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Turkey Cards and Payments Market Outlook to 2023 – Rapid Acceptance of TROY Cards and Contactless Cards Coupled with Rising Penetration of Credit Cards to Drive Market Growth

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The report titled "Turkey Cards and Payments Market Outlook to 2023 - Rapid Acceptance of TROY Cards and Contactless Cards Coupled with Rising Penetration of Credit Cards to Drive Market Growth" provides a comprehensive analysis on the cards and payments industry covering various aspects including the introduction and genesis, market size of debit and credit card by value and volume of transaction, number of cards in circulation and average transaction size, segmentation by domestic transactions by domestic card, International transactions with domestic cards, domestic transactions with international cards, further segmented into cash withdrawals and shopping purchases. It also covers market challenges, growth drivers, trends and developments, issues, comparative landscape in cards and payments market by issuer and operator and regulatory framework of the industry. The report concludes with market projections and analyst recommendations highlighting major opportunities and cautions.

Turkey Cards and Payments Market Overview and Size

The credit and debit card business of Turkey has witnessed strong growth owing to increasing value of transactions, volume of transaction and cards in circulation.  The debit card value of transaction grew at a rate faster than that of credit cards, even when both posed double digit growth rate. Adoption of specific payment methods in Turkey will inevitably be influenced by the fact that a large proportion of Turkish citizens remains without a bank account – just over a third of the population is unbanked. The use of cash is particularly prevalent for micropayments including the small and daily expenditures such as newspapers, taxi journeys and coffees. The payments industry of Turkey will have to work hard to mitigate Turkish shoppers over to digital methods of paying for these items.

Turkey Card Market Segmentation

Domestic Transaction with Domestic Credit Card (Cash Withdrawals and Shopping Purchases): Volume of domestic transaction with domestic credit card witnessed 4 year CAGR of 4.8% and 8.7% for cash withdrawals and shopping purchases respectively during 2014-2018. However, the Value of domestic transaction with domestic credit card witnessed a four year CAGR for cash withdrawals and shopping purchases of 14.4% and 12.3% respectively. This happened majorly due to higher value of transaction on limited or same number of credit card transactions.

International Transaction with Domestic Credit Card (Cash Withdrawals and Shopp-ing Purchases): Volume of International transactions using a domestic credit card peaked to an all-time high in 2018, with a four year CAGR (2014-2018) of 15.7%. The volume of cash withdrawals on international transaction using domestic credit card reported a negative four year CAGR (2014-2018) of -2.9% as the transaction fee levied by ATMs is very high, because of which cardholders have preferred shopping purchases over cash withdrawals.  Consumer familiarity with credit cards has increased and cards are often the preferred means of meeting credit needs of Turkish consumers and play a valuable role in domestic financial management, by making installment purchases with their cards for the things they cannot pay in one go.

Domestic Transaction with International Credit Cards (Cash withdrawals and Shopping Purchases): The volume and value of domestic transaction with international credit card is growing at a rapid four year CAGR of 24.9% and 20.4% respectively. This shows a lot of growing potential in international credit card business.

Domestic Transaction with Domestic Debit Card (Cash withdrawals and Shopping Purchases): Volume of domestic transaction with domestic debit card witnessed a four year CAGR of 7.8% and 25.8% for cash withdrawals and shopping purchases respectively. On the other hand, the Value of domestic transaction with domestic debit card witnessed a four year CAGR for cash withdrawals and shopping purchases of 16.3% and 35.0% respectively. The value of shopping purchases showed an exorbitant growth because debit card holders are in the process of majorly switching from cash withdrawals to direct merchant swipes.

International Transaction with Domestic Debit Card (Cash withdrawals and Shopping Purchases): Volume of International transactions using a domestic debit card peaked to an all-time high in 2018, with a four year CAGR (2014-2018) of 47.1%. The volume of cash withdrawals on international transaction using domestic credit card reported a single four year CAGR (2014-2018) of only 5.9% as the foreign exchange rate fluctuations come into picture, because of which cardholders have preferred shopping purchases over cash withdrawals. 

Domestic Transaction with International Debit Card (Cash withdrawals and Shopping Purchases): The international travelers are spending more in Turkey on business trips or tourism. The volume and value of domestic transaction with international debit card is growing at rapid four year CAGR of 28.7% and 39.9% respectively during 2014-2018. Rising incomes and economic stability in recent years however has started to turn the tide in debit card use. In line with most European banking markets, debit cards are issued in conjunction with a bank account and were primarily used for cash withdrawal, serving as a cost-efficient alternative for branch-based cash withdrawals.

Average Value of Transaction for Debit and Credit Card: Since the citizens of Turkey are mediocre risk takers hence, they prefer to do less of credit card transactions. It has been observed that the average value of transaction on debit card has been higher than credit card.

Comparative Landscape in Turkey Cards and Payments Market

The card market in Turkey was moderately concentrated with presence of major banks capturing a larger market share and other handful of banks which do not have a dedicated cards business. The cards market is further segmented in debit and credit cards. Turkey market has fierce competition, i.e., the credit card players have been highly competitive and experimental in product offerings and follow business strategies to expand their reach to untapped audience and retain existing clients. On the other hand, the debit card market was also observed to be competitive as the players are highly prone to lose out market share because of continuous technological advancement in the financial technologies leading to obsolescence of existing technologies. The players continuously tend to develop new technologies and keep in increasing their network with member merchants in order capture more and more target audience. The major parameters on the basis of which they compete are technological advancement- financial technology such as faster transaction service provider, contactless card, virtual cards, chip and pin enabled cards, reward points and benefits on shopping limits, personalized banking services and customer support.

Turkey Cards and Payments Market Future Outlook and Projections

Credit Cards: The overall credit card market future by volume of card in circulation is expected to rise at a slow growth rate due to time taken by people to subscribe for a credit card is comparatively high. The volume and value of credit card transaction is expected to surge at a pace higher than the previous five years because of the increased spending limits, better reward point program and technological advancement leading to ease of doing transactions.

Debit Cards: The overall debit card market by volume and value of transaction is expected to get double by 2023. The growth rate projected is higher than the credit cards due faster adaptability of debit cards in the economy. Also, as and when the untapped population actively participates in the economic activity, they would be first exposed to bank cards instead of credit cards leading to surge in value and volume of debit card transaction in next five years.

Key Segments Covered

  • Credit cards
    • Value of transaction
    • Volume of transaction
    • Number of Credit card in circulation
    • Domestic Transaction Using Domestic Credit Card
    • International Transaction Using Domestic Credit Card
    • Domestic Transaction using International Credit Card
    • Sectoral Spending
  • Debit Cards
    • Value of transaction
    • Volume of transaction
    • Number of Debit card in circulation
    • Domestic Transaction Using Domestic Debit Card
    • International Transaction Using Domestic Debit Card
    • Domestic Transaction using International Debit Card
    • Sectoral Spending

Key Target Audience

  • Credit/ Debit Card Operator
  • Credit/ Debit Card Issuers
  • Prepaid Card Issuers/ Operators 
  • Local/ Foreign Bank
  • Reward/ Loyalty Program Business Operators
  • Payment gateway provider
  • Credit/ Debit Card Issuer
  • POS Device Manufacturers
  • Debit/ Credit Card Manufacturing companies
  • ATM Manufacturing Entities
  • Investors

Time Period Captured in the Report:

  • Historical Period: 2014-2018
  • Forecast Period: 2019-2023

Companies Covered in Turkey Card Market:

  • Issuers
    • Turkiye Cumhuriyeti Ziraat Bankasi AS
    • Turkiye Vakiflar Bankasi TAO
    • Turkiye Halk Bankasi AS
    • Denizbank
    • Yapi ve Kredi Bankasi AS
    • Turkiye Is Bankasi AS (Is bank)
    • Garanti Bankasi AS
    • Ak bank TAS
    • Finansbank AS
    • TEB AS
    • Seker Bankasi AS
    • HSBC Bank AS
    • Citigroup Inc
  • Operators
    • Visa Inc
    • MasterCard International Inc
    • American Express Co
    • Troy

Key Topics Covered in the Report

  • Stake Holders in Turkey Card Market
  • Genesis of Turkey Card Market
  • Credit and Debit Card Coverage
    • Market Size by Number of Cards in Circulation (2014-2018)
    • Market Size by Value of Transaction (2014-2018)
    • Market Size by Volume of Transactions (2014-2018)
  • Market Segmentation of Turkey Cards Market (2014-2018) on Cash Withdrawals and Shopping Purchases
  • Sectoral Spending by Debit and Credit Card (2018)
    • Volume of Transaction
    • Value of Transaction
  • Growth Drivers, Trends and Developments in Turkey Card Market
  • Issues and Challenges in Turkey Card Market
  • Competition Scenario in Turkey Card Market
  • Turkey Card Market Future Outlook and Projections, 2019-2023  
  • Analyst Recommendations

Contact Us: 

Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

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Table Of Content

Scope

1. Executive Summary
Market Size and Overview
Market Segmentation
Competitive Analysis
Future Outlook and Projections

2. Research Methodology
2.1. Market Definitions
2.2. Abbreviations
2.3. Market Size and Modeling
Consolidated Research Approach
Market Sizing Turkey Card Market
Variables (Dependent and Independent)
Multi Factor Based Sensitivity Model for Credit Card Market
Multi Factor Based Sensitivity Model for Debit Card Market
Regression Matrix- Credit Card Market by Value of Transaction
Limitations-Credit Card Market by Value of Transaction
Final Conclusion- Credit Card Market
Regression Matrix- Debit Card Market by Value of Transaction
Limitations- Debit Card Market by Value of Transactions
Final Conclusion- Debit Card Market

3. Stakeholders in the Turkey Card Market (including list of major debit card and credit card issuer and operators, 2018)
3.1. Card Issuer Side (Entity, Number of Entities in the Ecosystem and Major Players)
3.2. Card Operator Side (Entity, Number of Entities in the Ecosystem and Major Players)

4. Genesis of Credit and Debits Cards
4.1. Incubation Phase
Launch of Turkey’s First Credit Card
Inception of Interbank card center
4.2. Infrastructure phase (including stakeholders in business cycle of EMV Migration)
Introduction of Contactless card
Full chip and pin migration
4.3. Digital Phase (including Comparative Analysis on the Basis of Mobile Device Owners Using Mobile Payments)
Launch of first national digi wallet
Online Payments (including Number of Unique Debit and Credit Cards used for Online Payments and Turkey Distribution of Online Payment by Payment Amount Range)
Contactless Cards (including transaction volume and value, 2016-2018)
Troy card

5. Comparison of Turkey Cards Market with European Cards Market
Debit Card Ownership Rate
Debit and Credit Cards in Circulation
Number of POS and ATM Terminals in Circulation
Country Based Payment Transactions
Region Wise Card Distribution in turkey

6. Operating Model (Flowchart, Fees for Various Revenue Streams for Issuer Bank Including Annual Charges, Shopping Interest Rate, Cash Withdrawal Interest Rate, Cash Advance Fee (Same Bank), Card Renewal Fee, Card Printing and Shipping Fee, Overseas Transaction and Delay Interest; and Payment Card Transaction Flow Structure)

7. Credit Card Coverage
7.1. Market Size (Cards in Circulation, Transaction Value and Transaction Volume), 2014-2018
Number of Credit Cards in Circulation, 201-2018
Credit card Transaction Volume, 2014-2018
Credit Card Transaction value, 2014-2018
Credit Card Average Value of Transaction, 2014- 2018
Sector wise Credit Card Spending, 2018
Number of POS Machines in Turkey
Volume and Transaction Value per Month per Active Credit Card
7.2. Market Segmentation, 2014-2018
7.2.1. By Value of transaction, Volume of Transaction, Cash Withdrawals and Shopping Purchases, 2014-2018
Domestic Transaction Value and Volume - Domestic Credit Card, 2014-2018
International value and volume of transaction- Domestic Credit Card
Domestic and International Transaction Value using a Domestic credit card
Market Segmentation of Cash Withdrawal and Shopping Purchases on Volume and Value
Market Segmentation of Cash Withdrawal and Shopping Purchases on Volume and Value - Domestic Transaction with Domestic Credit Card
Market Segmentation of Cash Withdrawal and Shopping Purchases on Volume and Value – International Transaction with Domestic Credit Card
Market Segmentation of Cash Withdrawal and Shopping Purchases on Volume and Value – Domestic Transaction with International Credit Card
7.2.2. Segment Breakdown of Credit Card
7.3. Competition Landscape
7.3.1. Revenue Streams in a Credit Card System (Revenue Sources for a Credit Card Issuer - Issuing Bank, Revenue Sources for an Acquiring Bank and Revenue Sources for a Payment Operator)
7.3.2. Revenue Stream and Requirements for American Express Credit Cards
7.3.3. Competition Scenario by Issuer (Competition Stage, Revenue Streams, Company Position, Competing Parameters, Revenue Earned by Banks from Credit Cards issued in Turkey and Business Model)
7.4. Market Share of Major Credit Card Operators by Number of Cards in Circulation, 2018 (including strengths and weaknesses)
7.5. Market Share of Major Credit Card Operators by Value of Transaction, 2018 (including customer acquisition strategies)
7.6. Future Outlook and Projections, 2018– 2023

