in Turkey?
- What are the major trends key to understanding Financial Cards and Payments 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?
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?
Table 1 Number of POS Terminals: Units 2019-2024
Table 2 Number of ATMs: Units 2019-2024
Table 3 Value Lost to Fraud 2019-2024
Table 4 Card Expenditure by Location 2024
Table 5 Financial Cards in Circulation by Type: % Number of Cards 2019-2024
Table 6 Domestic versus Foreign Spend 2024
Table 7 Financial Cards by Category: Number of Cards in Circulation 2019-2024
Table 8 Financial Cards by Category: Number of Accounts 2019-2024
Table 9 Financial Cards Transactions by Category: Value 2019-2024
Table 10 Financial Cards by Category: Number of Transactions 2019-2024
Table 11 Consumer Payments by Category: Value 2019-2024
Table 12 Consumer Payments by Category: Number of Transactions 2019-2024
Table 13 M-Commerce by Category: Value 2019-2024
Table 14 M-Commerce by Category: % Value Growth 2019-2024
Table 15 Financial Cards: Number of Cards by Issuer 2019-2023
Table 16 Financial Cards: Number of Cards by Operator 2019-2023
Table 17 Financial Cards: Card Payment Transactions Value by Operator 2019-2023
Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2019-2023
Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2024-2029
Table 20 Forecast Financial Cards by Category: Number of Accounts 2024-2029
Table 21 Forecast Financial Cards Transactions by Category: Value 2024-2029
Table 22 Forecast Financial Cards by Category: Number of Transactions 2024-2029
Table 23 Forecast Consumer Payments by Category: Value 2024-2029
Table 24 Forecast Consumer Payments by Category: Number of Transactions 2024-2029
Table 25 Forecast M-Commerce by Category: Value 2024-2029
Table 26 Forecast M-Commerce by Category: % Value Growth 2024-2029
DISCLAIMER
Summary 1 Research Sources
Credit Cards in Turkey - Category analysis
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
Table 27 Credit Cards: Number of Cards in Circulation 2019-2024
Table 28 Credit Cards Transactions 2019-2024
Table 29 Credit Cards in Circulation: % Growth 2019-2024
Table 30 Credit Cards Transactions: % Growth 2019-2024
Table 31 Commercial Credit Cards: Number of Cards in Circulation 2019-2024
Table 32 Commercial Credit Cards Transactions 2019-2024
Table 33 Commercial Credit Cards in Circulation: % Growth 2019-2024
Table 34 Commercial Credit Cards Transactions: % Growth 2019-2024
Table 35 Personal Credit Cards: Number of Cards in Circulation 2019-2024
Table 36 Personal Credit Cards Transactions 2019-2024
Table 37 Personal Credit Cards in Circulation: % Growth 2019-2024
Table 38 Personal Credit Cards Transactions: % Growth 2019-2024
Table 39 Credit Cards: Number of Cards by Issuer 2019-2023
Table 40 Credit Cards: Number of Cards by Operator 2019-2023
Table 41 Credit Cards Payment Transaction Value by Issuer 2019-2023
Table 42 Credit Cards Payment Transaction Value by Operator 2019-2023
Table 43 Commercial Credit Cards: Number of Cards by Issuer 2019-2023
Table 44 Commercial Credit Cards: Number of Cards by Operator 2019-2023
Table 45 Commercial Credit Cards Payment Transaction Value by Issuer 2019-2023
Table 46 Commercial Credit Cards Payment Transaction Value by Operator 2019-2023
Table 47 Personal Credit Cards: Number of Cards by Issuer 2019-2023
Table 48 Personal Credit Cards: Number of Cards by Operator 2019-2023
Table 49 Personal Credit Cards Payment Transaction Value by Issuer 2019-2023
Table 50 Personal Credit Cards Payment Transaction Value by Operator 2019-2023
Table 51 Forecast Credit Cards: Number of Cards in Circulation 2024-2029
Table 52 Forecast Credit Cards Transactions 2024-2029
Table 53 Forecast Credit Cards in Circulation: % Growth 2024-2029
Table 54 Forecast Credit Cards Transactions: % Growth 2024-2029
Table 55 Forecast Commercial Credit Cards: Number of Cards in Circulation 2024-2029
Table 56 Forecast Commercial Credit Cards Transactions 2024-2029
Table 57 Forecast Commercial Credit Cards in Circulation: % Growth 2024-2029
Table 58 Forecast Commercial Credit Cards Transactions: % Growth 2024-2029
Table 59 Forecast Personal Credit Cards: Number of Cards in Circulation 2024-2029
Table 60 Forecast Personal Credit Cards Transactions 2024-2029
Table 61 Forecast Personal Credit Cards in Circulation: % Growth 2024-2029
Table 62 Forecast Personal Credit Cards Transactions: % Growth 2024-2029
Debit Cards in Turkey - Category analysis
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
Table 63 Debit Cards: Number of Cards in Circulation 2019-2024
Table 64 Debit Cards Transactions 2019-2024
Table 65 Debit Cards in Circulation: % Growth 2019-2024
Table 66 Debit Cards Transactions: % Growth 2019-2024
Table 67 Debit Cards: Number of Cards by Issuer 2019-2023
Table 68 Debit Cards: Number of Cards by Operator 2019-2023
Table 69 Debit Cards Payment Transaction Value by Issuer 2019-2023
