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Retailer Payments, Banking, Insurance and Assistance in Turkey investigates the market for financial services organised by over 231 major retail brands in Turkey. As well as examining their initiatives in payment cards, banking products, insurance and assistance, the study also examines their involvement in proprietary and coalition loyalty programs, and details the online payment mechanisms accepted by those with an online sales capability. Among other data points, the report and PartnerBASE™ dataset that accompanies it embrace the following information about the retailers covered:

- whether they offer their own credit, debit or prepaid cards and, if so, the card issuers that they work with in this context if they do not issue the cards themselves;

- whether they are linked to one or more loyalty programs and, if so, whether these are proprietary or coalition schemes;

- whether they make non-card point-of-sale finance available to their customers and, if so, the finance providers that they employ for this purpose;

- whether they promote mainstream banking products such as general-purpose personal loans, mortgages and savings accounts and, if so, the partners that they co-operate with;

- whether they distribute accident, dental, health, household, life, motor, pet or travel insurance, or any kind of assistance services and, if so, the insurance or assistance providers used;

- for retail brands with an online sales capability, the payment means and providers that they accept for online purchases with consideration of payment cards, online accounts, mobile payments, bank transfers and other online payment options.

The report and PartnerBASE™ dataset can be used in the following ways:

- to gain access to a comprehensive source of information that provides detailed insights into the involvement of major retail brands in Turkey in payments, banking, insurance and assistance;

- to monitor the activity of key competitors in retailer financial services including BKM Express, Garanti Bank, KrediVer, PayPal and Yapi Kredi;

- to understand the potential in Turkey for converting proprietary retailer loyalty cards and coalition loyalty schemes into fully-fledged payment cards;

- to evaluate the extent to which consolidation among conventional banks is opening up opportunities for new retailer banks to emerge as ‘consumer champions';

- to appreciate the range of online payment choices open to consumers in Turkey who buy products and services through the websites of major retail groups.

Table Of Contents

Retailer Payments, Banking, Insurance and Assistance in Turkey
TABLE OF CONTENTS

0.0 EXECUTIVE SUMMARY 1

1.0 INTRODUCTION 3

What is this report about? 3
Rationale 3
In many countries, consumers are tending to gravitate to larger retailers and to buy more online 3
which throws up new opportunities in payments, banking, insurance and assistance 3
Methodology 4
Survey of retailers 4
The survey's scope covers 231 important retail brands grouped across ten categories… 4
…with almost all retailers surveyed maintaining an offline presence 4
Definitions 5
Payment, banking, insurance and assistance products and services 5
Operating models 7
Weighted shares 7
PartnerBASE 7
Finaccord 8

2.0 MARKET ANALYSIS 9

Introduction 9
Retailer payment cards 10
Credit, debit and prepaid cards 10
Less than 10% of major retail brands in Turkey operate a co-branded or private label payment card 10
with Garanti Bank and Yapi Kredi the most commonly reported partners in this sphere 10
Yapi Kredi, co-owned by Koç Holding and UniCredit, is a major issuer of payment cards in Turkey 11
In total, six card issuers have been successful in securing partnerships with major retail brands 12
In addition to private label products, card linked to four different payment networks are visible 13
Fuel retailers and supermarket brands account for the lion's share of initiatives 15
Gift cards 17
Gift card programs are apparent in all other than two retailer categories 17
Retailer loyalty programs 19
Turkey is characterised by a very high rate of retailer involvement in loyalty programs 19
… due mainly to the enduring popularity of five bank-owned coalition loyalty schemes 19
Proprietary loyalty programs 21
A number of major retail chains in Turkey have launched their own proprietary loyalty scheme 21
Coalition loyalty programs 21
Across retailers surveyed, Bonus Card and Maximum claim the most participants 21
while Bonus Card and World possess the most consumer members 23
Consumer finance 23
Provision rates for point-of-sale finance are marginally lower than those for credit cards 23
… with many of the small number of active retailers opting to manage their programs internally 23
External providers of consumer finance include BankPozitif, Garanti Bank, KoçFinans and KrediVer 24
with the latter firm holding the highest share of partnerships in both unweighted and weighted terms 24
Retailers of consumer electronics feature the highest provision rate for consumer finance 25
Banking products 27
Migros has tied with ING Bank to promote general-purpose unsecured personal loans 27
Insurance and assistance 27
Online payments 27
Acceptance rates 27
A half of major retail brands with an online sales capability accept direct bank transfers in Turkey 27
Payment cards 29
Five different payment card brands enjoy online acceptance among major retailers in Turkey 29
Online accounts 29
BKM Express is a significant rival to PayPal in the Turkish market for online accounts 29
Online accounts are accepted across seven of the nine categories featuring retailers selling online 31
Mobile payments 32
Three providers of mobile payments are used to one degree or another by online retail brands 32
although these are concentrated in just three retailer categories 33
Bank transfers 34
Direct bank transfers enjoy high acceptance rates in certain retailer categories 34
Other methods of online payment 35
Several retail brands also accept payments on delivery (COD) or payments upon receipt of an invoice 35

3.0 APPENDIX 36

Major captives and joint ventures 36



LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY 1

Provision rates for key payment, banking, insurance and assistance products, adherence rates for loyalty
schemes and online payment product acceptance rates among retailers in Turkey, 2013 2

1.0 INTRODUCTION 3

Retailers researched in Turkey, segmented by category, 2013 4
Retailers researched in Turkey segmented by distribution model, 2013 5

2.0 MARKET ANALYSIS 9

Provision rate for payment cards by retailers in Turkey, 2013 10
Retailer payment cards in Turkey: provision rate and operating models, 2013 11
Retailer payment cards in Turkey: unweighted and weighted issuer share of partnerships, 2013 12
Retailer payment cards in Turkey: unweighted and weighted network share of partnerships, 2013 14
Provision of retailer payment cards by retailer category and distribution model in Turkey, 2013 16
Provision of retailer gift cards by retailer category and distribution model in Turkey, 2013 18
Retailer loyalty programs in Turkey: provision rates, program types and links to payment and other cards,
2013 19
Provision of or involvement in loyalty programs by retailer category and distribution model in Turkey, 2013
20
Coalition loyalty programs in Turkey: unweighted share of retailer brand members, 2013 22
Retailer consumer finance in Turkey: provision rate and operating models, 2013 24
Retailer consumer finance in Turkey: unweighted and weighted provider share of partnerships, 2013 25
Provision of retailer consumer finance by retailer category and distribution model in Turkey, 2013 26
Retailer online payment acceptance in Turkey: acceptance rates by payment type, 2013 28
Payment cards accepted as an online payment mechanism by retailers in Turkey: unweighted and
weighted network share of acceptance, 2013 29
Online accounts accepted as an online payment mechanism by retailers in Turkey: unweighted and
weighted provider share of acceptance, 2013 30
Acceptance of online accounts as an online payment mechanism by retailer category in Turkey, 2013 31
Mobile payment services accepted as an online payment mechanism by retailers in Turkey: unweighted
and weighted provider share of acceptance, 2013 32
Acceptance of mobile payments as an online payment mechanism by retailer category in Turkey, 2013 33
Acceptance of direct bank transfers as an online payment mechanism by retailer category in Turkey, 2013
34
Acceptance of other types of online payment mechanisms by retailer category in Turkey, 2013 35

3.0 APPENDIX 36

Retailer captives and joint ventures in payments, banking, insurance and assistance in Turkey: operating
models, partners and ownership, 2013 36

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