8. Debit Card Coverage
8.1. Market Size (Number of Cards in Circulation, By Transaction Value and By Volume of Transaction, 2014-2018
Number of Debit Cards in Circulation
Debit Card Transaction Volume, 2014-2018
Debit Card Transaction Value, 2014-2018
Debit Card average value of transaction, 2014- 2018
Sector wise credit card spending, 2018
Number of ATM Terminals in Turkey
Transactions per Active Debit Card
Debit Card Transaction Ticket Size
8.2. Market Segmentation, 2014-2018
8.2.1. By Value of transaction, Volume of Transaction, Cash Withdrawals and Shopping Purchases, 2014-2018
Domestic Transaction Value and Transaction Volume - Domestic Debit Card, 2014-2018
International Transaction Value and Transaction Volume- Domestic Debit Card
Domestic And International Value and Transaction Volume using A Local Debit Card
Market Share of Cash Withdrawal and Shopping Purchases on Volume and Value - Domestic Transaction with Domestic Debit card, 2014-2018
Market Share of Cash Withdrawal and Shopping Purchases on Volume and Value – International Transaction with Local Debit Card
8.3. Comparative Landscape
8.3.1. Competition Scenario by Issuer (Competition Stage, Company Position, Leading Debit Card Issuers and Leading Debit Card Operators)
8.3.2. Market Share of Major Debit Card Issuers by Number of Cards in Circulation, 2013-2018
Number of Debit Cards in circulation, 2013-2018
8.3.3. Market Share of Major Debit Card Issuer by Value of Transaction
Value of Transactions by Issuer, 2013-2018
8.3.4. Market Share by Number of Cards in Circulation by Operator
8.4. Future Outlook and Projections, 2019E- 2023E

9. Growth Drivers and Trends
9.1. Trends and Recent Developments
Introduction of Troy card as a Local Operator
Pivot towards Credit Cards for Shopping Purchases
Potential to become Cashless by 2023
Influx of Domestic Transactions Via foreign Cards
Eased Repayment Rules on Credit card Debt
Rapid Adaption of EMV Technology
Rapid Acceptance of Contactless Cards
9.2. Growth Drivers
E-commerce Spending Leading to a spur in Cards market
PAYBACK programs on Card spending
Potential of Unbanked Population
Share of Card Payments in Household Consumption
9.3. Issues and Challenges
Decline in Debit Card Sector Specific Transaction Share
Transformation to Cashless Economy
Surging Credit Card Interest Rate
Security Breach on Mass Usage of Contactless Cards

10. Company Profile of Major Card Players in Turkey
10.1. Turkeiye Garanti Bankasi A.S.
10.2. Yapi ve Kredi Bankasi AS
10.3. Turkiye IS Bankasi A.S.
10.4. AK Bank Turk A.S
10.5. Deniz Bank

11. Company Profile of Card Operators in Turkey
11.1. American Express Turkey
11.2. MasterCard Turkey
11.3. Visa Turkey
11.4. Troy, Turkey

12. Analyst Recommendation
12.1. Debit and Credit Card Recommendation Based on Case Study
Government Initiative
Targeting Specific groups
Reduce Interchange commission on debit card and Credit Card
Integration of Troy cards
Untapped Potential in Debit and Credit CARD- reward points
Initiative of Women centric credit card/ Debit card
Association with Diners Club International
Adoption of Artificial Intelligence
Introduction of virtual cards in mobile banking apps
Technology Driven Initiatives:
Strong Growth Prospects for Commercial Debit Cards
Increase in Mobile and Online Shopping Having a Positive Impact
Growth for Card Payments in High Potential Sectors
Leading Players’ Reward Programmes Boost Dynamism of Debit Cards
Strong Growth Potential of Commercial Credit Card
Disclaimer
Contact Us


List Of Figure

Figure 1-1: Turkey Credit Cards Market Structure by Value and Transaction Volume on the Basis of Shopping Purchases and Cash Withdrawals, 2018
Figure 1-2: Turkey Debit Cards Market Structure by Value and Transaction Volume on the Basis of Shopping Purchases and Cash Withdrawals, 2018
Figure 3-1: Turkey Credit Card and Debit Card Market By Issuer Ecosystem, 2018
Figure 3-2: Turkey Credit Card and Debit Card Market By Operator Ecosystem, 2018
Figure 4-1 Stakeholders in the Business Cycle of EMV Migration, 2019
Figure 4-2: Comparative Analysis on the Basis of Mobile Device Owners Using Mobile Payments in Percentage (%), as of October 2018
Figure 4-3: Number of Unique Debit and Credit Cards used for Online Payments in Million, as of October 2018
Figure 4-4: Online Payment Transaction Volume Split by Payment Amount Range (<=TRY 100 < TRY 10, TRY(10-20),TRY(20-50), TRY(50-100), >=TRY 100) in TRY, 2018
Figure 4-5: Contactless Card Transaction Volume in Million and Growth Rate in Percentage (%), as of October 2018
Figure 4-6: Contactless Card Transaction Value in TRY Billion and Growth Rate in Percentage (%), as of October 2018
Figure 5-1: Card Payment Spending of Major Countries on the Basis of Value in TRY Billion, as of October 2018
Figure 6-1: Operating Model of Turkey Payment Cards Market, 2018
Figure 6-2: Payment Card Transaction Flow Structure in Turkey Payment Cards Market
Figure 7-1: Turkey Overall Payment Modes by Card, Cash, Bank Transfer, Digital Wallet and Others on the Basis of Transaction Value in Percentage (%), 2018
Figure 7-2: Turkey Total Value Distribution by Cashless Payment Mode (Credit Cards, E-Wallet, Debit Cards, Cash, Pre-Paid Cards and Bank Transfers) on the Basis of Transaction Value in Percentage (%), 2018
Figure 7-3: Turkey Credit Card Market Size on the Basis of Number of Credit Cards in Circulation in Million and Growth Rate in Percentage (%) 2014- 2018
Figure 7-4: Turkey Credit Card Market Size by Volume of Transactions in Million and Growth Rate in Percentage (%) 2014-2018
Figure 7-5: Turkey Cards Market Size on the Basis of Credit Card Transaction Value in TRY Billion and Growth Rate in Percentage (%), 2014-2018
Figure 7-6: Turkey Credit Card Market Size by Average Credit Card Transaction Size in TRY, 2014-2018
Figure 7-7: Turkey Card Market by Point of Sale Machine in Circulation in Thousand Units and Growth Rate in Percentage (%), 2014-2018
Figure 7-8: Turkey Credit Card Market Size on the Basis of Domestic Transaction Volume in Million and Domestic Transaction Value in TRY Billion by Domestic Card, 2014-2018
Figure 7-9: Turkey Credit Card Market Size on the Basis of International Transaction Volume in Million and International Transaction Value in TRY Billion by Domestic Card, 2014-2018
Figure 7-10: Turkey Credit Card Market Segmentation on the Basis of Domestic Transaction Value in TRY Million With Domestic Credit Card and International Transaction Value in TRY Million with Domestic Card in Percentage (%), 2018
Figure 7-11: Turkey Credit Card Market Segmentation on the Basis of Domestic Transaction Volume in Million with Domestic Card and International Transaction Volume in Million with Domestic Credit Card in Percentage (%), 2018
Figure 7-12: Turkey Credit Card Market Segmentation by Market Share of Cash Withdrawal and Shopping Purchases on Transaction Volume in Million for Domestic Transactions with Domestic Credit card in Percentage (%), 2014-2018
Figure 7-13: Turkey Credit Card Market Segmentation by Market Share of Cash Withdrawal and Shopping Purchases on Transaction Value in TRY Billion for Domestic Transactions with Domestic Credit card in Percentage (%), 2014-2018
Figure 7-14: Turkey Credit Card Market Segmentation by Market Share of Cash Withdrawal and Shopping Purchases on Transaction Volume in Million for International Transactions with Domestic Credit card in Percentage (%), 2014-2018
Figure 7-15: Turkey Credit Card Market Segmentation by Market Share of Cash Withdrawal and Shopping Purchases on Transaction Value in TRY Billion for International Transactions with Domestic Credit card in Percentage (%), 2014-2018
Figure 7-16: Total Number of Tourists in Turkey in Million and Growth Rate in Percentage (%), as of October 2018
Figure 7-17: Total Number of Foreign Individual Cards Used in Turkey in Million and Growth Rate in Percentage (%), as of October 2018
Figure 7-18: Turkey Credit Card Market Segmentation by Market Share of Cash Withdrawal and Shopping Purchases on Transaction Volume in Million for Domestic Transactions with International Credit card in Percentage (%), 2014-2018
Figure 7-19: Turkey Credit Card Market Segmentation by Market Share of Cash Withdrawal and Shopping Purchases on Transaction Value in TRY Billion for Domestic Transactions with International Credit card in Percentage (%), 2014-2018
Figure 7-20: Turkey Credit Card Market Segmentation on the Basis of Individual and Commercial Credit Card by Number of Cards in Circulation, 2016-2018
Figure 7-21: Turkey Credit Card Market Segmentation on the Basis of Individual and Commercial Credit Card by Value of Payment Transaction, 2016-2018
Figure 7-22: Turkey Commercial Credit Card Segmentation by Transaction Volume in Million and Transaction Value in TRY Billion, 2014-2018
Figure 7-23: Revenue Earned by Banks from Credit Cards Issued in Turkey, 2019
Figure 7-24: Business Model of Turkey Cards between Merchant Bank, Card Holder’s Bank, Merchants and End User.
Figure 7-25: Market Share of Major Credit Card Operators in Turkey Credit Cards Market (Visa, MasterCard, American Express, and Troy) on the Basis of Number of Cards in Circulation in Percentage (%), 2016, 2017 and 2018
Figure 7-26: Market Share of Major Card Operator (MasterCard, Visa, American Express and Troy) Operating in Turkey Credit Card Market on the Basis of Transaction Value in Percentage (%), 2018
Figure 7-27: Turkey Credit Card Market Future Projections on the Basis of Number of Credit Cards in Circulation in Million and Growth Rate in Percentage (%), 2019E-2023E
Figure 7-28: Turkey Credit Card Market Future Projections on the Basis of Transaction Volume and Growth Rate in Percentage (%), 2019E-2023E
Figure 7-29: Turkey Credit Card Market Future Projections on the Basis of Transaction Value in TRY Billion and Year on Year Growth in Percentage (%), 2019E-2023E
Figure 7-30: Turkey Credit Card Market Future on the Basis of Average Transaction Value in TRY and Year on Year Growth in Percentage (%), 2019E-2023E
Figure 8-1: Turkey Debit Card Market Size on the Basis of Number of Debit Cards in Circulation in Million and Growth Rate in Percentage (%) 2014- 2018
Figure 8-2: Turkey Debit Card Market size by Volume of Transactions in Million and Growth Rate in Percentage (%) 2014-2018
Figure 8-3: Turkey Debit Card Market Size by Value of Debit Card Transaction in TRY Billion and Growth Rate in percentage (%), 2014-2018
Figure 8-4: Debit Card Average Transaction Value in TRY and Growth Rate in Percentage (%), 2014-2018
Figure 8-5: Number of ATM Terminals in Units in Turkey and Growth Rate in Percentage (%), 2014-2018
Figure 8-6: Share of Active Debit Cards Direct Payment Transactions by Amount Intervals on the Basis of Transaction Value in TRY, 2018
Figure 8-7: Turkey Debit Card Market Segmentation by Transaction Value in TRY Billion and Transaction Volume in Million for Domestic Transactions with Domestic Debit Card, 2014-2018
Figure 8-8: Turkey Debit Card Market Segmentation by Value of Transactions in TRY Billion and Volume of Transactions in Million for International Transactions with Domestic Debit Card, 2014-2018
Figure 8-9: Turkey Debit Card Market Segmentation on the Basis of Domestic Transaction Value in TRY Billion With Domestic Debit Card and International Transaction Value in TRY Billion with Domestic Debit Card in Percentage (%), 2018
Figure 8-10: Turkey Debit Card Market Segmentation on the Basis of Domestic Transaction Volume in Million with Domestic Debit Card and International Transaction Volume in Million with Domestic Debit Card in Percentage (%), 2018
Figure 8-11: Turkey Debit Card Market Segmentation by Cash Withdrawal and Shopping Purchases on the Basis of Transaction Volume in Million for Domestic Transactions with Domestic Debit Card in Percentage (%), 2014-2018
Figure 8-12: Turkey Debit Card Market Segmentation by Cash Withdrawal and Shopping Purchases on the basis of Transaction Value in TRY Billion for Domestic Transactions with Domestic Debit Card in Percentage (%), 2014-2018
Figure 8-13: Turkey Debit Card Market Segmentation by Cash Withdrawal and Shopping Purchases on the Basis of Transaction Volume in Million for International Transactions with Domestic Debit Card in Percentage (%), 2014-2018
Figure 8-14: Turkey Debit Card Market Segmentation by Cash Withdrawal and Shopping Purchases on the Basis of Transaction Value in TRY Billion for International Transactions with Domestic Debit Card in Percentage (%), 2014-2018
Figure 8-15: Market Share of Major Card Operator (MasterCard, Visa, American Express and Troy) on the Basis of Number of Debit Cards in Circulation in Percentage (%), 2018
Figure 8-16: Market Share of Major Debit Card Operator MasterCard, Visa, American Express and Troy) on the Basis of Transaction Value in Percentage (%), 2018
Figure 8-17: Turkey Debit Card Market Future Outlook and Projections by Number of Debit Cards in Circulation in Million and Growth Rate in Percentage (%), 2019E-2023E
Figure 8-18: Turkey Debit Card Market Future Outlook and Projections by Transaction Volume in Million and Growth Rate in Percentage (%), 2019E-2023E
Figure 8-19: Turkey Debit Card Market Future Outlook and Projections by Transaction Value in TRY Billion and Growth Rate in Percentage (%), 2019E-2023E
Figure 9-1: Number of Contactless Cards in Circulation in Million along with their Growth Rate in Percentage (%), 2016-2018
Figure 9-2: POS Terminal in Turkey Accepting Contactless Card in Million Along With their Growth Rate in Percentage (%), 2016-2018
Figure 9-3: Transaction Value for Ecommerce Using Domestic Cards for Domestic and International Payments, 2014- 2018
Figure 9-4: Overall Share of Card Payment in Household Expenditure on the Basis of Value in Percentage (%), 2017-2018
Figure 9-5: Market Share of Transactions Made Through Debit Cards in Percentage (%), 2017-2018
Figure 11-1 Number of Cards issued by Troy, as of September 2018


