Payment methods in Turkey

Let’s go to #Turkey 🇹🇷 ! A little walk to discover all the payment methods in Turkey.

Nuggets unearthed locally, global actors working there, different types of payment methods.

In 2022, Turkey had a population of over 85 million, and its e-commerce turnover was €14.9bn (2021).



Payment by card 

  • There are 82.8 million credit cards inTurkey, placing it 7th globally for credit card usage. In terms of the number of credit card transactions, Turkey ranks 9thin the world. The Troy card is a product of the InterbankCard Center (BKM) and was introduced in2016 as an alternative to Visa andMastercard. Troy cards are currently accepted by 40% of Turkish merchants.

  • With local actor such as:
    • Troy

Payment by bank transfer

  • Netbanking is a serious contender with Visa and Mastercard, as the Government ofTurkey is pushing it and it has lower fees.With Netbanking the shopper is redirected to their bank at checkout to confirm their merchant payment or via QR-code-based schemes, such as Union Pay where the shopper initiates and completes the bank transfer via their mobile device.

  • With local actors such as:
    • Fast
    • PeP
    • iyzico
    • Colendi

Payment by installment and BNPL

  • Turkey’s consumers also prefer installment payments. Installments (deferred payments) make up 8% of all transactions. The majority of installment or BNPL services are through cards issued byTurkish banks: Bonus, Worldcard, Maksimum, Cardfinans, Paraf, Axess orAdvantage.

  • With local actors such as:
    • Colendi
    • Garanti Pay

Payment by digital wallet and X-Pay

  • While card payments continue to dominate online sales, the digital wallet, is forecasted to grow from 6% to 10% of transactions by2023. BKM Express is Turkey’s oldest and most popular digital wallet, with 1.6 million users sand 21% of the non-cash payment market.

  • With local actors such as:
    • BKM Express
    • Exenpay
    • iyzico
    • papara
    • YapiKredi
    • Garanti
    • ininal
    • PayCell



Payment methods in Turkey interest you?

Do you want more? Access to the #PayWorldTour library