Table 70 Debit Cards Payment Transaction Value by Operator 2019-2023
Table 71 Forecast Debit Cards: Number of Cards in Circulation 2024-2029
Table 72 Forecast Debit Cards Transactions 2024-2029
Table 73 Forecast Debit Cards in Circulation: % Growth 2024-2029
Table 74 Forecast Debit Cards Transactions: % Growth 2024-2029
Pre-Paid Cards in Turkey - Category analysis
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
Table 75 Pre-paid Cards: Number of Cards in Circulation 2019-2024
Table 76 Pre-paid Cards Transactions 2019-2024
Table 77 Pre-paid Cards in Circulation: % Growth 2019-2024
Table 78 Pre-paid Cards Transactions: % Growth 2019-2024
Table 79 Closed Loop Pre-paid Cards Transactions 2019-2024
Table 80 Closed Loop Pre-paid Cards Transactions: % Growth 2019-2024
Table 81 Open Loop Pre-paid Cards Transactions 2019-2024
Table 82 Open Loop Pre-paid Cards Transactions: % Growth 2019-2024
Table 83 Pre-paid Cards: Number of Cards by Issuer 2019-2023
Table 84 Pre-paid Cards: Number of Cards by Operator 2019-2023
Table 85 Pre-paid Cards Transaction Value by Issuer 2019-2023
Table 86 Pre-paid Cards Transaction Value by Operator 2019-2023
Table 87 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2019-2023
Table 88 Closed Loop Pre-paid Cards: Number of Cards by Operator 2019-2023
Table 89 Closed Loop Pre-paid Cards Transaction Value by Issuer 2019-2023
Table 90 Closed Loop Pre-paid Cards Transaction Value by Operator 2019-2023
Table 91 Open Loop Pre-paid Cards: Number of Cards by Issuer 2019-2023
Table 92 Open Loop Pre-paid Cards: Number of Cards by Operator 2019-2023
Table 93 Open Loop Pre-paid Cards Transaction Value by Issuer 2019-2023
Table 94 Open Loop Pre-paid Cards Transaction Value by Operator 2019-2023
Table 95 Forecast Pre-paid Cards: Number of Cards in Circulation 2024-2029
Table 96 Forecast Pre-paid Cards Transactions 2024-2029
Table 97 Forecast Pre-paid Cards in Circulation: % Growth 2024-2029
Table 98 Forecast Pre-paid Cards Transactions: % Growth 2024-2029
Table 99 Forecast Closed Loop Pre-paid Cards Transactions 2024-2029
Table 100 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2024-2029
Table 101 Forecast Open Loop Pre-paid Cards Transactions 2024-2029
Table 102 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2024-2029
The following categories and subcategories are included:
Financial Cards and Payments
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- ATM Cards
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- Commercial Charge Cards
- Personal Charge Cards
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- Commercial Credit Cards
- Personal Credit Cards
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- Commercial Debit Cards
- Personal Debit Cards
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- Closed Loop Pre-Paid Cards
- Open Loop Pre-Paid Cards
- Store Cards
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- ATM Transactions
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- Commercial Charge Card Transactions
- Personal Charge Card Transactions
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- Commercial Credit Card Transactions
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- Average Personal Credit Card Balance
- Average Personal Credit Card Limit
- Personal Credit Card Utilisation
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- Commercial Debit Card Transactions
- Personal Debit Card Transactions
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- Closed Loop Pre-Paid Card Transactions
- Open Loop Pre-Paid Card Transactions
- Store Card Transactions
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- Commercial Card Payment Transactions
- Commercial Electronic Direct/ACH Transactions
- Commercial Paper Payment Transactions
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- Personal Card Payment Transactions
- Personal Electronic Direct/ACH Transactions
- Personal Paper Payment Transactions
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- Commercial Electronic Direct/ACH Transactions
- Personal Electronic Direct/ACH Transactions
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- Commercial Cash Transactions
- Commercial Other Paper Transactions
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- Personal Cash Transactions
- Personal Other Paper Transactions
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- Mobile Proximity Payments
- Mobile Remote Payments
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Financial Cards and Payments
Payments are tracked based on the country of residence / account issuance and include outbound spend while excluding inbound spend.
See all of our definitions
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This report originates from Passport, our Financial Cards and Payments research and analysis database.
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