List Of Table

Table 2-1: Correlation Matrix for Turkey Credit Card Market, 2018
Table 2-2: Correlation Matrix for Turkey Debit Card Market, 2018
Table 2-3: Regression Coefficients Output for Turkey Credit Card Market
Table 2-4: Regression Coefficients Output for Turkey Debit Card Market
Table 3-1: List of Major Debit Card and Credit Card Issuer and Operators, in Terms of Value of Transactions and Number of Cards in Circulation in Turkey, 2018
Table 4-1: Turkey Online Payment Space and Share of Cards in Online Payments in TRY Billion and Percentage (%), as of October 2018
Table 5-1: Debit Card Ownership Rate Comparison for Population Over 15 years of Age in different Regions including Scandinavian Countries, Germany, United Kingdom, France, Italy and Turkey in Percentage (%) as of December 2017.
Table 5-2: Country Wise Cross Comparison on the basis of Number of Cards in Circulation as of October 2018
Table 5-3: European Comparison of Population Penetration by Card Reception Point on the basis of Number of Point of Sale Terminal per Thousand people and Number of ATM Terminal per Million People, 2018
Table 6-1 Fees for Various Revenue Streams for Issuer Bank Including Annual Charges, Shopping Interest Rate, Cash Withdrawal Interest Rate, Cash Advance Fee (Same Bank), Card Renewal Fee, Card Printing and Shipping Fee, Overseas Transaction, Delay Interest
Table 6-2: Card Transaction Flow Structure in Turkey Cards Market, 2018
Table 7-1: Rationale and Description for the Turkey Credit Card Market Size on the Basis of Cards in Circulation, Transaction Value in TRY Billion and Transaction Volume in Million, 2014-2018
Table 7-2: Turkey Credit card Market Segmentation on by Sectoral Spending on the Basis of Transaction Value in TRY Billion and Market Share in Percentage(%) , 2018
Table 7-3: Active Credit Card Transaction per Month by Value in TRY and Volume in units, 2017-2018
Table 7-4: Rationale and Description for Turkey Credit Card Spending on the Basis of Volume ,Value of Transactions and Number of Cards in Circulation, 2014-2018
Table 7-5: Turkey Credit Card Market Segmentation by Shopping Purchases and Cash Withdrawals on the Basis of Domestic Transactions with Domestic Card, International Transactions with Domestic Credit Card and Domestic Transactions with International Credit Card, 2014-2018
Table 7-6: Turkey Credit Card Market Segmentation by Transaction Value in TRY Billion and Transaction Volume in Million for Domestic Transaction with Domestic Credit card on Shopping Purchases and Cash Withdrawals, 2014-2018
Table 7-7: Turkey Credit Card Market Segmentation by Transaction Value in TRY Billion and Transaction Volume in Million for International Transaction with Domestic Credit card on Shopping Purchases and Cash Withdrawals, 2014-2018
Table 7-8: Turkey Credit Card Market Segmentation by Transaction Value in TRY Billion and Transaction Volume in Million for Domestic Transaction with International Credit Card on Shopping Purchases and Cash Withdrawals, 2014-2018
Table 7-9 Total Number of Tourists in Turkey in Million as of October 2018
Table 7-10: Number of Monthly Average Commercial Credit Card Transactions per Card, 2016-2018
Table 7-11: Monthly average Payment Transaction by Value of Transactions per Card in TRY, 2016-2018
Table 7-12: Revenue Sources for a Credit Card Issuer (Issuing Bank)
Table 7-13: Revenue Sources for an Acquiring Bank
Table 7-14: Revenue Sources for a Payment Operator
Table 7-15: Revenue Streams and Requirements for American Express Credit Cards
Table 7-16: Competition Scenario in Turkey Cards Market Including the Competition Stage, Revenue Stream, Market Nature, Entry Barriers, Company Positioning and Competing Parameters, 2018
Table 7-17: Market Share Description of Major Credit Card Issuer Yapi ve Kredi Bankasi AS, Garanti Bankasi AS, Turkiye Is Bankasi AS (Is Bank), Ak Bank TAS, Finansbank AS, Turkiye Cumhuriyeti Ziraat Bankasi AS, Denizbank, Turkiye Vakiflar Bankasi TAO, Turkiye Halk Bankasi AS, TEB AS, HSBC Bank AS, Seker Bankasi AS, Asya Katilim Bankasi AS, Fortis Bank AS and Others) Operating in Turkey by Total Number of Cards in Circulation, Value of Transactions, Company Position and Competing Parameters, 2018
Table 7-18: Strength and Weakness of Major Credit Card Issuers (Garanti Bankasi AS, Yapi ve Kredi Bankasi AS, Turkiye Is Bankasi AS (Is bank), Ak bank TAS and Deniz Bank.
Table 7-19: Total Number of Credit Cards in Turkey in Circulation by Issuer (Yapi ve Kredi Bankasi AS, Garanti Bankasi AS, Turkiye Is Bankasi AS (Is bank), Ak bank TAS, Finansbank AS, Turkiye Cumhuriyeti Ziraat Bankasi AS, Denizbank, Turkiye Vakiflar Bankasi TAO, Turkiye Halk Bankasi AS, TEB AS, HSBC Bank AS, Seker Bankasi AS, Asya Katilim Bankasi AS, Fortis Bank AS and Others) in Million, 2013-2018
Table 7-20: Turkey Credit Cards Market Share On The Basis Of Number of Credit Cards in Circulation by Issuers (Yapi ve Kredi Bankasi AS, Garanti Bankasi AS, Turkiye Is Bankasi AS (Is bank), Ak bank TAS, Finansbank AS, Turkiye Cumhuriyeti Ziraat Bankasi AS, Denizbank, Turkiye Vakiflar Bankasi TAO, Turkiye Halk Bankasi AS, TEB AS, HSBC Bank AS, Seker Bankasi AS, Asya Katilim Bankasi AS, Fortis Bank AS and Others) in Percentage (%), 2013-2018
Table 7-21: Turkey Credit Cards Market Share of Major Card Issuers (Garanti Bankasi AS, Yapi ve Kredi Bankasi AS, Turkiye Is Bankasi AS (Is bank), AK bank TAS, Finansbank AS, Denizbank, Turkiye Vakiflar Bankasi TAO, TEB AS, Turkiye Cumhuriyeti Ziraat Bankasi AS, Turkiye Halk Bankasi AS, HSBC Bank AS,) in Turkey Credit Card Market on the Basis of Transaction Value in TRY Billion, 2013-2018
Table 7-22: Turkey Cards Market Revenue Share On The Basis Of Value of Credit Card Transactions By Issuers (Yapi ve Kredi Bankasi AS, Garanti Bankasi AS, Turkiye Is Bankasi AS (Is bank), Ak bank TAS, Finansbank AS, Turkiye Cumhuriyeti Ziraat Bankasi AS, Denizbank, Turkiye Vakiflar Bankasi TAO, Turkiye Halk Bankasi AS, TEB AS, HSBC Bank AS, Seker Bankasi AS, Asya Katilim Bankasi AS, Fortis Bank AS and Others) in Percentage (%), 2013-2018
Table 7-23: Customer Acquisition Strategies for Major Banks (Deniz Bank, Ak Bank, Garanti Bank, Yapi Ve Kredi and Turkiye Is Bankasi A.S.)
Table 7-24: Market Share of Major Credit Card Operators in Turkey Credit Cards Market (Visa, MasterCard, American Express, and Troy) on the Basis of Number of Cards in Circulation in Million, 2018
Table 7-25: Market Share of Major Card Operators (MasterCard, Visa, American Express and Troy) Operating in Turkey Credit Card Market on the Basis of Transaction Value in TRY Billion, 2018
Table 7-26: Rationale and Description for Turkey Credit Card Market Future Projections on the Basis of Number of Credit Cards in Circulation in Million, Transaction Volume in Million and Transaction Value in TRY Billion, 2018-2023E
Table 8-1: Rationale and Description for Turkey Debit Card Market Size on the Basis of Number of Cards in Circulation in Million, Transaction Value in TRY Billion & Transaction Volume in Million, 2014-2018
Table 8-2: Sectoral Wise Debit Card Spending in TRY Billion, 2018
Table 8-3: Turkey Active Debit Card Shopping Purchase and Cash Withdrawal by Transaction Value per Active Card per Month in TRY Billion, 2017-2018
Table 8-4 Turkey Active Debit Card Shopping Purchase and Cash Withdrawal by Transaction Volume per Active Card per Month in Million, 2017-2018
Table 8-5: Rationale and Description for Turkey Debit Card Market Segmentation on the Basis of Transaction Value in TRY Billion and Transaction Volume in Million and Debit Card Users, 2014-2018
Table 8-6: Market Segmentation of Turkey Debit Card Market by Shopping Purchases and Cash Withdrawals on the basis of Domestic Transactions With Domestic Card, International Transactions with Domestic Credit Card and Domestic Transactions with International Credit Card.
Table 8-7: Turkey Credit Card Market Segmentation by Transaction Value in TRY Billion and Transaction Volume in Million for Domestic Transaction with Domestic Debit Card on Shopping Purchases and Cash Withdrawals, 2014-2018
Table 8-8: Turkey Debit Card Market Segmentation by Transaction Value in TRY Billion and Transaction Volume in Million for International Transaction with Domestic Debit Card on the Basis of Shopping Purchases and Cash Withdrawals, 2014-2018
Table 8-9: Turkey Debit Card Market Segmentation by Transaction Value in TRY Billion and Transaction Volume in Million for Domestic Transactions with International Debit Card on the Basis of Shopping Purchases and Cash Withdrawals, 2014-2018
Table 8-10: Competitive Scenario of Turkey Debit Cards Market Including Competition Stage, Company Position, Leading Debit Card Issuers, Leading Debit Card Operator, 2018
Table 8-11: Market Share of Major Debit Card Issuers (Turkiye Cumhuriyeti Ziraat Bankasi AS, Turkiye Vakiflar Bankasi TA, Turkiye Halk Bankasi AS, Denizbank, Yapi ve Kredi Bankasi AS, Turkiye Is Bankasi AS (Is bank), Garanti Bankasi AS, Ak bank TAS, Finansbank AS, TEB AS, Seker Bankasi AS, HSBC Bank AS, Citigroup Inc, Fortis Bank and Others) on the Basis of Number of Debit Cards in Circulation in Million, 2013-2018
Table 8-12: Market Share of Major Debit Card Issuers (Turkiye Cumhuriyeti Ziraat Bankasi AS, Turkiye Vakiflar Bankasi TA, Turkiye Halk Bankasi AS, Denizbank, Yapi ve Kredi Bankasi AS, Turkiye Is Bankasi AS (Is bank), Garanti Bankasi AS, Ak bank TAS, Finansbank AS, TEB AS, Seker Bankasi AS, HSBC Bank AS, Citigroup Inc, Fortis Bank and Others) on the Basis of Number of Debit Cards in Circulation in Percentage (%), 2013-2018
Table 8-13: Market Share of Major Debit Card Issuers (Turkiye Cumhuriyeti Ziraat Bankasi AS, Garanti Bankasi AS, Turkiye Is Bankasi AS (Is bank), Yapi ve Kredi Bankasi AS, Ak bank TAS, Turkiye Vakiflar Bankasi TAO, Turkiye Halk Bankasi AS, Finansbank AS, Denizbank, TEB AS, HSBC Bank AS, Seker Bankasi AS, Citigroup Inc, Fortis Bank AS and Others) on the Basis of Transaction Value in TRY Billion, 2013- 2018
Table 8-14: Market Share of Major Debit Card Issuers (Turkiye Cumhuriyeti Ziraat Bankasi AS, Garanti Bankasi AS, Turkiye Is Bankasi AS (Is bank), Yapi ve Kredi Bankasi AS, Ak bank TAS, Turkiye Vakiflar Bankasi TAO, Turkiye Halk Bankasi AS, Finansbank AS, Denizbank, TEB AS, HSBC Bank AS, Seker Bankasi AS, Citigroup Inc, Fortis Bank AS and Others) on the Basis of Transaction Value in Percentage, 2013- 2018
Table 8-15: Market Share of Major Card Operator (MasterCard, Visa, American Express and Troy) on the Basis of Number of Debit Cards in Circulation in Million, 2018
Table 8-16: Market Share of Major Debit Card Operator MasterCard, Visa, American Express and Troy) on the Basis of Transaction Value in TRY Billion, 2018
