Card Payments in Turkey Surge 57% in May, E-Commerce and Contactless Drive Growth

Digital payment adoption in Turkey continues to grow rapidly, as card-based transactions hit a record-breaking 1.99 trillion TL in May 2024, according to the Interbank Card Center (BKM). This marks a 57% increase year-over-year, highlighting the country’s accelerating shift toward cashless and contactless payment methods.

The data reveals that Turkish consumers carried out 1.79 billion card transactions in May, a 13% rise compared to the same month last year. Of these, credit cards accounted for 1.02 billion payments, followed by bank cards with 692.5 million and prepaid cards with 77.5 million transactions.

While credit card usage rose by 14%, bank card transactions surged by 22%. In contrast, prepaid card transactions dropped by 34%, suggesting a shift in consumer preference toward traditional bank-backed cards for larger purchases.

A deeper look into payment volume shows that credit cards dominated the market, handling 1.698 trillion TL in payments. Bank cards followed with 275.7 billion TL, and prepaid cards trailed at 19.4 billion TL. Compared to the previous year, spending via credit cards jumped 58%, bank cards 56%, while prepaid card spending fell by 17%.

Contactless payment emerged as a dominant mode, with 4 out of every 5 in-store card transactions made without physical contact. What began as a pandemic-driven trend has now become a mainstay of consumer behavior.

Meanwhile, online spending soared, with e-commerce transactions reaching 617 billion TL, representing a 65% year-over-year growth. This shift reflects a steady migration of consumer habits from physical stores to digital marketplaces.

In parallel, the total number of cards issued in Turkey surpassed 450 million in May 2024. This includes 134.3 million credit cards, 213.4 million bank cards, and 102.6 million prepaid cards. Year-on-year, the number of:

• Credit cards grew by 9%,

• Bank cards by 11%, and

• Prepaid cards by 8%,
  bringing total card circulation up by 10% overall.

This strong growth across digital payments and card issuance reflects a transformative shift in Turkey’s financial behavior, driven by both technological convenience and changing consumer expectations.