Emerging Opportunities in the Turkey's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape

Date: December 14, 2012
Pages: 87
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US$ 4,495.00
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Publisher: Timetric
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: E99407230BBEN
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Emerging Opportunities in the Turkey's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape
Synopsis

The report provides market analysis, information and insights into Turkey's cards and payments industry, including:
  • Current and forecast values for each segment of Turkey's cards and payments industry including debit cards, credit cards, prepaid cards and charge cards
  • Comprehensive analysis of the industry’s market attractiveness and future growth areas
  • Analysis of various market drivers and regulations governing Turkey's cards and payments industry
  • Detailed analysis of the marketing strategies adopted for selling prepaid cards used by various bankers and other institutions in the market
  • Comprehensive analysis of consumer attitudes and their buying preferences for cards
  • Competitive landscape of Turkey's cards and payments industry
Summary

The cards and payments industry in Turkey demonstrated robust growth during the review period (2008–2012). In terms of volume, the industry grew at a compound annual growth rate (CAGR) of 8.58%, to reach 144.5 million cards in 2012. The increasing acceptance of cards in retail outlets, growing consumer preference for cashless transactions and improved banking infrastructure has contributed to the review period growth. The industry size in terms of volume is expected to grow at a CAGR of 4.38% over the forecast period (2013–2017), to reach 183.8 million cards in 2017. While cash continues to be an important part of the overall payments system, it is increasingly being displaced by the cards payments channel. To capitalize on consumer preferences, banks and card issuers have adopted various marketing and pricing strategies to encourage customers to increase card payments. Common strategies include offers, product discounts, reward points and insurance coverage. A complete cashless payment system is planned by 2023. To encourage consumers to opt for card payments, the Interbank Card Center of Turkey (BKM) launched the ‘Bye Bye Cash’ campaign across media and social networking sites to promote card payments as a more effective payment method. With campaigns such and initiatives from the Turkish authorities, an increase in card transaction volume is projected to increase over the forecast period.

Scope
  • This report provides a comprehensive analysis of Turkey's cards and payments industry
  • It provides current values for Turkey's cards and payments industry for 2012 and forecast figures for 2017
  • It details the different macroeconomic, infrastructural, consumer and business drivers affecting Turkey's cards and payments industry
  • It outlines the current regulatory framework in the industry
  • It details the marketing strategies used by various bankers and other institutions
  • It profiles the major banks in Turkey's cards and payments industry
Reasons To Buy
  • Make strategic business decisions using historic and forecast market data related to Turkey's cards and payments industry and each market within it
  • Understand the key market trends and growth opportunities within Turkey's cards and payments industry
  • Assess the competitive dynamics in Turkey's cards and payments industry
  • Gain insights into the marketing strategies used for selling various types of cards in Turkey
  • Gain insights into key regulations governing Turkey's cards and payment industry
Key Highlights
  • The cards and payments industry in Turkey demonstrated robust growth during the review period (2008–2012). In terms of volume, the industry grew at a compound annual growth rate (CAGR) of 8.58%, to reach 144.5 million cards in 2012.
  • The increasing acceptance of cards in retail outlets, growing consumer preference for cashless transactions and improved banking infrastructure has contributed to the review period growth.
  • The industry size in terms of volume is expected to grow at a CAGR of 4.38% over the forecast period (2013–2017), to reach 183.8 million cards in 2017.
  • While cash continues to be an important part of the overall payments system, it is increasingly being displaced by the cards payments channel. To capitalize on consumer preferences, banks and card issuers have adopted various marketing and pricing strategies to encourage customers to increase card payments.
  • Common strategies include offers, product discounts, reward points and insurance coverage. A complete cashless payment system is planned by 2023.
1 EXECUTIVE SUMMARY

