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Prospects and Dangers in Turkey’s Playing cards and Payments Sector to 2024

3 min read
Prospects and Dangers in Turkey’s Playing cards and Payments Sector to 2024
Prospects and Dangers in Turkey’s Playing cards and Payments Sector to 2024

Push launch information from Company Wire. The AP news personnel was not included in its development.

DUBLIN–(Business WIRE)–Jan 4, 2021–

The “Turkey Cards and Payments – Options and Dangers to 2024” report has been additional to ResearchAndMarkets.com’s featuring.

The report supplies in depth examination of market trends in the Turkish playing cards and payments field. It presents values and volumes for a variety of essential general performance indicators in the market, together with playing cards, credit history transfers, and cheques through the critique-period (2016-20e).

The report also analyzes different payment card marketplaces working in the market, and presents comprehensive information and facts on the quantity of playing cards in circulation, transaction values and volumes throughout the overview-period of time and around the forecast-period (2020e-24f). It also provides information on the country’s competitive landscape, including the current market shares of issuers and schemes.

The report also handles information of regulatory plan and current improvements in the regulatory framework.

This report offers best-stage current market investigation, facts and insights into the Turkish cards and payments marketplace, which include –

  • Recent and forecast values for every marketplace in the Turkish cards and payments marketplace, together with debit and credit score playing cards.
  • Detailed insights into payment devices which includes cards, credit history transfers, and cheques. It also, features an overview of the country’s key alternative payment instruments.
  • E-commerce market analysis.
  • Examination of different marketplace motorists and restrictions governing the Turkish cards and payments field.
  • Detailed analysis of tactics adopted by banking companies and other institutions to current market debit and credit history playing cards.

Scope of the report:

  • The Turkish payment current market aims to develop into cashless by 2023. To this stop, Turkish financial authorities are introducing several initiatives to push digital payments, like a standardized countrywide QR code called Turkish QR Code in August 2020. In the meantime, domestic card scheme TROY was released in April 2016. This sort of initiatives have resulted in amazing progress in the payment place in the course of the assessment time period.
  • The awareness and utilization of contactless payment playing cards in Turkey is substantial, with the quantity of contactless payment playing cards rising from 30.6 million in 2016 to 89.6 million in 2020 at a powerful assessment-time period CAGR of 30.8%. This determine is anticipated to rise further more to 176.3 million by 2024. The wide acceptance network for contactless payments is driving this sector.
  • COVID-19 has resulted in a widespread loss of cash flow and work and a decrease in buyer investing, in flip affecting the credit score card marketplace. In reaction, in April 2020 the Central Bank of the Republic of Turkey decreased the greatest fascination rate on credit score card borrowing to 1.25% per thirty day period, down from 1.60% in Q4 2019. The minimized price will remain in outcome pending even further assessments by the central lender. Similarly, in March 2020 the central bank reduced the minimum amount payment volume for credit rating cards from 30% to 20%.

Critical Matters Included:

  • Payment Instruments
  • Card-centered Payments
  • Merchant Obtaining
  • E-commerce Payments
  • Invest in Now Shell out Later
  • Cell Proximity Payments
  • P2P Payments
  • Monthly bill Payments
  • Choice Payments
  • Job Evaluation
  • Payment Improvements
  • Payment Infrastructure & Regulation

Organizations Outlined

  • Ziraat Bank
  • Vakif Financial institution
  • DenizBank
  • Halkbank
  • Visa
  • Mastercard
  • TROY
  • American Categorical
  • BKM Specific
  • Papara
  • Paycell
  • Yapi Kredi Wallet
  • paysafecard
  • Bonuspay
  • Masterpass

For additional information about this report check out https://www.researchandmarkets.com/r/nfkzfr

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world’s major source for international industry research experiences and current market facts. We present you with the newest facts on global and regional marketplaces, important industries, the prime organizations, new products and the most up-to-date developments.

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Search phrase: TURKEY EUROPE

Industry Key word: RETAIL BANKING Qualified Services OTHER RETAIL

Supply: Exploration and Marketplaces

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PUB: 01/04/2021 11:34 AM/DISC: 01/04/2021 11:34 AM

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