Forecast: Number of Payments by Cards with a Debit Function in Turkey

The number of payments by cards with a debit function in Turkey stood at 2,200 million units in 2023. Observing trends over the last few years, 2013 saw a growth rate of 21.67% year-on-year with a CAGR of 37.87% over the previous five years. By 2018, year-on-year growth stood at 29.05%, with a CAGR of 26.96%. The year 2019 saw a plateau with a minor decline of 0.2%, followed by an 11.55% drop in 2020 due to the pandemic impact. However, the sector rebounded with a significant year-on-year increase of 34.15% in 2021, settling to a modest rise of 5.18% by 2023 with a recent five-year CAGR of 4.61%.

Future trends indicate a forecasted year-on-year growth rate and a five-year CAGR of 3.57%, reflecting a stabilization phase. Key points to watch:

• Adaptation to contactless and digital payment innovations.
• The impact of regulatory frameworks on the sector.
• The evolving consumer habituation post-pandemic and economic stability influencing debit card usage.