2 ATTRACTIVENESS AND FUTURE PROSPECTS OF CARDS AND PAYMENTS INDUSTRY

3 ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS

3.1 Infrastructure Drivers
  3.1.1 Near field communication (NFC)-enabled SIM cards
  3.1.2 Biometric ATMs
  3.1.3 Mobile Wallet
  3.1.4 Technologically enhanced security features
  3.1.5 Growing number of ATMs
  3.1.6 Increasing installation of POSs
3.2 Business Drivers
  3.2.1 Retail industry dynamics
  3.2.2 Increasing campaigns for cashless payment system
  3.2.3 Growing travel and tourism
  3.2.4 Rising e-commerce sales
  3.2.5 Increasing competition
3.3 Consumer Drivers
  3.3.1 Increased penetration of technologically literate youth
  3.3.2 Rising per capita annual disposable income
  3.3.3 Urban vs. rural population
  3.3.4 Changing consumer lifestyle and preference for cashless payments
  3.3.5 Significant growth in economically active population
3.4 Card Fraud Statistics
3.5 Regulatory Framework

4 EMERGING CONSUMER ATTITUDES AND TRENDS

4.1 Market Segmentation and Targeting
  4.1.1 Retail customers
  4.1.2 Corporate customers
4.2 Consumer Preference – Price, Convenience, and Services
  4.2.1 Price
  4.2.2 Services
  4.2.3 Convenience
4.3 Online Buying Behavior
4.4 Preferred Payment Methods

5 COMPETITIVE LANDSCAPE AND INDUSTRY DYNAMICS

5.1 Debit Cards Category Share
  5.1.1 By bank
  5.1.2 By scheme
5.2 Credit Cards Category Share
  5.2.1 By bank
  5.2.2 By scheme

6 STRATEGIES ADOPTED BY KEY COMPETITORS

6.1 Market Entry Strategies
6.2 Marketing/Product Strategy
  6.2.1 Debit cards
  6.2.2 Credit cards
  6.2.3 Prepaid cards
6.3 Pricing Strategies

7 INDUSTRY SIZE AND GROWTH POTENTIAL OF CARDS AND PAYMENTS

7.1 Industry Share Analysis by Type of Card
7.2 Total Size and Forecast of Cards and Payments Industry
  7.2.1 Analysis by number of cards
  7.2.2 Analysis by transaction value
  7.2.3 Analysis by transaction volume
7.3 Credit Card Category Size and Forecast
  7.3.1 Analysis by number of cards
  7.3.2 Analysis by transaction value
  7.3.3 Analysis by transaction volume
  7.3.4 Other key performance indicators
7.4 Debit Card Category Size and Forecast
  7.4.1 Analysis by number of cards
  7.4.2 Analysis by transaction value
  7.4.3 Analysis by transaction volume
  7.4.4 Other key performance indicators
7.5 Prepaid Card Category Size and Forecast
  7.5.1 Analysis by number of cards
  7.5.2 Analysis by segments – open-loop cards and closed-loop cards
  7.5.3 Analysis by transaction value

8 COMPANY PROFILES, PRODUCT, AND MARKETING STRATEGIES

8.1 T.C. Ziraat Bankasi A.Ş.
  8.1.1 Strategies
  8.1.2 Credit card offered
  8.1.3 Debit cards offered
  8.1.4 Financial performance
8.2 Yapi ve Kredi Bankasi A.Ş.
  8.2.1 Strategies
  8.2.2 Credit card offered
  8.2.3 Debit card offered
  8.2.4 Prepaid card offered
  8.2.5 Financial performance
8.3 T. Garanti Bank A.Ş.
  8.3.1 Strategies
  8.3.2 Credit card offered
  8.3.3 Debit card offered
  8.3.4 Financial performance
8.4 Akbank T.A.Ş.
  8.4.1 Strategies
  8.4.2 Credit card offered
  8.4.3 Financial performance

