Competitive Landscape (Card Issuers in The Country) For Both Debit Cards & Credit Cards Turkish In Cards and Payments Market

The report includes the market size and forecast of the Turkish cards and payments market for the period 2012 to 2020 (in terms of number of cards, value and volume of transactions processed through these cards), along with the key industry trends, major schemes, banks and card market by customer segments. The report also includes competitive landscape (card issuers in the country) for both debit cards and credit cards.


In Turkey, the debit cards dominate the total card payments market in terms of number of cards in circulation. In 2014, debit cards accounted for 65.2% of total cards in circulation. Debit card also dominated the Turkish card payments market in terms of number of transactions and value of transactions. By scheme, Visa dominates the number of debit cards in circulation, followed by MasterCard in 2014.


The prepaid cards segment in terms of number of cards recorded a growth of 21.5% during the period 2010 to 2014 and is anticipated to continue to grow at CAGR of 7.7% over the period 2015 to 2020.
In September 2015, InterBank Card Center (BKM) announced the launch of a new electronic card payment clearing system "TROY” and is expected to be operational in 2016.



As part of the TROY system, customers card payments will be processed by the merchant and then completed through a clearing network supported by the BKM. Visa and MasterCard were previously the companies of choice for this operation. Customers will be charged a fee for using the TROY payment system, but as per BKM it will be lower than the fees charged by international card networks such as MasterCard and Visa.

Some of the key players in the Turkish debit card market include Ziraat, VakifBank, Yapı Kredi, Garanti and Finansbank. The key players in the credit card market include Yapı Kredi, Garanti, Finansbank, Ziraat and VakifBank. Yapı Kredi was the leading bank in credit card segment in 2014, in credit cards in circulation.
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