July record in card payments: Contactless transaction volume exceeds 1 trillion TL threshold

The Interbank Card Center (BKM) has announced its card payment data for July. The data revealed that the increase in card usage in Turkey continues in terms of both payment volume and the number of transactions.

As of July, there are 151.7 million credit cards, 223.2 million debit cards, and 101.3 million prepaid cards in Turkey. Compared to the same period last year, the number of credit cards increased by 11 percent and the number of debit cards by 4 percent, while the number of prepaid cards decreased by 3 percent. The total number of cards increased by 4 percent to 476.2 million.

The total amount of payments made with credit cards, debit cards, and prepaid cards in July reached 2 trillion 974.9 billion TL, an increase of 37 percent on an annual basis. Of this amount, 2 trillion 541.8 billion TL was processed with credit cards, 425.8 billion TL with debit cards, and 7.3 billion TL with prepaid cards.

While payment volume increased by 38 percent for credit cards and 39 percent for debit cards, a 43 percent decrease was recorded for prepaid cards. The total number of payments made with cards also rose by 11 percent to 2 billion. Of these transactions, 1 billion 181.3 million were made with credit cards, 783.5 million with debit cards, and 33.2 million with prepaid cards.

INCREASE IN INTERNET AND CONTACTLESS PAYMENTS CONTINUES

The volume of card payments made over the internet increased by 34 percent annually in July to 908.9 billion TL. The share of online card payments in the total payment volume was calculated at 30 percent. The number of transactions reached 258.7 million, an increase of 11 percent.

A notable threshold was crossed in contactless payments. While the number of contactless payments made with cards increased by 9 percent to 1 billion 336.8 million, the contactless payment volume rose by 44 percent to 1 trillion 15.3 billion TL. In July, 4 out of every 5 card payments made in-store were performed contactlessly.

News Source: 12punto