Dublin, December 31, 2020 (GLOBE NEWSWIRE) – Added to report “Turkey Cards and Payments – Opportunities and Risks to 2024” ResearchAndMarkets.com’s offering.
The report provides an analysis of market trends in the Turkish card and payments industry. It provides values and dimensions for a number of key performance indicators in the industry, including cards, credit transfers, and reviews during the review period (2016-20e).
The report also analyzes a number of payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, trade values and volumes during the review period and over the projected period (2020e-24pm). It also provides information on the country’s competitive landscape, including distributor market segments and schemes.
The report also addresses details of management policy and recent changes in the governance structure.
This report provides high-level market analysis, information and insights on the Turkish card and payments industry, including –
- Normal and projected values for all markets in the Turkish card and payments industry, including debit and credit cards.
- Detailed views of payment instruments including cards, credit transfers, and checks. It also includes an overview of the country’s major payment instruments.
- E-commerce market analysis.
- Analysis of various market drivers and regulations governing the Turkish card and payments industry.
- A detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
Scope of the report:
- Turkey’s payment market aims to be cashless by 2023. To this end, Turkish financial authorities are launching various initiatives to manage electronic payments, including a standard national QR code with the is called the Turkish QR Code in August 2020. Meanwhile, the TROY domestic card scheme was introduced in April 2016. Such initiatives have led to a dramatic growth in the payment space during the review period.
- Awareness and use of contactless payment cards in Turkey is high, with the number of contactless payment cards rising from 30.6 million in 2016 to 89.6 million in 2020 at a strong review period CAGR of 30.8%. This figure is expected to rise further to 176.3 million by 2024. The wide acceptance network for offline payments is driving this market.
- COVID-19 has led to a loss of revenue and earnings and a decline in consumer spending, affecting the credit card market. In response, in April 2020 the Central Bank of the Republic of Turkey reduced the maximum interest rate on a credit card loan to 1.25% per month, down from 1.60% in Q4 2019. The reduced rate will be effective until further assessments are made. done by the central bank. Similarly, in March 2020 the central bank reduced the minimum payment rate for credit cards from 30% to 20%.
Key topics covered:
- Payment instruments
- Card based payments
- Buy a buyer
- E-commerce payments
- Buy now pay later
- Payments close to mobile
- P2P Payments
- Bill Payments
- Other payments
- Job analysis
- Pay innovation
- Payment Infrastructure & Management
Companies mentioned
- Ziraat Bank
- Banca Vakif
- DenizBank
- Halkbank
- Visa
- Mastercard
- TROY
- American Express
- BKM Express
- Papara
- Paycell
- Wallet Yapi Kredi
- payment card
- Bonuspay
- Masterpass
For more information about this report, visit https://www.researchandmarkets.com/r/p0xdby
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We bring you the latest data on international and regional markets, key industries, major companies, new products and the latest trends.
Research and Markets also offers Custom Search services providing targeted, complete and unique search.
CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900