Table 8-17: Turkey Debit Card Market Future Outlook and Projections on the Basis of Short-Run Market Statistics (2019E-2021E), Long-Run Market Statistics (2018-2023E), Tailwind Reasons for Market Growth, Future Growth Opportunities
Table 9-1: Turkey Card Market Reward Program Offered by Operator Including Turkish Airline Miles, Troy Card, Master Card and American Express, 2018.
Table 9-2: Turkey Card Market Showcasing Banked Population, Total Population and Card Penetration per Capita, 2018
Table 9-3: Turkey Card Payment Intensive Sector and their Penetration Rate in Percentage as of October 2018
Table 10-1: Company Profile of Turkeiye Garanti Bankasi A.S. Company Overview, Mergers and Acquisition, Management, Strategy, Strengths/USP , Cards, Number of Branches, 31st March 2019, Number of Credit and Debit cards as of 2018, Employee base, POS Including Virtual POS, Credit Transaction Value (2018), Digital Banking Customers, ATM, Mobile Banking Customers, Recent Developments, 2018
Table 10-2: Turkeiye Garanti Bank by Cards Flexi cards on the basis of Annual Overdue Interest, Cash Advance Interest, Cash Advance Fees, Over the Limit Interest and Product Fees, 2018
Table 10-3: Turkeiye Garanti Bank by Cards Flexi cards on the basis of Annual Maintenance Fees, Supplementary Card Annual Membership fees, Shopping Interest, Overdue Interest, 2018
Table 10-4: Turkeiye Garanti Bank by Types of Cards (Flexi cards, American Express Card and Bonus Card) on the basis of Cash Advance Interest, Cash Advance Fees, Over the Limit Interest and Product Fees, 2018
Table 10-5: Turkeiye Garanti Bank by Types of Cards (Flexi cards, American Express Card and Bonus Card) on the basis of Annual Maintenance Fees, Supplementary Card Annual Membership fees, Shopping Interest, Overdue Interest, , 2018
Table 10-6: Credit Cards Cross Comparison by Bonus, Money Bonus and Flexi Card Based on Target Audience, Privilege’s offered to Customer Distinct Properties and Additional Services.
Table 10-7: Credit Cards Cross Comparison by Miles & Smiles Credit Card and American Express® Card Based on Target Audience, Privilege’s offered to Customer Distinct Properties and Additional Services.
Table 10-8: Company Profile of Yapi Kredi Bankasi AS Including Company Overview, Management, Strategy, USP/Strength, Cards, Number of Branches as of 31st Dec 2018, Number of Debit and Credit Cards in Circulation, Employee Base, POS, ATM, Customer Base, Recent Developments, 2018
Table 10-9: Yapi Ve Kredi Credit Card Feature of Worldcard, World Gold Card, World Platinum Card, World Eko, Crystal, Adios, Adios Premium Card, Play Card, Opet Worldcard, Taksitçi Card and World Business Card , 2018
Table 10-10: Yapi Ve Kredi Bank Transaction charges and Fees as of 2018
Table 10-11: Yapi Kredi Bankasi AS Annual Card Membership Fees, 2018
Table 10-12: Yapi Ve Kredi Credit Card Installment as of 2018
Table 10-13: Yapi Ve Kredi Bankasi AS- Credit Card Cash Drawing Fees, 2018
Table 10-14: Yapi Ve Kredi Bank Credit card additional charges as of 2018
Table 10-15: Company Profile of Turkiye Is Bankasi A.S. Including Company Overview, Management, Strategy, USP/ Strength , Cards, Number of branches, Number of Debit and Credit cards in Circulation, Digital Banking Customers, Employee base, Key Performance Indicators , Strengths/USPs, Card System support, Recent Developments, 2018
Table 10-16: Turkiye IS Bank Maximum Mile card Expenditure Installment for Transactions above TRY 50 as of 2018.
Table 10-17: Turkiye IS Bank Maxi Mile cards Expenditure Deferral for Transactions Above TRY 50 as of 2018.
Table 10-18: Personal and private Credit Card Interest and Fees of IS Bank Including Entrance Fee, Supplementary Card Entrance Fee, Renewal Fee, Supplementary Card Renewal Fee, Minimum Amount Due, Interest Rate (Monthly) Excluding RUSF, BITT, Overdue Interest, Fees to be Accrued for Late Payments, Over Limit Fee, Bill Payment Fee (Inc. BITT), Cash Withdraw Transaction Commission and Others as of 2018
Table 10-19:IS Bank Prices and Rates of SME and Commercial Cards as of 2018
Table 10-20: Company Profile of AK Bank Turk A.S. Company Overview, Management, Strategy, Services, Strengths/USP, Cards, Number of Branches, Number of employees, Number of Debit and Credit cards in Circulation , Number of ATM , Number of branches, 2017, Number of POS terminals in Circulation, Recent Developments
Table 10-21: AK Bank Specification of Credit cards on the Basis of Fee, Period of Activity and Yearly Cost as of 2018
Table 10-22: AK Bank Wings Credit card (Wings, Wings Black, Wings Contactless, Wings Black Contactless and Wings Business) Fees as of 2018
Table 10-23: AK Banks’s Wings Credit Card Interest rates Including Contractual Interest Rate, Overdue interest, Limit Excess Interest Rate, Cash advance, Different Installment Transactions, Installment Request Interest Rate, Additional Installment Interest Rate and Automatic Invoice Order Interest Rate in Percentage (%) as of 2018
Table 10-24: Service Fees on Wings Credit card
Table 10-25: AK Bank Axess Credit Card (Axess Classic, Axess Gold, Axess Platinum, Axess Business / Axess SME, Axess Student) Fees as of 2018
Table 10-26: AK Bank Axess Credit card Interest Rate Including Contractual Interest Rate, Overdue interest, Limit Excess Interest Rate, Cash Advance Interest Rate, Maturity Interest Rate, Installment Rate Interest Rate, Additional Installment Interest Rate, Interest Rate and Automatic Billing Order Interest Rate as of 2018
Table 10-27: Axess Card Service Fees
Table 10-28: Company Profile of Deniz Bank Including Company Overview, Management, Strategy, Services, Strengths/USP, Cards ,Number of Branches ,Number of employees, Number of Debit and Credit cards in Circulation , Number of ATM , Number of branches, Number of POS terminals in Circulation, Recent Developments, 2018
Table 11-1: Company Profile of American Express Including Company Overview, Management, Strategy, Services, Strengths/USP, Cards ,Number of Branches, Number of Employees, Number of Debit and Credit cards in Circulation , Number of ATM, Number of Branches
Table 11-2: American Express Turkey Cross Comparison Based on Selects discounts, Restaurant and Hotel Deals, Membership Rewards, Travel Services, Concierge Services, Shopbyamex, Travel Disruption Insurance, Shopping Insurance, Car Rental Insurance, SOS Services, Journal Membership and Standard Membership Fee as of 2018.
Table 11-3: American Express Hotel Reward Program Partnership, 2018
Table 11-4: American Express Select Program Discounts Including Accommodation, Restaurants, Car and Yatch Charter, Shopping, Beauty and Others as of 2018
Table 11-5: American Express Interest and fees Including Contractual Interest Overdue interest, Cash Advance Interest, Limit Exceeding Interest, Cash Advance Fee, Credit Card Debt Payment from Common ATMs, Credit Card Debt Inquiry from Common ATMs and Credit Card Limit Inquiry from Common ATMs.
Table 11-6: American Express Card Annual Fees for MasterCard and Ek Kart Ucreti as of 2018.
Table 11-7: American Express Membership Fees for Business and Corporate Card as of 2018.
Table 11-8: Company Profile of MasterCard Including Company Overview, Time Line , Management, Technology, Mobile Payment Solutions, Business Strategy, Types of Cards Offered, Counterfeiting and Fraud Solutions, Strengths/USP, Service to Public Sector, Recent Developments, Number of employees, Number cards in Circulation , Transaction Value– Debit and Credit card and Value Added Services
Table 11-9: MasterCard Contactless Card Boarding Pass fees in TRY, 2018
Table 11-10: Interchange Fees (Including Fee Tier and Rate in Percentage %) Charged by MasterCard on Commercial Card with Effect from August, 2018
Table 11-11: MasterCard and Debit MasterCard ATM Service Fees
Table 11-12: Company Profile of Visa Turkey Including Company Overview, Time Line, Management, Technology, Business Strategy, Security , Strengths/USP, Visa Token (Payment Alternatives), Number of employees, Number cards in Circulation , Transaction Value– Debit and Credit card and Campaigns as of 2018.
Table 11-13: Company Profile of Troy Including Company Overview, Time Line, Management, Technology, Security, Strengths/USP, Number of Cards in Circulation, Transaction Value, Members and Market Share as of 2018
Table 12-1: Turkey Card Payment Sector with Potential Growth in Household Expenditure and their Penetration Rate in Percentage as of 2018

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Products and Companies

Products

Key Segments Covered

  • Credit cards
    • Value of transaction
    • Volume of transaction
    • Number of Credit card in circulation
    • Domestic Transaction Using Domestic Credit Card
    • International Transaction Using Domestic Credit Card
    • Domestic Transaction using International Credit Card
    • Sectoral Spending
  • Debit Cards
    • Value of transaction
    • Volume of transaction
    • Number of Debit card in circulation
    • Domestic Transaction Using Domestic Debit Card
    • International Transaction Using Domestic Debit Card
    • Domestic Transaction using International Debit Card
    • Sectoral Spending


Companies

Companies Covered in Turkey Card Market:

  • Issuers
    • Turkiye Cumhuriyeti Ziraat Bankasi AS
    • Turkiye Vakiflar Bankasi TAO
    • Turkiye Halk Bankasi AS
    • Denizbank
    • Yapi ve Kredi Bankasi AS
    • Turkiye Is Bankasi AS (Is bank)
    • Garanti Bankasi AS
    • Ak bank TAS
    • Finansbank AS
    • TEB AS
    • Seker Bankasi AS
    • HSBC Bank AS
    • Citigroup Inc
  • Operators
    • Visa Inc
    • MasterCard International Inc
    • American Express Co
    • Troy

The report titled "Turkey Cards and Payments Market Outlook to 2023 - Rapid Acceptance of TROY Cards and Contactless Cards Coupled with Rising Penetration of Credit Cards to Drive Market Growth" provides a comprehensive analysis on the cards and payments industry covering various aspects including the introduction and genesis, market size of debit and credit card by value and volume of transaction, number of cards in circulation and average transaction size, segmentation by domestic transactions by domestic card, International transactions with domestic cards, domestic transactions with international cards, further segmented into cash withdrawals and shopping purchases. It also covers market challenges, growth drivers, trends and developments, issues, comparative landscape in cards and payments market by issuer and operator and regulatory framework of the industry. The report concludes with market projections and analyst recommendations highlighting major opportunities and cautions.

