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 research note, 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.
2. 2015 Mercator Advisory Group
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.
Country Payments Market Profile: Turkey
3. 2015 Mercator Advisory Group
“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.
Tristan Hugo-Webb
Associate Director
International Advisory Service
Mercator Advisory Group
4. 2015 Mercator Advisory Group
• 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.
Highlights of the Note:
5. Fiure 1: DDA Ownership Across Africa, 2013E
2014 Mercator Advisory Group
Source: Mercator Advisory Group Estimates based
on World Bank historical data
6. About the Note:
2015 Mercator Advisory Group
This research note contains 12 pages and 6 exhibits.
Companies mentioned in this note include: MasterCard, Provus, Garanti Bank,
Turkcell.
Members of Mercator Advisory Group’s International 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, send email to media@mercatoradvisorygroup.com.
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www.PaymentsJournal.com.
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7. 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.
2015 Mercator Advisory Group