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Turkey economic and banking market trends

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2026-09-17 17:17 UTC → 2026-10-06 21:48 UTC · added ~~removed~~

Turkey economic and ~~tourism~~ banking market trends

Turkey continues to expand its digital payment ecosystem, solidifying its position as Europe’s largest credit card market. Recent data from the Interbank Card Center (BKM) shows that total card payments reached approximately 2.99 trillion TL in August, representing a 39% increase compared to the previous year. This growth was driven by a 40% year-on-year rise in both credit card payments (2.537 trillion TL) and bank card payments (445.9 billion TL). Conversely, prepaid card payments saw a 43% decline, falling to 7.5 billion TL. Transaction volumes are also rising, with total card transactions increasing by 11% to nearly 2 billion. Online card payments specifically grew by 41%, reaching 923.9 billion TL, which represents 30% of total card spending. Contactless transactions also experienced significant growth, with the total amount increasing 42% to over 1 trillion TL. The total number of cards in circulation has climbed to 478 million, including 153.4 million credit cards and 224.5 million bank cards. In the broader banking sector, the Banking Regulation and Supervision Agency (BDDK) reported that total credit volume rose to over 28 trillion TL, with individual credit card receivables reaching approximately 3.497 trillion TL. Additionally, the Central Bank of the Republic of Türkiye (TCMB) noted that total banking sector deposits increased to over 33 trillion TL for the week ending September 11. ~~As digitalization accelerates, security experts have issued warnings regarding increased risks~~ New regulatory updates from cybercriminals. Vulnerabilities include high-risk password habits, such as using birth dates or repetitive sequences like ‘0000’. To mitigate information skimming and fraud, experts advise consumers to perform contactless payments personally, verify POS terminal amounts against receipts, the BDDK have adjusted credit card and ~~utilize virtual~~ financing rules. The threshold for determining minimum payment rates has been raised; cards with ~~set~~ limits between 50,000 TL and 100,000 TL will now require a 20% minimum payment, whereas previously, cards exceeding 50,000 TL required 40%. Furthermore, new rules allow for ~~online shopping.~~ 12-month installments on mobile phones priced up to 40,000 TL and refurbished devices up to 50,000 TL.

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