Turkey Cards and Payments Market Overview and Size

The credit and debit card business of Turkey has witnessed strong growth owing to increasing value of transactions, volume of transaction and cards in circulation.  The debit card value of transaction grew at a rate faster than that of credit cards, even when both posed double digit growth rate. Adoption of specific payment methods in Turkey will inevitably be influenced by the fact that a large proportion of Turkish citizens remains without a bank account – just over a third of the population is unbanked. The use of cash is particularly prevalent for micropayments including the small and daily expenditures such as newspapers, taxi journeys and coffees. The payments industry of Turkey will have to work hard to mitigate Turkish shoppers over to digital methods of paying for these items.

Turkey Card Market Segmentation

Domestic Transaction with Domestic Credit Card (Cash Withdrawals and Shopping Purchases): Volume of domestic transaction with domestic credit card witnessed 4 year CAGR of 4.8% and 8.7% for cash withdrawals and shopping purchases respectively during 2014-2018. However, the Value of domestic transaction with domestic credit card witnessed a four year CAGR for cash withdrawals and shopping purchases of 14.4% and 12.3% respectively. This happened majorly due to higher value of transaction on limited or same number of credit card transactions.

International Transaction with Domestic Credit Card (Cash Withdrawals and Shopp-ing Purchases): Volume of International transactions using a domestic credit card peaked to an all-time high in 2018, with a four year CAGR (2014-2018) of 15.7%. The volume of cash withdrawals on international transaction using domestic credit card reported a negative four year CAGR (2014-2018) of -2.9% as the transaction fee levied by ATMs is very high, because of which cardholders have preferred shopping purchases over cash withdrawals.  Consumer familiarity with credit cards has increased and cards are often the preferred means of meeting credit needs of Turkish consumers and play a valuable role in domestic financial management, by making installment purchases with their cards for the things they cannot pay in one go.

Domestic Transaction with International Credit Cards (Cash withdrawals and Shopping Purchases): The volume and value of domestic transaction with international credit card is growing at a rapid four year CAGR of 24.9% and 20.4% respectively. This shows a lot of growing potential in international credit card business.

Domestic Transaction with Domestic Debit Card (Cash withdrawals and Shopping Purchases): Volume of domestic transaction with domestic debit card witnessed a four year CAGR of 7.8% and 25.8% for cash withdrawals and shopping purchases respectively. On the other hand, the Value of domestic transaction with domestic debit card witnessed a four year CAGR for cash withdrawals and shopping purchases of 16.3% and 35.0% respectively. The value of shopping purchases showed an exorbitant growth because debit card holders are in the process of majorly switching from cash withdrawals to direct merchant swipes.

International Transaction with Domestic Debit Card (Cash withdrawals and Shopping Purchases): Volume of International transactions using a domestic debit card peaked to an all-time high in 2018, with a four year CAGR (2014-2018) of 47.1%. The volume of cash withdrawals on international transaction using domestic credit card reported a single four year CAGR (2014-2018) of only 5.9% as the foreign exchange rate fluctuations come into picture, because of which cardholders have preferred shopping purchases over cash withdrawals. 

Domestic Transaction with International Debit Card (Cash withdrawals and Shopping Purchases): The international travelers are spending more in Turkey on business trips or tourism. The volume and value of domestic transaction with international debit card is growing at rapid four year CAGR of 28.7% and 39.9% respectively during 2014-2018. Rising incomes and economic stability in recent years however has started to turn the tide in debit card use. In line with most European banking markets, debit cards are issued in conjunction with a bank account and were primarily used for cash withdrawal, serving as a cost-efficient alternative for branch-based cash withdrawals.

Average Value of Transaction for Debit and Credit Card: Since the citizens of Turkey are mediocre risk takers hence, they prefer to do less of credit card transactions. It has been observed that the average value of transaction on debit card has been higher than credit card.

Comparative Landscape in Turkey Cards and Payments Market

The card market in Turkey was moderately concentrated with presence of major banks capturing a larger market share and other handful of banks which do not have a dedicated cards business. The cards market is further segmented in debit and credit cards. Turkey market has fierce competition, i.e., the credit card players have been highly competitive and experimental in product offerings and follow business strategies to expand their reach to untapped audience and retain existing clients. On the other hand, the debit card market was also observed to be competitive as the players are highly prone to lose out market share because of continuous technological advancement in the financial technologies leading to obsolescence of existing technologies. The players continuously tend to develop new technologies and keep in increasing their network with member merchants in order capture more and more target audience. The major parameters on the basis of which they compete are technological advancement- financial technology such as faster transaction service provider, contactless card, virtual cards, chip and pin enabled cards, reward points and benefits on shopping limits, personalized banking services and customer support.

Turkey Cards and Payments Market Future Outlook and Projections

Credit Cards: The overall credit card market future by volume of card in circulation is expected to rise at a slow growth rate due to time taken by people to subscribe for a credit card is comparatively high. The volume and value of credit card transaction is expected to surge at a pace higher than the previous five years because of the increased spending limits, better reward point program and technological advancement leading to ease of doing transactions.

Debit Cards: The overall debit card market by volume and value of transaction is expected to get double by 2023. The growth rate projected is higher than the credit cards due faster adaptability of debit cards in the economy. Also, as and when the untapped population actively participates in the economic activity, they would be first exposed to bank cards instead of credit cards leading to surge in value and volume of debit card transaction in next five years.

Key Segments Covered

  • Credit cards
    • Value of transaction
    • Volume of transaction
    • Number of Credit card in circulation
    • Domestic Transaction Using Domestic Credit Card
    • International Transaction Using Domestic Credit Card
    • Domestic Transaction using International Credit Card
    • Sectoral Spending
  • Debit Cards
    • Value of transaction
    • Volume of transaction
    • Number of Debit card in circulation
    • Domestic Transaction Using Domestic Debit Card
    • International Transaction Using Domestic Debit Card
    • Domestic Transaction using International Debit Card
    • Sectoral Spending

Key Target Audience

  • Credit/ Debit Card Operator
  • Credit/ Debit Card Issuers
  • Prepaid Card Issuers/ Operators 
  • Local/ Foreign Bank
  • Reward/ Loyalty Program Business Operators
  • Payment gateway provider
  • Credit/ Debit Card Issuer
  • POS Device Manufacturers
  • Debit/ Credit Card Manufacturing companies
  • ATM Manufacturing Entities
  • Investors

Time Period Captured in the Report:

  • Historical Period: 2014-2018
  • Forecast Period: 2019-2023

Companies Covered in Turkey Card Market:

  • Issuers
    • Turkiye Cumhuriyeti Ziraat Bankasi AS
    • Turkiye Vakiflar Bankasi TAO
    • Turkiye Halk Bankasi AS
    • Denizbank
    • Yapi ve Kredi Bankasi AS
    • Turkiye Is Bankasi AS (Is bank)
    • Garanti Bankasi AS
    • Ak bank TAS
    • Finansbank AS
    • TEB AS
    • Seker Bankasi AS
    • HSBC Bank AS
    • Citigroup Inc
  • Operators
    • Visa Inc
    • MasterCard International Inc
    • American Express Co
    • Troy

Key Topics Covered in the Report

  • Stake Holders in Turkey Card Market
  • Genesis of Turkey Card Market
  • Credit and Debit Card Coverage
    • Market Size by Number of Cards in Circulation (2014-2018)
    • Market Size by Value of Transaction (2014-2018)
    • Market Size by Volume of Transactions (2014-2018)
  • Market Segmentation of Turkey Cards Market (2014-2018) on Cash Withdrawals and Shopping Purchases
  • Sectoral Spending by Debit and Credit Card (2018)
    • Volume of Transaction
    • Value of Transaction
  • Growth Drivers, Trends and Developments in Turkey Card Market
  • Issues and Challenges in Turkey Card Market
  • Competition Scenario in Turkey Card Market
  • Turkey Card Market Future Outlook and Projections, 2019-2023  
  • Analyst Recommendations

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Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

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Scope

1. Executive Summary
Market Size and Overview
Market Segmentation
Competitive Analysis
Future Outlook and Projections

2. Research Methodology
2.1. Market Definitions
2.2. Abbreviations
2.3. Market Size and Modeling
Consolidated Research Approach
Market Sizing Turkey Card Market
Variables (Dependent and Independent)
Multi Factor Based Sensitivity Model for Credit Card Market
Multi Factor Based Sensitivity Model for Debit Card Market
Regression Matrix- Credit Card Market by Value of Transaction
Limitations-Credit Card Market by Value of Transaction
Final Conclusion- Credit Card Market
Regression Matrix- Debit Card Market by Value of Transaction
Limitations- Debit Card Market by Value of Transactions
Final Conclusion- Debit Card Market

3. Stakeholders in the Turkey Card Market (including list of major debit card and credit card issuer and operators, 2018)
3.1. Card Issuer Side (Entity, Number of Entities in the Ecosystem and Major Players)
3.2. Card Operator Side (Entity, Number of Entities in the Ecosystem and Major Players)

4. Genesis of Credit and Debits Cards
4.1. Incubation Phase
Launch of Turkey’s First Credit Card
Inception of Interbank card center
4.2. Infrastructure phase (including stakeholders in business cycle of EMV Migration)
Introduction of Contactless card
Full chip and pin migration
4.3. Digital Phase (including Comparative Analysis on the Basis of Mobile Device Owners Using Mobile Payments)
Launch of first national digi wallet
Online Payments (including Number of Unique Debit and Credit Cards used for Online Payments and Turkey Distribution of Online Payment by Payment Amount Range)
Contactless Cards (including transaction volume and value, 2016-2018)
Troy card

5. Comparison of Turkey Cards Market with European Cards Market
Debit Card Ownership Rate
Debit and Credit Cards in Circulation
Number of POS and ATM Terminals in Circulation
Country Based Payment Transactions
Region Wise Card Distribution in turkey

6. Operating Model (Flowchart, Fees for Various Revenue Streams for Issuer Bank Including Annual Charges, Shopping Interest Rate, Cash Withdrawal Interest Rate, Cash Advance Fee (Same Bank), Card Renewal Fee, Card Printing and Shipping Fee, Overseas Transaction and Delay Interest; and Payment Card Transaction Flow Structure)

7. Credit Card Coverage
7.1. Market Size (Cards in Circulation, Transaction Value and Transaction Volume), 2014-2018
Number of Credit Cards in Circulation, 201-2018
Credit card Transaction Volume, 2014-2018
Credit Card Transaction value, 2014-2018
Credit Card Average Value of Transaction, 2014- 2018
Sector wise Credit Card Spending, 2018
Number of POS Machines in Turkey
Volume and Transaction Value per Month per Active Credit Card
7.2. Market Segmentation, 2014-2018
7.2.1. By Value of transaction, Volume of Transaction, Cash Withdrawals and Shopping Purchases, 2014-2018
Domestic Transaction Value and Volume - Domestic Credit Card, 2014-2018
International value and volume of transaction- Domestic Credit Card
Domestic and International Transaction Value using a Domestic credit card
Market Segmentation of Cash Withdrawal and Shopping Purchases on Volume and Value
Market Segmentation of Cash Withdrawal and Shopping Purchases on Volume and Value - Domestic Transaction with Domestic Credit Card
Market Segmentation of Cash Withdrawal and Shopping Purchases on Volume and Value – International Transaction with Domestic Credit Card
Market Segmentation of Cash Withdrawal and Shopping Purchases on Volume and Value – Domestic Transaction with International Credit Card
7.2.2. Segment Breakdown of Credit Card
7.3. Competition Landscape
7.3.1. Revenue Streams in a Credit Card System (Revenue Sources for a Credit Card Issuer - Issuing Bank, Revenue Sources for an Acquiring Bank and Revenue Sources for a Payment Operator)
7.3.2. Revenue Stream and Requirements for American Express Credit Cards
7.3.3. Competition Scenario by Issuer (Competition Stage, Revenue Streams, Company Position, Competing Parameters, Revenue Earned by Banks from Credit Cards issued in Turkey and Business Model)
7.4. Market Share of Major Credit Card Operators by Number of Cards in Circulation, 2018 (including strengths and weaknesses)
7.5. Market Share of Major Credit Card Operators by Value of Transaction, 2018 (including customer acquisition strategies)
7.6. Future Outlook and Projections, 2018– 2023

