Turkey’s Payments Market Is a Mix of Development and Opportunities

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Mercator Advisory Group releases new research highlighting the potential for the payments industry in Turkey

One of the 6 exhibits included in this note

Moving forward, Mercator Advisory Group expects the Turkish market to garner attention from the global payments industry, particularly within mobile payment and e-commerce.

Situated between Europe and Asia, Turkey has been the crossroads for empires, ideas and technology, and now the modern payments industry. This cross-pollination has led to a unique payments marketplace with characteristics of both mature European markets and developing Asian payments markets. According to Mercator Advisory Group’s latest research, Country Payments Market Profile: Turkey, the country exhibits significant use of electronic payments like mature markets but has had high growth rates in recent years that align with growth seen in many Asian and other developing markets.

Regardless of this mixed maturity, Turkey is one of the most exciting payments markets and holds the potential of becoming a leading source of innovation and growth for the global payments industry.

“Moving forward, Mercator Advisory Group expects the Turkish market to garner attention from the global payments industry, particularly within mobile payment and e-commerce as these segments have the most potential and are expected to undergo the most innovation and change in the next few years. That being said, there is still plenty of room for growth within the traditional retail banking and payment cards segments, which will certainly attract investment and further acquisitions of domestic players from international industry participants,” comments Tristan Hugo-Webb, Associate Director of the Global Payments Advisory Service and the author of the note.

Highlights of the note include:

  • An overview of the retail banking segment in Turkey with detailed data on branch and ATM deployment in the country between 2009 and 2013.
  • A review of the electronic payment segment in Turkey with an in-depth look at payment card issuance, use, and the existing point-of-sale acceptance network between 2009 and 2013.
  • Examination of emerging technologies and new segments like mobile payments and e-commerce within Turkey.

This note contains 12 pages and 6 exhibits.

Companies mentioned in this note include: MasterCard, Provus, Garanti Bank, Turkcell.

Members of Mercator Advisory Group’s Global Payments Advisory Service have access to these notes as well as the upcoming research for the year ahead, presentations, analyst access, and other membership benefits.

For more information and media inquiries, please call Mercator Advisory Group's main line: (781) 419-1700.

For free industry news, opinions, research, company information and more visit us at http://www.PaymentsJournal.com.

About Mercator Advisory Group
Mercator Advisory Group is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.

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Emily Bergeron
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