9 APPENDIX

9.1 Methodology
9.2 Definitions
9.3 Contact Us
9.4 About Timetric
  9.4.1 Our Approach
9.5 Services
9.6 Disclaimer

LIST OF FIGURES

Figure 1: Growth Potential of Turkish Cards and Payments Industry by Area of Usage
Figure 2: Turkish Cards and Payments Industry Drivers
Figure 3: Turkish Number of ATMs (Thousand), 2008–2017
Figure 4: Turkish Number of Point-of-Sale Terminals (Thousands), 2008–2017
Figure 5: Retail Sales Value in Turkey (TRY Billion), 2008–2017
Figure 6: Tourist Volume in Turkey (Million), 2008–2017
Figure 7: E-Commerce Sales and Internet Penetration, 2008–2012
Figure 8: Banking Industry Landscape in Turkey (Number of Banks), 2012
Figure 9: Turkish Population Segmentation by Age (Million), 2011
Figure 10: Turkish Annual Per Capita Disposable Income (TRY) 2008–2012
Figure 11: Turkish Urban and Rural Population (%), 2008–2012
Figure 12: Turkish Population Distribution by Age Group (%), 2007–2011
Figure 13: Turkish Card Fraud Statistics by Channel (TRY Million), 2008–2017
Figure 14: Turkish Cards and Payments Industry Segmentation by Card Type
Figure 15: Turkish Youth and Student Population (%), 2011
Figure 16: Turkish Leisure Tourists Volume (In Million), 2008–2017
Figure 17: Turkish Cards For High Income Group
Figure 18: Turkish Male and Female Population (% of Total Population), 2008–2012
Figure 19: Corporate Cards in Turkey
Figure 20: Consumer Preferences for Various Types of Cards
Figure 21: Online Buying Trends and Forecast, 2011
Figure 22: Payment Methods Used by Turkish Online Consumers – 2011
Figure 23: Turkish Debit Card Category Share by Banks (Number of Cards), 2011
Figure 24: Turkish Debit Card Share by Schemes (Number of Cards), 2011
Figure 25: Turkish Credit Card Category Share by Banks (Number of Cards), 2011
Figure 26: Turkish Credit Card Category Share by Scheme (Number of Cards), 2011
Figure 27: Domestic and Foreign Banks in Turkey
Figure 28: Marketing Entry Strategies of Multinational Banks in Turkey
Figure 29: Marketing and Product Strategies Based on Card Type
Figure 30: Number of Debit Cards Offered in Turkey, 2008–2017
Figure 31: Bank’s Debit Card Product Portfolio (in Thousands), 2007–2011
Figure 32: Debit Cards for Students and Youth in Turkey
Figure 33: Debit Card Pricing Strategies of Various Banks
Figure 34: Turkish Cards and Payments Industry by Type of Cards (%), 2008–2017
Figure 35: Turkish Cards and Payments Industry Size by Volume (Thousands), 2008–2017
Figure 36: Turkish Cards and Payments Industry Size by Transaction Value (TRY Million), 2008–2017
Figure 37: Turkish Cards and Payments Industry Size by Transaction Volume (Million), 2008–2017
Figure 38: Turkish Credit Card Category Size by Volume (Thousands), 2008–2017
Figure 39: Turkish Credit Card Category Size by Transaction Value (TRY Million), 2008–2017
Figure 40: Turkish Credit Card Category Size by Transaction Volume (Million), 2008–2017
Figure 41: Turkish Credit Card Category Size by Frequency of Use (Transaction/Card/Year), 2008–2017
Figure 42: Turkish Debit Card Category Size (Thousands), 2008–2017
Figure 43: Turkish Debit Card Category Size (TRY Million), 2008–2017
Figure 44: Turkish Debit Card Category Size by Transaction Volume (Million), 2008–2017
Figure 45: Turkish Debit Card Category Size by Frequency of Use, 2008–2017
Figure 46: Debit Card Usage ATM and POS (Million), 2008–2017
Figure 47: Turkish Prepaid Card Category Size (Thousand), 2008–2017
Figure 48: Turkish Open-Loop Prepaid Card Segment Size (Thousand), 2008–2017
Figure 49: Turkish Closed-Loop Prepaid Card Segment Size (Thousand), 2008–2017
Figure 50: Turkish Prepaid Card Category Size (TRY Million), 2008–2017
Figure 51: Ziraat Bank Market Segmentation of Cards Offered
Figure 52: Yapi Kredi Market Segmentation of Cards Offered
Figure 53: Yapi Kredi’s New Mobile Banking Application
Figure 54: Garanti Bank Market Segmentation of Cards Offered
Figure 55: Akbank Market Segmentation of Cards Offered