8. Debit Card Coverage
8.1. Market Size (Number of Cards in Circulation, By Transaction Value and By Volume of Transaction, 2014-2018
Number of Debit Cards in Circulation
Debit Card Transaction Volume, 2014-2018
Debit Card Transaction Value, 2014-2018
Debit Card average value of transaction, 2014- 2018
Sector wise credit card spending, 2018
Number of ATM Terminals in Turkey
Transactions per Active Debit Card
Debit Card Transaction Ticket Size
8.2. Market Segmentation, 2014-2018
8.2.1. By Value of transaction, Volume of Transaction, Cash Withdrawals and Shopping Purchases, 2014-2018
Domestic Transaction Value and Transaction Volume - Domestic Debit Card, 2014-2018
International Transaction Value and Transaction Volume- Domestic Debit Card
Domestic And International Value and Transaction Volume using A Local Debit Card
Market Share of Cash Withdrawal and Shopping Purchases on Volume and Value - Domestic Transaction with Domestic Debit card, 2014-2018
Market Share of Cash Withdrawal and Shopping Purchases on Volume and Value – International Transaction with Local Debit Card
8.3. Comparative Landscape
8.3.1. Competition Scenario by Issuer (Competition Stage, Company Position, Leading Debit Card Issuers and Leading Debit Card Operators)
8.3.2. Market Share of Major Debit Card Issuers by Number of Cards in Circulation, 2013-2018
Number of Debit Cards in circulation, 2013-2018
8.3.3. Market Share of Major Debit Card Issuer by Value of Transaction
Value of Transactions by Issuer, 2013-2018
8.3.4. Market Share by Number of Cards in Circulation by Operator
8.4. Future Outlook and Projections, 2019E- 2023E

9. Growth Drivers and Trends
9.1. Trends and Recent Developments
Introduction of Troy card as a Local Operator
Pivot towards Credit Cards for Shopping Purchases
Potential to become Cashless by 2023
Influx of Domestic Transactions Via foreign Cards
Eased Repayment Rules on Credit card Debt
Rapid Adaption of EMV Technology
Rapid Acceptance of Contactless Cards
9.2. Growth Drivers
E-commerce Spending Leading to a spur in Cards market
PAYBACK programs on Card spending
Potential of Unbanked Population
Share of Card Payments in Household Consumption
9.3. Issues and Challenges
Decline in Debit Card Sector Specific Transaction Share
Transformation to Cashless Economy
Surging Credit Card Interest Rate
Security Breach on Mass Usage of Contactless Cards

10. Company Profile of Major Card Players in Turkey
10.1. Turkeiye Garanti Bankasi A.S.
10.2. Yapi ve Kredi Bankasi AS
10.3. Turkiye IS Bankasi A.S.
10.4. AK Bank Turk A.S
10.5. Deniz Bank

11. Company Profile of Card Operators in Turkey
11.1. American Express Turkey
11.2. MasterCard Turkey
11.3. Visa Turkey
11.4. Troy, Turkey

12. Analyst Recommendation
12.1. Debit and Credit Card Recommendation Based on Case Study
Government Initiative
Targeting Specific groups
Reduce Interchange commission on debit card and Credit Card
Integration of Troy cards
Untapped Potential in Debit and Credit CARD- reward points
Initiative of Women centric credit card/ Debit card
Association with Diners Club International
Adoption of Artificial Intelligence
Introduction of virtual cards in mobile banking apps
Technology Driven Initiatives:
Strong Growth Prospects for Commercial Debit Cards
Increase in Mobile and Online Shopping Having a Positive Impact
Growth for Card Payments in High Potential Sectors
Leading Players’ Reward Programmes Boost Dynamism of Debit Cards
Strong Growth Potential of Commercial Credit Card
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List Of Figure

Figure 1-1: Turkey Credit Cards Market Structure by Value and Transaction Volume on the Basis of Shopping Purchases and Cash Withdrawals, 2018
Figure 1-2: Turkey Debit Cards Market Structure by Value and Transaction Volume on the Basis of Shopping Purchases and Cash Withdrawals, 2018
Figure 3-1: Turkey Credit Card and Debit Card Market By Issuer Ecosystem, 2018
Figure 3-2: Turkey Credit Card and Debit Card Market By Operator Ecosystem, 2018
Figure 4-1 Stakeholders in the Business Cycle of EMV Migration, 2019
Figure 4-2: Comparative Analysis on the Basis of Mobile Device Owners Using Mobile Payments in Percentage (%), as of October 2018
Figure 4-3: Number of Unique Debit and Credit Cards used for Online Payments in Million, as of October 2018
Figure 4-4: Online Payment Transaction Volume Split by Payment Amount Range (<=TRY 100 < TRY 10, TRY(10-20),TRY(20-50), TRY(50-100), >=TRY 100) in TRY, 2018
Figure 4-5: Contactless Card Transaction Volume in Million and Growth Rate in Percentage (%), as of October 2018
Figure 4-6: Contactless Card Transaction Value in TRY Billion and Growth Rate in Percentage (%), as of October 2018
Figure 5-1: Card Payment Spending of Major Countries on the Basis of Value in TRY Billion, as of October 2018
Figure 6-1: Operating Model of Turkey Payment Cards Market, 2018
Figure 6-2: Payment Card Transaction Flow Structure in Turkey Payment Cards Market
Figure 7-1: Turkey Overall Payment Modes by Card, Cash, Bank Transfer, Digital Wallet and Others on the Basis of Transaction Value in Percentage (%), 2018
Figure 7-2: Turkey Total Value Distribution by Cashless Payment Mode (Credit Cards, E-Wallet, Debit Cards, Cash, Pre-Paid Cards and Bank Transfers) on the Basis of Transaction Value in Percentage (%), 2018
Figure 7-3: Turkey Credit Card Market Size on the Basis of Number of Credit Cards in Circulation in Million and Growth Rate in Percentage (%) 2014- 2018
Figure 7-4: Turkey Credit Card Market Size by Volume of Transactions in Million and Growth Rate in Percentage (%) 2014-2018
Figure 7-5: Turkey Cards Market Size on the Basis of Credit Card Transaction Value in TRY Billion and Growth Rate in Percentage (%), 2014-2018
Figure 7-6: Turkey Credit Card Market Size by Average Credit Card Transaction Size in TRY, 2014-2018
Figure 7-7: Turkey Card Market by Point of Sale Machine in Circulation in Thousand Units and Growth Rate in Percentage (%), 2014-2018
Figure 7-8: Turkey Credit Card Market Size on the Basis of Domestic Transaction Volume in Million and Domestic Transaction Value in TRY Billion by Domestic Card, 2014-2018
Figure 7-9: Turkey Credit Card Market Size on the Basis of International Transaction Volume in Million and International Transaction Value in TRY Billion by Domestic Card, 2014-2018
Figure 7-10: Turkey Credit Card Market Segmentation on the Basis of Domestic Transaction Value in TRY Million With Domestic Credit Card and International Transaction Value in TRY Million with Domestic Card in Percentage (%), 2018
Figure 7-11: Turkey Credit Card Market Segmentation on the Basis of Domestic Transaction Volume in Million with Domestic Card and International Transaction Volume in Million with Domestic Credit Card in Percentage (%), 2018
Figure 7-12: Turkey Credit Card Market Segmentation by Market Share of Cash Withdrawal and Shopping Purchases on Transaction Volume in Million for Domestic Transactions with Domestic Credit card in Percentage (%), 2014-2018
Figure 7-13: Turkey Credit Card Market Segmentation by Market Share of Cash Withdrawal and Shopping Purchases on Transaction Value in TRY Billion for Domestic Transactions with Domestic Credit card in Percentage (%), 2014-2018
Figure 7-14: Turkey Credit Card Market Segmentation by Market Share of Cash Withdrawal and Shopping Purchases on Transaction Volume in Million for International Transactions with Domestic Credit card in Percentage (%), 2014-2018
Figure 7-15: Turkey Credit Card Market Segmentation by Market Share of Cash Withdrawal and Shopping Purchases on Transaction Value in TRY Billion for International Transactions with Domestic Credit card in Percentage (%), 2014-2018
Figure 7-16: Total Number of Tourists in Turkey in Million and Growth Rate in Percentage (%), as of October 2018
Figure 7-17: Total Number of Foreign Individual Cards Used in Turkey in Million and Growth Rate in Percentage (%), as of October 2018
Figure 7-18: Turkey Credit Card Market Segmentation by Market Share of Cash Withdrawal and Shopping Purchases on Transaction Volume in Million for Domestic Transactions with International Credit card in Percentage (%), 2014-2018
Figure 7-19: Turkey Credit Card Market Segmentation by Market Share of Cash Withdrawal and Shopping Purchases on Transaction Value in TRY Billion for Domestic Transactions with International Credit card in Percentage (%), 2014-2018
Figure 7-20: Turkey Credit Card Market Segmentation on the Basis of Individual and Commercial Credit Card by Number of Cards in Circulation, 2016-2018
Figure 7-21: Turkey Credit Card Market Segmentation on the Basis of Individual and Commercial Credit Card by Value of Payment Transaction, 2016-2018
Figure 7-22: Turkey Commercial Credit Card Segmentation by Transaction Volume in Million and Transaction Value in TRY Billion, 2014-2018
Figure 7-23: Revenue Earned by Banks from Credit Cards Issued in Turkey, 2019
Figure 7-24: Business Model of Turkey Cards between Merchant Bank, Card Holder’s Bank, Merchants and End User.
Figure 7-25: Market Share of Major Credit Card Operators in Turkey Credit Cards Market (Visa, MasterCard, American Express, and Troy) on the Basis of Number of Cards in Circulation in Percentage (%), 2016, 2017 and 2018
Figure 7-26: Market Share of Major Card Operator (MasterCard, Visa, American Express and Troy) Operating in Turkey Credit Card Market on the Basis of Transaction Value in Percentage (%), 2018
Figure 7-27: Turkey Credit Card Market Future Projections on the Basis of Number of Credit Cards in Circulation in Million and Growth Rate in Percentage (%), 2019E-2023E
Figure 7-28: Turkey Credit Card Market Future Projections on the Basis of Transaction Volume and Growth Rate in Percentage (%), 2019E-2023E
Figure 7-29: Turkey Credit Card Market Future Projections on the Basis of Transaction Value in TRY Billion and Year on Year Growth in Percentage (%), 2019E-2023E
Figure 7-30: Turkey Credit Card Market Future on the Basis of Average Transaction Value in TRY and Year on Year Growth in Percentage (%), 2019E-2023E
Figure 8-1: Turkey Debit Card Market Size on the Basis of Number of Debit Cards in Circulation in Million and Growth Rate in Percentage (%) 2014- 2018
Figure 8-2: Turkey Debit Card Market size by Volume of Transactions in Million and Growth Rate in Percentage (%) 2014-2018
Figure 8-3: Turkey Debit Card Market Size by Value of Debit Card Transaction in TRY Billion and Growth Rate in percentage (%), 2014-2018
Figure 8-4: Debit Card Average Transaction Value in TRY and Growth Rate in Percentage (%), 2014-2018
Figure 8-5: Number of ATM Terminals in Units in Turkey and Growth Rate in Percentage (%), 2014-2018
Figure 8-6: Share of Active Debit Cards Direct Payment Transactions by Amount Intervals on the Basis of Transaction Value in TRY, 2018
Figure 8-7: Turkey Debit Card Market Segmentation by Transaction Value in TRY Billion and Transaction Volume in Million for Domestic Transactions with Domestic Debit Card, 2014-2018
Figure 8-8: Turkey Debit Card Market Segmentation by Value of Transactions in TRY Billion and Volume of Transactions in Million for International Transactions with Domestic Debit Card, 2014-2018
Figure 8-9: Turkey Debit Card Market Segmentation on the Basis of Domestic Transaction Value in TRY Billion With Domestic Debit Card and International Transaction Value in TRY Billion with Domestic Debit Card in Percentage (%), 2018
Figure 8-10: Turkey Debit Card Market Segmentation on the Basis of Domestic Transaction Volume in Million with Domestic Debit Card and International Transaction Volume in Million with Domestic Debit Card in Percentage (%), 2018
Figure 8-11: Turkey Debit Card Market Segmentation by Cash Withdrawal and Shopping Purchases on the Basis of Transaction Volume in Million for Domestic Transactions with Domestic Debit Card in Percentage (%), 2014-2018
Figure 8-12: Turkey Debit Card Market Segmentation by Cash Withdrawal and Shopping Purchases on the basis of Transaction Value in TRY Billion for Domestic Transactions with Domestic Debit Card in Percentage (%), 2014-2018
Figure 8-13: Turkey Debit Card Market Segmentation by Cash Withdrawal and Shopping Purchases on the Basis of Transaction Volume in Million for International Transactions with Domestic Debit Card in Percentage (%), 2014-2018
Figure 8-14: Turkey Debit Card Market Segmentation by Cash Withdrawal and Shopping Purchases on the Basis of Transaction Value in TRY Billion for International Transactions with Domestic Debit Card in Percentage (%), 2014-2018
Figure 8-15: Market Share of Major Card Operator (MasterCard, Visa, American Express and Troy) on the Basis of Number of Debit Cards in Circulation in Percentage (%), 2018
Figure 8-16: Market Share of Major Debit Card Operator MasterCard, Visa, American Express and Troy) on the Basis of Transaction Value in Percentage (%), 2018
Figure 8-17: Turkey Debit Card Market Future Outlook and Projections by Number of Debit Cards in Circulation in Million and Growth Rate in Percentage (%), 2019E-2023E
Figure 8-18: Turkey Debit Card Market Future Outlook and Projections by Transaction Volume in Million and Growth Rate in Percentage (%), 2019E-2023E
Figure 8-19: Turkey Debit Card Market Future Outlook and Projections by Transaction Value in TRY Billion and Growth Rate in Percentage (%), 2019E-2023E
Figure 9-1: Number of Contactless Cards in Circulation in Million along with their Growth Rate in Percentage (%), 2016-2018
Figure 9-2: POS Terminal in Turkey Accepting Contactless Card in Million Along With their Growth Rate in Percentage (%), 2016-2018
Figure 9-3: Transaction Value for Ecommerce Using Domestic Cards for Domestic and International Payments, 2014- 2018
Figure 9-4: Overall Share of Card Payment in Household Expenditure on the Basis of Value in Percentage (%), 2017-2018
Figure 9-5: Market Share of Transactions Made Through Debit Cards in Percentage (%), 2017-2018
Figure 11-1 Number of Cards issued by Troy, as of September 2018


