Card Payments Hit 1.27 Trillion Lira in June
Interbank Card Center (BKM) has released new data on card payments for the month of June, revealing significant growth in card usage in Turkey.
The report states that as of June, the number of credit cards in Turkey has risen to 124.1 million, bank cards to 191.8 million, and prepaid cards to 96 million. This marks an annual increase of 15 percent in credit cards, 7 percent in bank cards, and 20 percent in prepaid cards. Overall, the total number of cards has increased by 12 percent compared to the previous year, reaching a total of 411.9 million.
In terms of total payment amounts, transactions made with credit cards, debit cards, and prepaid cards in June have increased by 98 percent compared to the same month last year, totaling 1.27 trillion lira. Of this total, 1 trillion 57 billion lira was spent via credit cards, 186.2 billion lira via bank cards, and 24.6 billion lira via prepaid cards. The growth rate was 105 percent for credit cards, 65 percent for bank cards, and 132 percent for prepaid cards.
Notably, online card payments have seen a significant increase, reaching 349.7 billion lira in June. This represents a 101 percent growth compared to the previous year, with online card payments accounting for 27 percent of the total payment amount. The number of online card transactions has also risen by 11 percent, reaching 207.2 million.
Furthermore, contactless payments have become increasingly popular, with the amount of contactless payments made with cards reaching 409.4 billion lira. In fact, nearly 80 percent of all in-store card payments in June were contactless transactions.
Overall, these statistics point to a growing trend of digital and contactless payments in Turkey, reflecting changes in consumer behavior and preferences. As card usage continues to rise, it will be interesting to see how the payment landscape evolves in the coming months.