COMPANIES MENTIONED

Akbank T.A.Ş.
T. Garanti Bank A.Ş
Yapi ve Kredi Bankasi A.Ş
T.C. Ziraat Bankasi A.Ş

The cards and payments industry in Turkey demonstrated robust growth during the review period (2008–2012). In terms of volume, the industry grew at a compound annual growth rate (CAGR) of 8.58%, to reach 144.5 million cards in 2012. The increasing acceptance of cards in retail outlets, growing consumer preference for cashless transactions and improved banking infrastructure has contributed to the review period growth. The industry size in terms of volume is expected to grow at a CAGR of 4.38% over the forecast period (2013–2017), to reach 183.8 million in 2017.

While cash continues to be an important part of the overall payments system, it is increasingly being displaced by the cards payments channel. To capitalize on consumer preferences, banks and card issuers have adopted various marketing and pricing strategies to encourage customers to increase card payments. Common strategies include offers, product discounts, reward points and insurance coverage. A complete cashless payment system is planned by 2023. To encourage consumers to opt for card payments, in May 2011 the Interbank Card Center of Turkey (BKM) launched the ‘Bye Bye Cash’ campaign across media and social networking sites to promote card payments as a more effective payment method. With campaigns such and initiatives from Turkish authorities, an increase in card transaction volume is projected to increase over the forecast period.

The material was prepared in June, 2013.

LIST OF TABLES

Table 1: Retail Sales Value in Turkey (TRY Billion), 2008–2017
Table 2: Retail Sales Value in Turkey (US$ Billion), 2008–2017
Table 3: Bank’s Debit Card Product Portfolio (Thousands), 2007–2011
Table 4: Turkish Cards and Payments Industry by Type of Cards (Million), 2008–2017
Table 5: Turkish Cards and Payments Industry Size by Volume (Thousands), 2008–2017
Table 6: Turkish Cards and Payments Industry Size by Transaction Value (TRY Million), 2008–2017
Table 7: Turkish Cards and Payments Industry Size by Transaction Value (US$ Million), 2008–2017
Table 8: Turkish Cards and Payments Industry Size by Transaction Volume (Million), 2008–2017
Table 9: Turkish Credit Card Category Size by Volume (Thousands), 2008–2017
Table 10: Turkish Credit Card Category Size by Transaction Value (TRY Million), 2008–2017
Table 11: Turkish Credit Card Category Size by Transaction Value (US$ Million), 2008–2017
Table 12: Turkish Credit Card Category Size by Transaction Volume (Million), 2008–2017
Table 13: Turkish Credit Card Category Size by Frequency of Use (Transaction/Card/Year), 2008–2017
Table 14: Turkish Debit Card Category Size (Thousands), 2008–2017
Table 15: Turkish Debit Card Category Size (TRY Million), 2008–2017
Table 16: Turkish Debit Card Category Size (US$ Million), 2008–2017
Table 17: Turkish Debit Card Category Size by Transaction Volume (Million), 2008–2017
Table 18: Turkish Debit Card Category Size by Frequency of Use, 2008–2017
Table 19: Turkish Prepaid Card Category Size (Thousand), 2008–2017
Table 20: Turkish Open-Loop Prepaid Card Segment Size (Thousand), 2008–2017
Table 21: Turkish Closed-Loop Prepaid Card Segment Size (Thousand), 2008 – 2017
Table 22: Turkish Prepaid Card Category Size (TRY Million), 2008–2017
Table 23: Turkish Prepaid Card Category Size (US$ Million), 2008–2017
Table 24: Ziraat Bank Financial Position, Fiscal Year Ending December 2011 (TRY Billion)
Table 25: Yapi Kredi Financial Position, Fiscal Year Ending December 2011 (TRY Billion)
Table 26: Garanti Bank Financial Position, Fiscal Year Ending December 2011 (TRY Billion)
Table 27: Akbank Financial Position, Fiscal Year Ending December 2011 (TRY Billion)
Table 28: Cards and Payments Key Definitions

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