List Of Table

Table 2-1: Correlation Matrix for Turkey Credit Card Market, 2018
Table 2-2: Correlation Matrix for Turkey Debit Card Market, 2018
Table 2-3: Regression Coefficients Output for Turkey Credit Card Market
Table 2-4: Regression Coefficients Output for Turkey Debit Card Market
Table 3-1: List of Major Debit Card and Credit Card Issuer and Operators, in Terms of Value of Transactions and Number of Cards in Circulation in Turkey, 2018
Table 4-1: Turkey Online Payment Space and Share of Cards in Online Payments in TRY Billion and Percentage (%), as of October 2018
Table 5-1: Debit Card Ownership Rate Comparison for Population Over 15 years of Age in different Regions including Scandinavian Countries, Germany, United Kingdom, France, Italy and Turkey in Percentage (%) as of December 2017.
Table 5-2: Country Wise Cross Comparison on the basis of Number of Cards in Circulation as of October 2018
Table 5-3: European Comparison of Population Penetration by Card Reception Point on the basis of Number of Point of Sale Terminal per Thousand people and Number of ATM Terminal per Million People, 2018
Table 6-1 Fees for Various Revenue Streams for Issuer Bank Including Annual Charges, Shopping Interest Rate, Cash Withdrawal Interest Rate, Cash Advance Fee (Same Bank), Card Renewal Fee, Card Printing and Shipping Fee, Overseas Transaction, Delay Interest
Table 6-2: Card Transaction Flow Structure in Turkey Cards Market, 2018
Table 7-1: Rationale and Description for the Turkey Credit Card Market Size on the Basis of Cards in Circulation, Transaction Value in TRY Billion and Transaction Volume in Million, 2014-2018
Table 7-2: Turkey Credit card Market Segmentation on by Sectoral Spending on the Basis of Transaction Value in TRY Billion and Market Share in Percentage(%) , 2018
Table 7-3: Active Credit Card Transaction per Month by Value in TRY and Volume in units, 2017-2018
Table 7-4: Rationale and Description for Turkey Credit Card Spending on the Basis of Volume ,Value of Transactions and Number of Cards in Circulation, 2014-2018
Table 7-5: Turkey Credit Card Market Segmentation by Shopping Purchases and Cash Withdrawals on the Basis of Domestic Transactions with Domestic Card, International Transactions with Domestic Credit Card and Domestic Transactions with International Credit Card, 2014-2018
Table 7-6: Turkey Credit Card Market Segmentation by Transaction Value in TRY Billion and Transaction Volume in Million for Domestic Transaction with Domestic Credit card on Shopping Purchases and Cash Withdrawals, 2014-2018
Table 7-7: Turkey Credit Card Market Segmentation by Transaction Value in TRY Billion and Transaction Volume in Million for International Transaction with Domestic Credit card on Shopping Purchases and Cash Withdrawals, 2014-2018
Table 7-8: Turkey Credit Card Market Segmentation by Transaction Value in TRY Billion and Transaction Volume in Million for Domestic Transaction with International Credit Card on Shopping Purchases and Cash Withdrawals, 2014-2018
Table 7-9 Total Number of Tourists in Turkey in Million as of October 2018
Table 7-10: Number of Monthly Average Commercial Credit Card Transactions per Card, 2016-2018
Table 7-11: Monthly average Payment Transaction by Value of Transactions per Card in TRY, 2016-2018
Table 7-12: Revenue Sources for a Credit Card Issuer (Issuing Bank)
Table 7-13: Revenue Sources for an Acquiring Bank
Table 7-14: Revenue Sources for a Payment Operator
Table 7-15: Revenue Streams and Requirements for American Express Credit Cards
Table 7-16: Competition Scenario in Turkey Cards Market Including the Competition Stage, Revenue Stream, Market Nature, Entry Barriers, Company Positioning and Competing Parameters, 2018
Table 7-17: Market Share Description of Major Credit Card Issuer Yapi ve Kredi Bankasi AS, Garanti Bankasi AS, Turkiye Is Bankasi AS (Is Bank), Ak Bank TAS, Finansbank AS, Turkiye Cumhuriyeti Ziraat Bankasi AS, Denizbank, Turkiye Vakiflar Bankasi TAO, Turkiye Halk Bankasi AS, TEB AS, HSBC Bank AS, Seker Bankasi AS, Asya Katilim Bankasi AS, Fortis Bank AS and Others) Operating in Turkey by Total Number of Cards in Circulation, Value of Transactions, Company Position and Competing Parameters, 2018
Table 7-18: Strength and Weakness of Major Credit Card Issuers (Garanti Bankasi AS, Yapi ve Kredi Bankasi AS, Turkiye Is Bankasi AS (Is bank), Ak bank TAS and Deniz Bank.
Table 7-19: Total Number of Credit Cards in Turkey in Circulation by Issuer (Yapi ve Kredi Bankasi AS, Garanti Bankasi AS, Turkiye Is Bankasi AS (Is bank), Ak bank TAS, Finansbank AS, Turkiye Cumhuriyeti Ziraat Bankasi AS, Denizbank, Turkiye Vakiflar Bankasi TAO, Turkiye Halk Bankasi AS, TEB AS, HSBC Bank AS, Seker Bankasi AS, Asya Katilim Bankasi AS, Fortis Bank AS and Others) in Million, 2013-2018
Table 7-20: Turkey Credit Cards Market Share On The Basis Of Number of Credit Cards in Circulation by Issuers (Yapi ve Kredi Bankasi AS, Garanti Bankasi AS, Turkiye Is Bankasi AS (Is bank), Ak bank TAS, Finansbank AS, Turkiye Cumhuriyeti Ziraat Bankasi AS, Denizbank, Turkiye Vakiflar Bankasi TAO, Turkiye Halk Bankasi AS, TEB AS, HSBC Bank AS, Seker Bankasi AS, Asya Katilim Bankasi AS, Fortis Bank AS and Others) in Percentage (%), 2013-2018
Table 7-21: Turkey Credit Cards Market Share of Major Card Issuers (Garanti Bankasi AS, Yapi ve Kredi Bankasi AS, Turkiye Is Bankasi AS (Is bank), AK bank TAS, Finansbank AS, Denizbank, Turkiye Vakiflar Bankasi TAO, TEB AS, Turkiye Cumhuriyeti Ziraat Bankasi AS, Turkiye Halk Bankasi AS, HSBC Bank AS,) in Turkey Credit Card Market on the Basis of Transaction Value in TRY Billion, 2013-2018
Table 7-22: Turkey Cards Market Revenue Share On The Basis Of Value of Credit Card Transactions By Issuers (Yapi ve Kredi Bankasi AS, Garanti Bankasi AS, Turkiye Is Bankasi AS (Is bank), Ak bank TAS, Finansbank AS, Turkiye Cumhuriyeti Ziraat Bankasi AS, Denizbank, Turkiye Vakiflar Bankasi TAO, Turkiye Halk Bankasi AS, TEB AS, HSBC Bank AS, Seker Bankasi AS, Asya Katilim Bankasi AS, Fortis Bank AS and Others) in Percentage (%), 2013-2018
Table 7-23: Customer Acquisition Strategies for Major Banks (Deniz Bank, Ak Bank, Garanti Bank, Yapi Ve Kredi and Turkiye Is Bankasi A.S.)
Table 7-24: Market Share of Major Credit Card Operators in Turkey Credit Cards Market (Visa, MasterCard, American Express, and Troy) on the Basis of Number of Cards in Circulation in Million, 2018
Table 7-25: Market Share of Major Card Operators (MasterCard, Visa, American Express and Troy) Operating in Turkey Credit Card Market on the Basis of Transaction Value in TRY Billion, 2018
Table 7-26: Rationale and Description for Turkey Credit Card Market Future Projections on the Basis of Number of Credit Cards in Circulation in Million, Transaction Volume in Million and Transaction Value in TRY Billion, 2018-2023E
Table 8-1: Rationale and Description for Turkey Debit Card Market Size on the Basis of Number of Cards in Circulation in Million, Transaction Value in TRY Billion & Transaction Volume in Million, 2014-2018
Table 8-2: Sectoral Wise Debit Card Spending in TRY Billion, 2018
Table 8-3: Turkey Active Debit Card Shopping Purchase and Cash Withdrawal by Transaction Value per Active Card per Month in TRY Billion, 2017-2018
Table 8-4 Turkey Active Debit Card Shopping Purchase and Cash Withdrawal by Transaction Volume per Active Card per Month in Million, 2017-2018
Table 8-5: Rationale and Description for Turkey Debit Card Market Segmentation on the Basis of Transaction Value in TRY Billion and Transaction Volume in Million and Debit Card Users, 2014-2018
Table 8-6: Market Segmentation of Turkey Debit Card Market by Shopping Purchases and Cash Withdrawals on the basis of Domestic Transactions With Domestic Card, International Transactions with Domestic Credit Card and Domestic Transactions with International Credit Card.
Table 8-7: Turkey Credit Card Market Segmentation by Transaction Value in TRY Billion and Transaction Volume in Million for Domestic Transaction with Domestic Debit Card on Shopping Purchases and Cash Withdrawals, 2014-2018
Table 8-8: Turkey Debit Card Market Segmentation by Transaction Value in TRY Billion and Transaction Volume in Million for International Transaction with Domestic Debit Card on the Basis of Shopping Purchases and Cash Withdrawals, 2014-2018
Table 8-9: Turkey Debit Card Market Segmentation by Transaction Value in TRY Billion and Transaction Volume in Million for Domestic Transactions with International Debit Card on the Basis of Shopping Purchases and Cash Withdrawals, 2014-2018
Table 8-10: Competitive Scenario of Turkey Debit Cards Market Including Competition Stage, Company Position, Leading Debit Card Issuers, Leading Debit Card Operator, 2018
Table 8-11: Market Share of Major Debit Card Issuers (Turkiye Cumhuriyeti Ziraat Bankasi AS, Turkiye Vakiflar Bankasi TA, Turkiye Halk Bankasi AS, Denizbank, Yapi ve Kredi Bankasi AS, Turkiye Is Bankasi AS (Is bank), Garanti Bankasi AS, Ak bank TAS, Finansbank AS, TEB AS, Seker Bankasi AS, HSBC Bank AS, Citigroup Inc, Fortis Bank and Others) on the Basis of Number of Debit Cards in Circulation in Million, 2013-2018
Table 8-12: Market Share of Major Debit Card Issuers (Turkiye Cumhuriyeti Ziraat Bankasi AS, Turkiye Vakiflar Bankasi TA, Turkiye Halk Bankasi AS, Denizbank, Yapi ve Kredi Bankasi AS, Turkiye Is Bankasi AS (Is bank), Garanti Bankasi AS, Ak bank TAS, Finansbank AS, TEB AS, Seker Bankasi AS, HSBC Bank AS, Citigroup Inc, Fortis Bank and Others) on the Basis of Number of Debit Cards in Circulation in Percentage (%), 2013-2018
Table 8-13: Market Share of Major Debit Card Issuers (Turkiye Cumhuriyeti Ziraat Bankasi AS, Garanti Bankasi AS, Turkiye Is Bankasi AS (Is bank), Yapi ve Kredi Bankasi AS, Ak bank TAS, Turkiye Vakiflar Bankasi TAO, Turkiye Halk Bankasi AS, Finansbank AS, Denizbank, TEB AS, HSBC Bank AS, Seker Bankasi AS, Citigroup Inc, Fortis Bank AS and Others) on the Basis of Transaction Value in TRY Billion, 2013- 2018
Table 8-14: Market Share of Major Debit Card Issuers (Turkiye Cumhuriyeti Ziraat Bankasi AS, Garanti Bankasi AS, Turkiye Is Bankasi AS (Is bank), Yapi ve Kredi Bankasi AS, Ak bank TAS, Turkiye Vakiflar Bankasi TAO, Turkiye Halk Bankasi AS, Finansbank AS, Denizbank, TEB AS, HSBC Bank AS, Seker Bankasi AS, Citigroup Inc, Fortis Bank AS and Others) on the Basis of Transaction Value in Percentage, 2013- 2018
