Everything you need to know about payments in Turkey

turkey payments

Considered one of the front runners to become the first cash-free state, Turkey's BKM (Interbank Card Center of Turkey) has declared the aim of ridding Turkey of cash by 2023, the 100th anniversary of the founding of the turkish state.Turkey's mobile operator, turkcell, was the first in the world to introduce an nfc enabled smartphone.

Here's a compilation of useful resources about this key market.

 

Turkey and ecommerce – top 5 reasons why it’s one to watch.

eCommerce growth is driven by investment in ICT infrastructure, internet penetration, customer connectivity demand, reliability of eContract and fulfillment backed by a strong logistics market.

Turkey is host to a credit-driven economy and efficient logistics, making it an ideal market for an eCommerce explosion. Commerce is rapidly moving online as eTransactions are trusted, creating a digital marketplace and driving consumer uptake.

 

Case study: BKM’s digital wallet platform

Turkey's Digital Wallet "express" introduced with its unique functions

BKM (Interbank Card Center of Turkey) has launched "express" digital wallet platform for all cardholders to make e-commerce purchases easier and faster. This new payment system of BKM, called "express" removes the obligation of sharing card information in e-commerce.

 

Internet and mobile banking statistics from The Banks Association of Turkey

A comprehensive statistical overview of internet an mobile banking in Turkey as of June 2012.

 

Turkey and mobile payments:

How far has Turkey come in introducing mobile payments?

 

Download an overview of mobile banking in turkey from Eurasia insights

On the way up
A young increasingly affluent population, rapidly migrating to online commerce, is enabling the deployment of a wide range of mobile financial services

Contactless trial?
The experience of contactless cards has been useful for those banks that have tried them. With take-up and transaction volumes lower than anticipated, the extent of the challenge facing banks to promote consumer take-up and improve merchant acceptance has been brought home.

 

Hopefully that's been helpful! Is the Turkish market on your radar? Let me know below…

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