The total number of cards in Turkey reached 332.3 million.
According to the estimations of the Interbank Card Center (BKM), payments made by cards in October 2022 increased by 129 percent compared to the same period of 2021, reaching 377.4 billion TL.
According to BKM, end of October results 96.8 million credit cards, 166.7 million debit cards and 68.8 million prepaid cards are used in Turkey. According to October 2021, 17 percent of the number of credit cards, 13 percent of the number of debit cards, and 26 percent of the prepaid cards were recorded. The total number of cards reached 332.3 million, an increase of 17 percent compared to the same prices of the previous year.
Total payment distributions made last month with credit cards, debit cards and prepaid cards amounted to TL 377.4 billion. While 298 billion TL of these payments are made with credit cards, 72.5 billion TL is debit cards and 6.9 billion TL is prepaid cards.
INCREASED TO 8.9 MILLION
Compared to the same expectations, growth in credit card payments was 123 percent last year, and 158 percent in debit card payments. This rate was 118 percent for payments made with prepaid cards.
The number of commercial credit cards, which provide great convenience to business owners in payments, reached 8.9 million at the end of October. Payment terms made with commercial credit cards, on the other hand, increased by 129 percent compared to the same period of the previous year and reached TL 97.8 billion. Payments made with commercial credit cards increased to 33 percent in total credit card payments compared to the previous year, and 1 TL of 3 TL credit card payments was made with commercial credit cards.
The number of contactless payments after October increased by 67 percent compared to previous years and reached 649 million. After October, 69 percent of in-store payments, 2 out of 3 card payments, were made contactless. The number of daily contactless payments also exceeded 20 million.
PRIORITY SAFETY
Tarık Tombul, CEO of PayTR, a payment institution that offers cost-effective products and solutions developed by Turkish engineers, drew attention to the rapid use of digital access and added:
“In a world where we have reached the highest levels of online trade volume, the issue of cyber security is the most important agenda. Internet users may encounter dangers such as handling, use or disclosure of user information. It is very important to prevent fraudulent transactions when electronic coercion is carried out.”
‘FINANCIAL LITERACY’ WILL BE TOLD TO TEACHERS
Financial literacy training for teachers started with the cooperation of the Turkish Economy Bank (TEB) and the Ministry of National Education (MEB). In the trainings to be given under the roof of TEB Family Academy in the trainings of TEB 10 years ago, it is aimed to reach the teachers working in the Ministry of National Education.
Financial literacy is introduced, educational content in video format is prepared. Financial literacy issues will be covered with 100 comments and 10 videos. TEB organized trainings on topics such as blockchain, fintech, settlement and digital transformation, which stand out among new financial technologies. More than 6,500 students participated in these trainings, and more than 250 thousand young people attended digital trainings.
TRAINING CONTINUES
The Association of Payment and Electronic Money Institutions of Turkey (TÖDEB) continues its trainings under the roof of TÖDEB Academy in order to increase the industrial usage capacity.
In the first stage, TÖDEB Academy, which aims to present its trainings to the study of its member structure, consists of three trainings:
1. Implications of Sub-Regulations on Payment and Electronic Money Institutions.
2. Obligation to Create Compliance Program.
3. Facilitate the Operation of Payment and Electronic Money Institutions.
PARAM BRINGS THUNES TO TURKEY
Breaking new ground in the fintech industry in Turkey, Param was among the results of the Destination Stars event held in Istanbul. Organized by Thunes, one of the leading companies in the world’s fintech industry with its global payment network clusters, the event focused on experiences and the new service awaiting industry players.
“As the market leader and preferred partner in digital payment services worldwide, Thunes, structured by Param, has been in business since 2016. We are working so that the end of my money can make instant international transfers to bank accounts and digital ledgers in Thunes, taking advantage of its 130-country payment network. Param will also open the Turkish market for Thunes’ existing financial network. There is no excitement to host Thunes in Turkey.
TRANSFER TRACKING IN A SINGLE APPLICATION
Paymes succeeded in implementing the money order collection system that works integrated with many banks specific to the e-commerce sector.
With the new application, it provides access to a large number of different bank accounts, allowing single payments and all payments to be tracked and obtained online. Paymes remittance collection system is a system that acts as a bridge for the communication of your accounts with your e-commerce platforms and ERP systems.
ENTREPRENEUR IS ON THE WAY TO ENGLAND WITH A CLICK
Wamo, the financial services platform that provides services to SMEs and entrepreneurs in the UK and Europe, will now be the entry solution partner from Turkey that wants to expand abroad. With the platform, entrepreneurs in Turkey will be able to establish businesses and open corporate accounts in England within 48 hours over the internet.
Users will be able to set up companies and open a corporate Euro and Sterling account in 15 minutes via Wamo.