Table 8-15: Market Share of Major Card Operator (MasterCard, Visa, American Express and Troy) on the Basis of Number of Debit Cards in Circulation in Million, 2018
Table 8-16: Market Share of Major Debit Card Operator MasterCard, Visa, American Express and Troy) on the Basis of Transaction Value in TRY Billion, 2018
Table 8-17: Turkey Debit Card Market Future Outlook and Projections on the Basis of Short-Run Market Statistics (2019E-2021E), Long-Run Market Statistics (2018-2023E), Tailwind Reasons for Market Growth, Future Growth Opportunities
Table 9-1: Turkey Card Market Reward Program Offered by Operator Including Turkish Airline Miles, Troy Card, Master Card and American Express, 2018.
Table 9-2: Turkey Card Market Showcasing Banked Population, Total Population and Card Penetration per Capita, 2018
Table 9-3: Turkey Card Payment Intensive Sector and their Penetration Rate in Percentage as of October 2018
Table 10-1: Company Profile of Turkeiye Garanti Bankasi A.S. Company Overview, Mergers and Acquisition, Management, Strategy, Strengths/USP , Cards, Number of Branches, 31st March 2019, Number of Credit and Debit cards as of 2018, Employee base, POS Including Virtual POS, Credit Transaction Value (2018), Digital Banking Customers, ATM, Mobile Banking Customers, Recent Developments, 2018
Table 10-2: Turkeiye Garanti Bank by Cards Flexi cards on the basis of Annual Overdue Interest, Cash Advance Interest, Cash Advance Fees, Over the Limit Interest and Product Fees, 2018
Table 10-3: Turkeiye Garanti Bank by Cards Flexi cards on the basis of Annual Maintenance Fees, Supplementary Card Annual Membership fees, Shopping Interest, Overdue Interest, 2018
Table 10-4: Turkeiye Garanti Bank by Types of Cards (Flexi cards, American Express Card and Bonus Card) on the basis of Cash Advance Interest, Cash Advance Fees, Over the Limit Interest and Product Fees, 2018
Table 10-5: Turkeiye Garanti Bank by Types of Cards (Flexi cards, American Express Card and Bonus Card) on the basis of Annual Maintenance Fees, Supplementary Card Annual Membership fees, Shopping Interest, Overdue Interest, , 2018
Table 10-6: Credit Cards Cross Comparison by Bonus, Money Bonus and Flexi Card Based on Target Audience, Privilege’s offered to Customer Distinct Properties and Additional Services.
Table 10-7: Credit Cards Cross Comparison by Miles & Smiles Credit Card and American Express® Card Based on Target Audience, Privilege’s offered to Customer Distinct Properties and Additional Services.
Table 10-8: Company Profile of Yapi Kredi Bankasi AS Including Company Overview, Management, Strategy, USP/Strength, Cards, Number of Branches as of 31st Dec 2018, Number of Debit and Credit Cards in Circulation, Employee Base, POS, ATM, Customer Base, Recent Developments, 2018
Table 10-9: Yapi Ve Kredi Credit Card Feature of Worldcard, World Gold Card, World Platinum Card, World Eko, Crystal, Adios, Adios Premium Card, Play Card, Opet Worldcard, Taksitçi Card and World Business Card , 2018
Table 10-10: Yapi Ve Kredi Bank Transaction charges and Fees as of 2018
Table 10-11: Yapi Kredi Bankasi AS Annual Card Membership Fees, 2018
Table 10-12: Yapi Ve Kredi Credit Card Installment as of 2018
Table 10-13: Yapi Ve Kredi Bankasi AS- Credit Card Cash Drawing Fees, 2018
Table 10-14: Yapi Ve Kredi Bank Credit card additional charges as of 2018
Table 10-15: Company Profile of Turkiye Is Bankasi A.S. Including Company Overview, Management, Strategy, USP/ Strength , Cards, Number of branches, Number of Debit and Credit cards in Circulation, Digital Banking Customers, Employee base, Key Performance Indicators , Strengths/USPs, Card System support, Recent Developments, 2018
Table 10-16: Turkiye IS Bank Maximum Mile card Expenditure Installment for Transactions above TRY 50 as of 2018.
Table 10-17: Turkiye IS Bank Maxi Mile cards Expenditure Deferral for Transactions Above TRY 50 as of 2018.
Table 10-18: Personal and private Credit Card Interest and Fees of IS Bank Including Entrance Fee, Supplementary Card Entrance Fee, Renewal Fee, Supplementary Card Renewal Fee, Minimum Amount Due, Interest Rate (Monthly) Excluding RUSF, BITT, Overdue Interest, Fees to be Accrued for Late Payments, Over Limit Fee, Bill Payment Fee (Inc. BITT), Cash Withdraw Transaction Commission and Others as of 2018
Table 10-19:IS Bank Prices and Rates of SME and Commercial Cards as of 2018
Table 10-20: Company Profile of AK Bank Turk A.S. Company Overview, Management, Strategy, Services, Strengths/USP, Cards, Number of Branches, Number of employees, Number of Debit and Credit cards in Circulation , Number of ATM , Number of branches, 2017, Number of POS terminals in Circulation, Recent Developments
Table 10-21: AK Bank Specification of Credit cards on the Basis of Fee, Period of Activity and Yearly Cost as of 2018
Table 10-22: AK Bank Wings Credit card (Wings, Wings Black, Wings Contactless, Wings Black Contactless and Wings Business) Fees as of 2018
Table 10-23: AK Banks’s Wings Credit Card Interest rates Including Contractual Interest Rate, Overdue interest, Limit Excess Interest Rate, Cash advance, Different Installment Transactions, Installment Request Interest Rate, Additional Installment Interest Rate and Automatic Invoice Order Interest Rate in Percentage (%) as of 2018
Table 10-24: Service Fees on Wings Credit card
Table 10-25: AK Bank Axess Credit Card (Axess Classic, Axess Gold, Axess Platinum, Axess Business / Axess SME, Axess Student) Fees as of 2018
Table 10-26: AK Bank Axess Credit card Interest Rate Including Contractual Interest Rate, Overdue interest, Limit Excess Interest Rate, Cash Advance Interest Rate, Maturity Interest Rate, Installment Rate Interest Rate, Additional Installment Interest Rate, Interest Rate and Automatic Billing Order Interest Rate as of 2018
Table 10-27: Axess Card Service Fees
Table 10-28: Company Profile of Deniz Bank Including Company Overview, Management, Strategy, Services, Strengths/USP, Cards ,Number of Branches ,Number of employees, Number of Debit and Credit cards in Circulation , Number of ATM , Number of branches, Number of POS terminals in Circulation, Recent Developments, 2018
Table 11-1: Company Profile of American Express Including Company Overview, Management, Strategy, Services, Strengths/USP, Cards ,Number of Branches, Number of Employees, Number of Debit and Credit cards in Circulation , Number of ATM, Number of Branches
Table 11-2: American Express Turkey Cross Comparison Based on Selects discounts, Restaurant and Hotel Deals, Membership Rewards, Travel Services, Concierge Services, Shopbyamex, Travel Disruption Insurance, Shopping Insurance, Car Rental Insurance, SOS Services, Journal Membership and Standard Membership Fee as of 2018.
Table 11-3: American Express Hotel Reward Program Partnership, 2018
Table 11-4: American Express Select Program Discounts Including Accommodation, Restaurants, Car and Yatch Charter, Shopping, Beauty and Others as of 2018
Table 11-5: American Express Interest and fees Including Contractual Interest Overdue interest, Cash Advance Interest, Limit Exceeding Interest, Cash Advance Fee, Credit Card Debt Payment from Common ATMs, Credit Card Debt Inquiry from Common ATMs and Credit Card Limit Inquiry from Common ATMs.
Table 11-6: American Express Card Annual Fees for MasterCard and Ek Kart Ucreti as of 2018.
Table 11-7: American Express Membership Fees for Business and Corporate Card as of 2018.
Table 11-8: Company Profile of MasterCard Including Company Overview, Time Line , Management, Technology, Mobile Payment Solutions, Business Strategy, Types of Cards Offered, Counterfeiting and Fraud Solutions, Strengths/USP, Service to Public Sector, Recent Developments, Number of employees, Number cards in Circulation , Transaction Value– Debit and Credit card and Value Added Services
Table 11-9: MasterCard Contactless Card Boarding Pass fees in TRY, 2018
Table 11-10: Interchange Fees (Including Fee Tier and Rate in Percentage %) Charged by MasterCard on Commercial Card with Effect from August, 2018
Table 11-11: MasterCard and Debit MasterCard ATM Service Fees
Table 11-12: Company Profile of Visa Turkey Including Company Overview, Time Line, Management, Technology, Business Strategy, Security , Strengths/USP, Visa Token (Payment Alternatives), Number of employees, Number cards in Circulation , Transaction Value– Debit and Credit card and Campaigns as of 2018.
Table 11-13: Company Profile of Troy Including Company Overview, Time Line, Management, Technology, Security, Strengths/USP, Number of Cards in Circulation, Transaction Value, Members and Market Share as of 2018
Table 12-1: Turkey Card Payment Sector with Potential Growth in Household Expenditure and their Penetration Rate in Percentage as of 2018

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Products

Key Segments Covered

  • Credit cards
    • Value of transaction
    • Volume of transaction
    • Number of Credit card in circulation
    • Domestic Transaction Using Domestic Credit Card
    • International Transaction Using Domestic Credit Card
    • Domestic Transaction using International Credit Card
    • Sectoral Spending
  • Debit Cards
    • Value of transaction
    • Volume of transaction
    • Number of Debit card in circulation
    • Domestic Transaction Using Domestic Debit Card
    • International Transaction Using Domestic Debit Card
    • Domestic Transaction using International Debit Card
    • Sectoral Spending


Companies

Companies Covered in Turkey Card Market:

  • Issuers
    • Turkiye Cumhuriyeti Ziraat Bankasi AS
    • Turkiye Vakiflar Bankasi TAO
    • Turkiye Halk Bankasi AS
    • Denizbank
    • Yapi ve Kredi Bankasi AS
    • Turkiye Is Bankasi AS (Is bank)
    • Garanti Bankasi AS
    • Ak bank TAS
    • Finansbank AS
    • TEB AS
    • Seker Bankasi AS
    • HSBC Bank AS
    • Citigroup Inc
  • Operators
    • Visa Inc
    • MasterCard International Inc
    • American Express Co
    • Troy

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