Real-Time Payment Settlements to Dominate Payments Landscape in Turkey: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Payment is the transfer of value amid two parties. It may be used for a variety of purposes, including purchasing goods & services, to settle a legal obligation or to transfer funds between parties/ locations. It encompasses a wide range of activities such as paying with cash, writing a cheque, writing money overseas and paying for inventory via EDI. According to study, “Payments Landscape in Turkey: Opportunities and Risks to 2022” some of the major companies that are currently working in the payments landscape in Turkey are Ziraat Bank, VakifBank, DenizBank, YapiKredi, Isbank, Garanti Bank, Akbank, QNB Finansbank, Visa, MasterCard, American Express. Some payment systems are involved paper-based system, real-time gross settlement, real-time net settlement system and cards. Paper-based systems involve checks or drafts. Real-time net settlement or high-value payments, commonly called wire transfers. Real-time net settlement systems are processed in batches. Some key drivers of payment industry are involved real-time payments, distributed ledger technology/block-chain, expansion of payments to non-physical interfaces and unified platform etc. Some technologies disrupting the payments landscape: social payments, biometrics, machine learning, and pay-by-installment. Regulation has a major impact on business models: it is developed in different layers: sector, channel, and product. Some main points of the regulations are reduced customer liability, limited network exclusion, greater access to bank accounts & account information, ban on surcharges and reporting etc. Security involves objective elements and subjective elements: it refers to any system designed to ensure that contractors and sub-contractors are paid even in case of dispute. Some challenges for payment industry are involved new consumer behavior & needs, technology changes, regulatory pressure, and industry trends. New consumer behavior & needs are involved in cross-channel view, more payments, the expectation for frictionless and demand for more security. Technology changes are involved mobile, wallets, platform/architecture renewal, biometrics, and cybersecurity. Regulatory includes compliance, data privacy, open banking, and resiliency. Additionally, industry trends include cost reduction pressure, new trade corridors and instant payments. Turkey’s domestic payment card scheme introduced to increase competition in the Turkish payment card market. Currently, Troy (card payment system) is partnered with 26 banks to offer Troy-branded debit and credit cards in the country. Troy’s processing fee is lower than its competitors, making it more viable for small retailers to accept cards, boosting overall card acceptance in the process. The Turkish government increased the maximum monthly credit card interest rate limit to curb rising consumer credit card debt. In 2017, the monthly maximum contractual interest rate for the Turkish lira was 1.84% and the maximum monthly overdue interest rate was 2.34%. In 2018, the value of the monthly maximum contractual interest rate is 2.02% and the maximum monthly overdue interest rate is 2.52%. In June 2018, UnionPay International signed an agreement with YapiKredi to help Chinese tourists make electronic payments. As per the agreement, Chinese tourists visiting Turkey can use their UnionPay cards to make payments at 350,000 in-store merchants and 2,000 online YapiKredi merchants. They can also withdraw funds at the bank’s 4,000 ATMs. Approximately 400,000 Chinese tourists are expected to visit Turkey. This collaboration will help YapiKredi attract more users and thus boost the overall Turkish payment card market. To know more, click on the link below:- https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/payments-landscape-turkey/157255-93.html Related Reports by Ken Research:- https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/payments-landscape-indonesia/171829-93.html https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/payments-landscape-estonia/157256-93.html Contact Us:- Ken Research Ankur Gupta, Head Marketing & Communications Sales@kenresearch.com +91-9015378249 Tags: cards and Payments Industry in Turkey, cards and Payments Market in Turkey, Payments Industry in Turkey, Payments Market in Turkey, Turkey Cards and Payments Industry Research Report, Turkey Cards and Payments Market Analysis, Turkey Cards and Payments Market Growth, Turkey Cards and Payments Market Opportunities, Turkey Cards and Payments Market Research Report, Turkey Cards and Payments Market Share, Turkey Cards and Payments Market Size, Turkey Digital Payments Market Forecast, Turkey Payments Market Leading Players, Türkiye Kartları ve Ödemeleri Pazar Büyümesi, Türkiye Kartları ve Ödemeleri Piyasa Analizi, Türkiye Kartları ve Ödemeleri Piyasası Büyüklüğü, Türkiye Ödemeler Piyasası Lider Oyuncular, Türkiye'de kart ve ödeme sektörü, Türkiye'de kartlar ve Ödemeler Piyasası, Türkiye'de Ödeme Sektöründe, Türkiye'deki Pay Piyasası