Research By Markets adds Market Research Report - Turkey Cards & Payments: Opportunities and Risks to 2023
For detailed information: https://www.researchbymarkets.com/report/turkey-cards-payments-opportunities-and-risks-to-2023-538217.html
Turkey Cards & Payments: Opportunities and Risks to 2023
‘Turkey Cards & Payments: Opportunities and Risks to 2023’ report provides detailed analysis of market trends in Turkey’s cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards, credit transfers, and cheques during the review-period (2015-19e).
The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2019e-23f). It also offers information on the country’s competitive landscape, including market shares of issuers and schemes.
The report brings together research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.
‘Turkey Cards & Payments: Opportunities and Risks to 2023’ report provides top-level market analysis, information and insights into Turkey’s cards and payments industry, including –
– Current and forecast values for each market in Turkey’s cards and payments industry, including debit and credit cards.
– Detailed insights into payment instruments including cards, credit transfers, and cheques. It also, includes an overview of the country’s key alternative payment instruments.
– E-commerce market analysis.
– Analysis of various market drivers and regulations governing Turkey’s cards and payments industry.
– Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
– Credit card usage for payments will be further accelerated by revised credit card regulations introduced in June 2019. As per the Banking Regulation and Supervision Agency’s (BRSA) new guidelines, credit card purchases can be made in up to 18 monthly installments depending on the product type. The BRSA also made amendments to monthly minimum payments based on card limits. For credit cards with a limit of up to TRY15,000 ($2,836.35) the minimum payment remained unchanged at 30%. For cards with a limit of TRY15,000 to TRY20,000 ($3,781.80) the minimum payment was reduced from 35% to 30%. For cards with a credit limit of over TRY20,000 the minimum payment was reduced from 40% to 30%.
– To encourage contactless payments, the Interbank Card Center (BankalararasÄ± Kart Merkezi [BKM]) increased the cap on contactless payments from TRY90 ($17.02) to TRY120 ($22.69) effective from August 1, 2019. According to BKM, the volume of monthly contactless transactions increased by 30% to reach 1.3 million in June 2019 compared to March 2019. Meanwhile, monthly transaction value increased by 26% to reach TRY1.3bn ($245.82m) over the same period. Contactless technology is gradually being extended to public transport. In May 2019, KahramanmaraÅ Metropolitan Municipality and ticketing solutions provider E-Kent implemented new payment solutions allowing commuters to make fare payments using the KahramanKart mobile app and contactless debit cards.
– To increase competition in the Turkish payment card market, BKM introduced domestic card scheme Troy in April 2016. Troy partnered with 29 banks to offer Troy-branded debit and credit cards in the country. Troy’s processing fee is lower than its competitors, making it more viable for small retailers to accept cards, boosting overall card acceptance in the process. For international acceptance of Troy payment cards, BKM partnered with Discover Financial Services in November 2017. The agreement enables Troy payment card holders to conduct transactions globally over the Discover Global Network. The agreement also enables acceptance of Discover and Diners Club payment cards in Turkey at all locations where Troy is accepted.
Reasons to buy
– Make strategic business decisions, using top-level historic and forecast market data, related to Turkey’s cards and payments industry and each market within it.
– Understand the key market trends and growth opportunities in Turkey’s cards and payments industry.
– Assess the competitive dynamics in Turkey’s cards and payments industry.
– Gain insights into marketing strategies used for various card types in Turkey.
– Gain insights into key regulations governing Turkey’s cards and payments industry.
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