“Payments Landscape in Turkey: Opportunities and Risks to 2022”, 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 cards, credit transfers, and cheques during the review-period (2014-18e).
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 (2018e-22f). It also offers information on the country’s competitive landscape, including market shares of issuers and schemes.
The report brings together GlobalData’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.
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The 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 cards, credit transfers, and cheques. It also, includes an overview of the country’s key alternative payment instruments.
– E-commerce 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.
– To increase competition in the Turkish payment card market, Interbank Card Center (BKM) introduced a domestic payment card scheme, Turkey’s Payment Method (Troy), in April 2016. Troy is currently partnered with 26 banks to offer Troy-branded debit and credit cards in the country. Troy’s processing fee is lower than its competitors, making it more viable for small retailers to accept cards, boosting overall card acceptance in the process. For international acceptance of Troy payment cards, BKM signed a contract with Discover in June 2017. The agreement enables Troy payment card holders to conduct transactions globally over the Discover Global Network. The agreement also enables acceptance of Discover and Diners Club payment cards in Turkey at all locations where Troy is accepted.
– To curb rising consumer credit card debt, the Turkish government increased the maximum monthly credit card interest rate limit. The monthly maximum contractual interest rate for the Turkish lira was increased from 1.84% in 2017 to 2.02% in 2018, whereas for foreign exchange it was increased from 1.47% in 2017 to 1.62% in 2018. The maximum monthly overdue interest rate was also increased from 2.34% in 2017 to 2.52% in 2018 for Turkish lira, and from 1.97% in 2017 to 2.12% in 2018 for foreign exchange. The changes came into effect from July 1, 2018.
– To help Chinese tourists make electronic payments, UnionPay International signed an agreement with Yapi Kredi in June 2018. As per the agreement, Chinese tourists visiting Turkey can use their UnionPay cards to make payments at 350,000 in-store merchants and 2,000 online Yapi Kredi merchants. They can also withdraw funds at the bank’s 4,000 ATMs. In 2018, approximately 400,000 Chinese tourists are expected to visit Turkey. This collaboration will help Yapi Kredi attract more users and thus boost the overall Turkish payment card market.
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 Turkey.
– Gain insights into key regulations governing the Turkish cards and payments industry.
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